Singapore: Market for Compounds With Other Nitrogen Function (Excluding Isocyanates) 2024

Market Size for Compounds With Other Nitrogen Function (Excluding Isocyanates) in Singapore

The Singaporean market for compounds with other nitrogen function (excluding isocyanates) contracted modestly to $X in 2022, falling by -2.8% against the previous year. In general, consumption, however, enjoyed a buoyant expansion. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Production of Compounds With Other Nitrogen Function (Excluding Isocyanates) in Singapore

In value terms, compounds with other nitrogen function production fell to $X in 2022 estimated in export price. Over the period under review, production, however, saw a temperate increase. The pace of growth appeared the most rapid in 2019 when the production volume increased by 104% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Exports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Exports from Singapore

In 2022, shipments abroad of compounds with other nitrogen function (excluding isocyanates) increased by 248% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, saw a deep contraction. The pace of growth was the most pronounced in 2018 with an increase of 395% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, compounds with other nitrogen function exports skyrocketed to $X in 2022. Over the period under review, exports recorded a strong increase. The pace of growth was the most pronounced in 2018 when exports increased by 633%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Thailand (X tons), China (X tons) and South Korea (X tons) were the main destinations of compounds with other nitrogen function exports from Singapore, with a combined 71% share of total exports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +301.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for compounds with other nitrogen function exported from Singapore were China ($X), Thailand ($X) and Vietnam ($X), with a combined 72% share of total exports. South Korea, Taiwan (Chinese), Japan, Indonesia, Malaysia, India and Myanmar lagged somewhat behind, together comprising a further 26%.

South Korea, with a CAGR of +451.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for compounds with other nitrogen function (excluding isocyanates) stood at $X per ton in 2022, picking up by 2.4% against the previous year. Over the period under review, the export price enjoyed a significant increase. The growth pace was the most rapid in 2017 an increase of 275%. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to South Korea ($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 South Korea (+37.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Imports into Singapore

Compounds with other nitrogen function imports into Singapore skyrocketed to X tons in 2022, picking up by 83% against the year before. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 225% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, compounds with other nitrogen function imports skyrocketed to $X in 2022. In general, imports showed significant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 346% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Switzerland (X tons), Italy (X tons) and South Korea (X tons) were the main suppliers of compounds with other nitrogen function imports to Singapore, together comprising 74% of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +355.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of compounds with other nitrogen function (excluding isocyanates) to Singapore, comprising 59% of total imports. The second position in the ranking was taken by Switzerland ($X), with a 20% share of total imports. It was followed by Spain, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea amounted to +602.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+165.5% per year) and Spain (+27.4% per year).

Import Prices by Country

The average import price for compounds with other nitrogen function (excluding isocyanates) stood at $X per ton in 2022, increasing by 30% against the previous year. In general, the import price posted buoyant growth. The most prominent rate of growth was recorded in 2017 when the average import price increased by 100% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+54.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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