Singapore: Caustic Soda Market 2024

Caustic Soda Market Size in Singapore

The Singaporean caustic soda market amounted to $X in 2021, picking up by 3.6% 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). Over the period under review, consumption, however, continues to indicate a drastic downturn. Caustic soda consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Caustic Soda Exports

Exports from Singapore

In 2021, exports of caustic soda from Singapore dropped remarkably to X tons, with a decrease of -26.1% compared with 2020. Overall, exports, however, saw a measured expansion. The pace of growth appeared the most rapid in 2017 with an increase of 164%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, caustic soda exports plummeted to $X in 2021. Over the period under review, exports, however, posted a pronounced expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 97%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Myanmar (X tons), Indonesia (X tons) and Mozambique (X tons) were the main destinations of caustic soda exports from Singapore, with a combined 52% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mozambique (with a CAGR of +85.3%), while the other leaders experienced more modest paces of growth.

In value terms, Myanmar ($X), Indonesia ($X) and Zimbabwe ($X) appeared to be the largest markets for caustic soda exported from Singapore worldwide, with a combined 41% share of total exports. These countries were followed by Malaysia, Mozambique, Nigeria, Brunei Darussalam, Sri Lanka, Kenya, Cambodia, Papua New Guinea, the UK and Zambia, which together accounted for a further 27%.

In terms of the main countries of destination, Mozambique, with a CAGR of +37.4%, saw the highest growth rate of 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

The average caustic soda export price stood at $X per ton in 2021, increasing by 8.6% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 75%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (+17.4%), while the prices for the other major destinations experienced more modest paces of growth.

Caustic Soda Imports

Imports into Singapore

In 2021, approx. X tons of caustic soda were imported into Singapore; with an increase of 9% against the previous year. Over the period under review, imports, however, saw a abrupt setback. The pace of growth appeared the most rapid in 2019 when imports increased by 25% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, caustic soda imports declined to $X in 2021. In general, imports, however, saw a abrupt descent. The pace of growth was the most pronounced in 2019 with an increase of 14% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest caustic soda supplier to Singapore, with a 48% share of total imports. Moreover, caustic soda imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-2.1% per year) and Taiwan (Chinese) (-13.3% per year).

In value terms, China ($X) constituted the largest supplier of caustic soda to Singapore, comprising 50% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 9.4% share of total imports. It was followed by Malaysia, with an 8.8% share.

From 2012 to 2021, the average annual growth rate of value from China totaled -6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-16.8% per year) and Malaysia (-4.0% per year).

Import Prices by Country

In 2021, the average caustic soda import price amounted to $X per ton, with a decrease of -10.1% against the previous year. In general, the import price recorded a slight curtailment. The most prominent rate of growth was recorded in 2018 when the average import price increased by 34%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+10.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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