Singapore: Dichloromethane Market 2024

Dichloromethane Market Size in Singapore

The Singaporean dichloromethane market shrank sharply to $X in 2021, with a decrease of -22.4% 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, however, enjoyed a moderate expansion. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Dichloromethane Exports

Exports from Singapore

In 2021, the amount of dichloromethane (methylene chloride) exported from Singapore dropped to X tons, reducing by -11.2% against the previous year. In general, exports continue to indicate a sharp shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 54%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, dichloromethane exports contracted modestly to $X in 2021. Overall, exports faced a dramatic contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 59%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Malaysia (X tons), the Philippines (X tons) and Indonesia (X tons) were the main destinations of dichloromethane exports from Singapore, with a combined 64% share of total exports. These countries were followed by Myanmar, Australia, Nigeria and Cambodia, which together accounted for a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +39.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for dichloromethane exported from Singapore were the Philippines ($X), Indonesia ($X) and Malaysia ($X), together comprising 60% of total exports. Australia, Nigeria, Myanmar and Cambodia lagged somewhat behind, together accounting for a further 37%.

Australia, with a CAGR of +58.8%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average dichloromethane export price amounted to $X per ton, surging by 11% against the previous year. Over the period under review, the export price, however, recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2018 an increase of 18%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Malaysia ($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 Australia (+14.2%), while the prices for the other major destinations experienced a decline.

Dichloromethane Imports

Imports into Singapore

In 2021, the amount of dichloromethane (methylene chloride) imported into Singapore declined notably to X tons, with a decrease of -32.7% compared with the previous year. Over the period under review, imports showed a deep downturn. The pace of growth appeared the most rapid in 2018 when imports increased by 10% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, dichloromethane imports shrank rapidly to $X in 2021. Overall, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2018 with an increase of 13%. 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, the United States (X tons) constituted the largest supplier of dichloromethane to Singapore, with a 49% share of total imports. Moreover, dichloromethane imports from the United States exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. China (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled -9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-1.2% per year) and China (-3.8% per year).

In value terms, the United States ($X) constituted the largest supplier of dichloromethane (methylene chloride) to Singapore, comprising 52% of total imports. The second position in the ranking was held by Japan ($X), with a 19% share of total imports. It was followed by China, with a 15% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at -8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-0.9% per year) and China (-0.3% per year).

Import Prices by Country

The average dichloromethane import price stood at $X per ton in 2021, rising by 24% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from the United States ($X per ton) and Germany ($X per ton), while the price for Malaysia ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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