Singapore: Halogenated Hydrocarbon Derivative Market 2024

Halogenated Hydrocarbon Derivative Market Size in Singapore

The Singaporean halogenated hydrocarbon derivative market soared to $X in 2022, jumping by 34% against the previous year. In general, consumption continues to indicate a resilient expansion. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Halogenated Hydrocarbon Derivative Production in Singapore

In value terms, halogenated hydrocarbon derivative production reached $X in 2022 estimated in export price. Overall, production posted a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 106% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Halogenated Hydrocarbon Derivative Exports

Exports from Singapore

In 2022, shipments abroad of halogenated derivatives of hydrocarbons increased by 16% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, saw a perceptible shrinkage. The growth pace was the most rapid in 2014 with an increase of 17%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, halogenated hydrocarbon derivative exports soared to $X in 2022. In general, exports saw a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Bangladesh (X tons), Japan (X tons) and Indonesia (X tons) were the main destinations of halogenated hydrocarbon derivative exports from Singapore, together comprising 48% of total exports. Malaysia, Thailand, the United Arab Emirates, Cambodia, India, Vietnam, Iraq, China and the Philippines lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iraq (with a CAGR of +39.3%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for halogenated derivatives of hydrocarbons exports from Singapore, comprising 49% of total exports. The second position in the ranking was held by Malaysia ($X), with a 10% share of total exports. It was followed by Bangladesh, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value to Japan amounted to +32.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-5.2% per year) and Bangladesh (+15.7% per year).

Export Prices by Country

The average halogenated hydrocarbon derivative export price stood at $X per ton in 2022, increasing by 27% against the previous year. In general, the export price showed a pronounced expansion. The growth pace was the most rapid in 2019 an increase of 29%. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Bangladesh ($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 Vietnam (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Halogenated Hydrocarbon Derivative Imports

Imports into Singapore

In 2022, after three years of decline, there was significant growth in supplies from abroad of halogenated derivatives of hydrocarbons, when their volume increased by 23% to X tons. Overall, imports, however, continue to indicate a perceptible shrinkage. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, halogenated hydrocarbon derivative imports soared to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 38%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of halogenated hydrocarbon derivative imports to Singapore, together comprising 76% of total imports. The United Arab Emirates, Malaysia, Germany, Taiwan (Chinese) and Italy lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +91.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and the United States ($X) were the largest halogenated hydrocarbon derivative suppliers to Singapore, with a combined 82% share of total imports. Taiwan (Chinese), Italy, Malaysia, Germany and the United Arab Emirates lagged somewhat behind, together comprising a further 7.4%.

The United Arab Emirates, with a CAGR of +100.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average halogenated hydrocarbon derivative import price stood at $X per ton in 2022, increasing by 3% against the previous year. Overall, the import price recorded a pronounced increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 49%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+19.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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