Singapore: Hydantoin Market 2024

Hydantoin Market Size in Singapore

The Singaporean hydantoin market skyrocketed to $X in 2022, rising by 25% against the previous year. Over the period under review, consumption, however, faced a abrupt setback. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Hydantoin Production in Singapore

In value terms, hydantoin production contracted to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2019 when the production volume increased by 119%. Hydantoin production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Hydantoin Exports

Exports from Singapore

In 2022, after two years of decline, there was significant growth in overseas shipments of hydantoin and its derivatives, when their volume increased by 121% to X tons. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when exports increased by 147% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, hydantoin exports soared to $X in 2022. Overall, exports saw strong growth. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for hydantoin exports from Singapore, accounting for a 74% share of total exports. Moreover, hydantoin exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), tenfold. New Zealand (X tons) ranked third in terms of total exports with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +39.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+15.2% per year) and New Zealand (-4.6% per year).

In value terms, China ($X) emerged as the key foreign market for hydantoin and its derivatives exports from Singapore, comprising 82% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 4.4% share of total exports. It was followed by Thailand, with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +55.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+9.8% per year) and Thailand (-16.6% per year).

Export Prices by Country

In 2022, the average hydantoin export price amounted to $X per ton, increasing by 96% against the previous year. In general, the export price saw a resilient increase. The most prominent rate of growth was recorded in 2013 an increase of 111% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Malaysia ($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 India (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Hydantoin Imports

Imports into Singapore

In 2022, after two years of decline, there was significant growth in supplies from abroad of hydantoin and its derivatives, when their volume increased by 389% to X tons. Overall, imports, however, showed a deep reduction. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, hydantoin imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt shrinkage. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Taiwan (Chinese) (X tons) constituted the largest hydantoin supplier to Singapore, with a 66% share of total imports. Moreover, hydantoin imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Taiwan (Chinese) was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+77.8% per year) and the United States (-1.5% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of hydantoin and its derivatives to Singapore, comprising 63% of total imports. The second position in the ranking was held by the United States ($X), with a 28% share of total imports. It was followed by the UK, with a 5.3% share.

From 2012 to 2022, the average annual growth rate of value from Taiwan (Chinese) was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.7% per year) and the UK (+68.6% per year).

Import Prices by Country

In 2022, the average hydantoin import price amounted to $X per ton, reducing by -41.6% against the previous year. Overall, the import price, however, showed a moderate expansion. The growth pace was the most rapid in 2015 an increase of 84% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+13.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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