Singapore: Starch Glue Market 2024

Starch Glue Market Size in Singapore

In 2021, the Singaporean starch glue market increased by 37% to $X, rising for the second consecutive year after two years of decline. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +79.9% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Starch Glue Production in Singapore

In value terms, starch glue production soared to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a deep slump. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Starch Glue Exports

Exports from Singapore

In 2021, overseas shipments of glues based on starches, dextrins or other modified starches decreased by -3.4% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 54%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, starch glue exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 43% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons) was the main destination for starch glue exports from Singapore, accounting for a 66% share of total exports. Moreover, starch glue exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X tons), threefold. Japan (X tons) ranked third in terms of total exports with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia amounted to +21.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-11.5% per year) and Japan (-23.5% per year).

In value terms, Indonesia ($X) remains the key foreign market for glues based on starches, dextrins or other modified starches exports from Singapore, comprising 61% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 26% share of total exports. It was followed by the Philippines, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Indonesia totaled +24.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-2.7% per year) and the Philippines (+33.1% per year).

Export Prices by Country

In 2021, the average starch glue export price amounted to $X per ton, picking up by 28% against the previous year. Overall, the export price saw buoyant growth. The growth pace was the most rapid in 2017 when the average export price increased by 52%. The export price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Japan ($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 Philippines (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Starch Glue Imports

Imports into Singapore

After two years of growth, supplies from abroad of glues based on starches, dextrins or other modified starches decreased by -3.2% to X tons in 2021. In general, imports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 112%. As a result, imports reached the peak of X tons, and then declined modestly in the following year.

In value terms, starch glue imports soared to $X in 2021. Over the period under review, imports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 156%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest starch glue supplier to Singapore, with a 54% share of total imports. Moreover, starch glue imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), twofold. The third position in this ranking was taken by Thailand (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +56.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+9.7% per year) and Thailand (+15.5% per year).

In value terms, China ($X) constituted the largest supplier of glues based on starches, dextrins or other modified starches to Singapore, comprising 60% of total imports. The second position in the ranking was held by Malaysia ($X), with an 18% share of total imports. It was followed by South Africa, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +55.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+7.4% per year) and South Africa (+35.2% per year).

Import Prices by Country

The average starch glue import price stood at $X per ton in 2021, picking up by 27% against the previous year. Overall, the import price, however, recorded a pronounced downturn. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+4.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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