Singapore: Market for Casein Glues And Caseinates And Other Casein Derivatives 2024

Market Size for Casein Glues And Caseinates And Other Casein Derivatives in Singapore

The Singaporean casein glue and caseinates market surged to $X in 2022, picking up by 133% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a remarkable increase. Casein glue and caseinates consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports of Casein Glues And Caseinates And Other Casein Derivatives

Exports from Singapore

In 2022, approx. X tons of casein glues and caseinates and other casein derivatives were exported from Singapore; shrinking by -60.9% on 2021. In general, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2021 when exports increased by 110% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, casein glue and caseinates exports fell notably to $X in 2022. Over the period under review, exports continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2021 when exports increased by 96% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons), China (X tons) and India (X tons) were the main destinations of casein glue and caseinates exports from Singapore, with a combined 80% share of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +25.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) emerged as the key foreign market for casein glues and caseinates and other casein derivatives exports from Singapore, comprising 67% of total exports. The second position in the ranking was taken by China ($X), with a 13% share of total exports. It was followed by Malaysia, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia stood at +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-16.5% per year) and Malaysia (+3.8% per year).

Export Prices by Country

In 2022, the average casein glue and caseinates export price amounted to $X per ton, surging by 60% against the previous year. Overall, the export price showed a prominent expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Germany ($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 the United States (+35.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Casein Glues And Caseinates And Other Casein Derivatives

Imports into Singapore

In 2022, overseas purchases of casein glues and caseinates and other casein derivatives increased by 53% to X tons, rising for the second consecutive year after two years of decline. Overall, imports posted a tangible expansion. The growth pace was the most rapid in 2018 when imports increased by 199%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, casein glue and caseinates imports surged to $X in 2022. In general, imports enjoyed a temperate increase. The most prominent rate of growth was recorded in 2018 when imports increased by 170%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest supplier of casein glue and caseinates to Singapore, with a 64% share of total imports. Moreover, casein glue and caseinates imports from New Zealand exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+31.2% per year) and Germany (-1.3% per year).

In value terms, New Zealand ($X) constituted the largest supplier of casein glues and caseinates and other casein derivatives to Singapore, comprising 69% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 20% share of total imports. It was followed by Germany, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from New Zealand amounted to +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+30.8% per year) and Germany (+2.9% per year).

Import Prices by Country

The average casein glue and caseinates import price stood at $X per ton in 2022, with an increase of 33% against the previous year. In general, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, casein glue and caseinates import price increased by +86.5% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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