Singapore: Cyclohexanone And Methylcyclohexanones Market 2024

Cyclohexanone And Methylcyclohexanones Market Size in Singapore

In 2021, the Singaporean cyclohexanone and methylcyclohexanones market decreased by -12.9% to $X, falling for the third consecutive year after two years of growth. Overall, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -36.0% against 2018 indices. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Cyclohexanone And Methylcyclohexanones Exports

Exports from Singapore

In 2021, shipments abroad of cyclohexanone and methylcyclohexanones increased by 129% to X tons, rising for the second consecutive year after five years of decline. Over the period under review, exports saw a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cyclohexanone and methylcyclohexanones exports soared to $X in 2021. In general, exports saw a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Bangladesh (X tons) was the main destination for cyclohexanone and methylcyclohexanones exports from Singapore, with a 33% share of total exports. Moreover, cyclohexanone and methylcyclohexanones exports to Bangladesh exceeded the volume sent to the second major destination, Sri Lanka (X tons), threefold. Belgium (X tons) ranked third in terms of total exports with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bangladesh amounted to +43.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+9.9% per year) and Belgium (+82.8% per year).

In value terms, Belgium ($X), Bangladesh ($X) and Sri Lanka ($X) constituted the largest markets for cyclohexanone and methylcyclohexanones exported from Singapore worldwide, together accounting for 43% of total exports.

Belgium, with a CAGR of +106.6%, saw the highest growth rate of the value of exports, among 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 cyclohexanone and methylcyclohexanones export price stood at $X per ton in 2021, falling by -4.9% against the previous year. Overall, the export price showed a slight slump. The most prominent rate of growth was recorded in 2017 when the average export price increased by 30%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Bangladesh ($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 Belgium (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Cyclohexanone And Methylcyclohexanones Imports

Imports into Singapore

In 2021, after three years of decline, there was significant growth in purchases abroad of cyclohexanone and methylcyclohexanones, when their volume increased by 7.1% to X tons. In general, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -7.4% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of 56%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, cyclohexanone and methylcyclohexanones imports soared to $X in 2021. Overall, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 52%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest cyclohexanone and methylcyclohexanones supplier to Singapore, accounting for a 58% share of total imports. Moreover, cyclohexanone and methylcyclohexanones imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. The third position in this ranking was held by Belgium (X tons), with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+27.5% per year) and Belgium (+48.6% per year).

In value terms, China ($X), the United States ($X) and Belgium ($X) were the largest cyclohexanone and methylcyclohexanones suppliers to Singapore, together comprising 87% of total imports.

Belgium, with a CAGR of +40.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average cyclohexanone and methylcyclohexanones import price amounted to $X per ton, picking up by 16% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 31%. The import price peaked in 2021 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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