Singapore: Butanone Market 2024

Butanone Market Size in Singapore

The Singaporean butanone market surged to $X in 2022, growing by 43% against the previous year. In general, consumption saw a prominent expansion. Butanone consumption peaked in 2022 and is expected to retain growth in years to come.

Butanone Production in Singapore

In value terms, butanone production totaled $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume decreased by 99.9% against the previous year. Over the period under review, production reached the peak level in 2022 and is expected to retain growth in the immediate term.

Butanone Exports

Exports from Singapore

In 2022, overseas shipments of butanone (methyl ethyl ketone) were finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, showed a abrupt shrinkage. The growth pace was the most rapid in 2016 with an increase of 48%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, butanone exports expanded markedly to $X in 2022. Overall, exports, however, continue to indicate a abrupt slump. The growth pace was the most rapid in 2021 with an increase of 21% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Bangladesh (X tons), Malaysia (X tons) and Australia (X tons) were the main destinations of butanone exports from Singapore, with a combined 75% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bangladesh (with a CAGR of +12.0%), while the other leaders experienced mixed trend patterns.

In value terms, Bangladesh ($X), Malaysia ($X) and Australia ($X) were the largest markets for butanone exported from Singapore worldwide, together comprising 58% of total exports.

In terms of the main countries of destination, Bangladesh, with a CAGR of +14.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average butanone export price amounted to $X per ton, with an increase of 4.2% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butanone export price increased by +112.6% against 2016 indices. The pace of growth was the most pronounced in 2017 an increase of 40%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+31.6%), while the prices for the other major destinations experienced more modest paces of growth.

Butanone Imports

Imports into Singapore

In 2022, imports of butanone (methyl ethyl ketone) into Singapore rose rapidly to X tons, surging by 12% against the previous year. Over the period under review, imports, however, saw a drastic downturn. The growth pace was the most rapid in 2018 when imports increased by 28%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, butanone imports surged to $X in 2022. Overall, imports, however, showed a noticeable slump. The pace of growth was the most pronounced in 2018 with an increase of 60%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

South Africa (X tons), China (X tons) and Japan (X tons) were the main suppliers of butanone imports to Singapore, with a combined 97% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +26.5%), while imports for the other leaders experienced a decline.

In value terms, the largest butanone suppliers to Singapore were China ($X), South Africa ($X) and Japan ($X), with a combined 95% share of total imports.

China, with a CAGR of +26.3%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average butanone import price amounted to $X per ton, increasing by 30% against the previous year. In general, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butanone import price increased by +87.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 34% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the Netherlands ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for South Africa ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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