Singapore: Fluoropolymers Market 2024

Fluoropolymers Market Size in Singapore

In 2021, the Singaporean fluoropolymers market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption saw a deep slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Fluoropolymers Production in Singapore

In value terms, fluoropolymers production stood at $X in 2021 estimated in export price. In general, production faced a dramatic decrease. The growth pace was the most rapid in 2020 when the production volume decreased by 99.9%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Fluoropolymers Exports

Exports from Singapore

In 2021, fluoropolymers exports from Singapore surged to X tons, growing by 48% compared with the year before. In general, exports saw a strong increase. The most prominent rate of growth was recorded in 2018 when exports increased by 69% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, fluoropolymers exports skyrocketed to $X in 2021. Overall, exports showed a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

South Korea (X tons) was the main destination for fluoropolymers exports from Singapore, with a 35% share of total exports. Moreover, fluoropolymers exports to South Korea exceeded the volume sent to the second major destination, Malaysia (X tons), twofold. The third position in this ranking was held by China (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea totaled +50.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+4.4% per year) and China (+2.9% per year).

In value terms, South Korea ($X) remains the key foreign market for fluoropolymers exports from Singapore, comprising 33% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 14% share of total exports. It was followed by China, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to South Korea stood at +66.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+7.2% per year) and China (+4.4% per year).

Export Prices by Country

In 2021, the average fluoropolymers export price amounted to $X per ton, picking up by 21% against the previous year. Overall, export price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fluoropolymers export price increased by +68.3% against 2014 indices. As a result, the export price attained 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 ($X per ton), while the average price for exports to the Netherlands ($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 the United States (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Fluoropolymers Imports

Imports into Singapore

In 2021, overseas purchases of fluoropolymers were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a drastic downturn. The growth pace was the most rapid in 2014 with an increase of 38% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, fluoropolymers imports surged to $X in 2021. Over the period under review, imports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 34%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of fluoropolymers imports to Singapore, with a combined 72% share of total imports. The Netherlands, India, Japan and France lagged somewhat behind, together comprising a further 25%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +58.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Germany ($X) constituted the largest fluoropolymers suppliers to Singapore, with a combined 75% share of total imports. The Netherlands, Japan, France and India lagged somewhat behind, together comprising a further 22%.

In terms of the main suppliers, India, with a CAGR of +49.5%, saw the highest rates of growth with regard to the value of imports, 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 fluoropolymers import price amounted to $X per ton, picking up by 10% against the previous year. Over the period under review, import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fluoropolymers import price increased by +103.9% against 2015 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 54% against the previous year. The import price peaked in 2021 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 the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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