Singapore: Market for Industrial Monocarboxylic Fatty Acids 2025

Market Size for Industrial Monocarboxylic Fatty Acids in Singapore

In 2021, the Singaporean industrial monocarboxylic fatty acids market increased by 9.6% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, continues to indicate a slight expansion. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Exports of Industrial Monocarboxylic Fatty Acids

Exports from Singapore

In 2021, overseas shipments of industrial monocarboxylic fatty acids decreased by -2.8% to X tons, falling for the third consecutive year after five years of growth. Over the period under review, exports continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 56% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, industrial monocarboxylic fatty acids exports surged to $X in 2021. In general, exports saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for industrial monocarboxylic fatty acids exports from Singapore, accounting for a 58% share of total exports. Moreover, industrial monocarboxylic fatty acids exports to Malaysia exceeded the volume sent to the second major destination, Israel (X tons), fourfold. The third position in this ranking was held by India (X tons), with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia totaled +8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+226.6% per year) and India (-3.6% per year).

In value terms, the largest markets for industrial monocarboxylic fatty acids exported from Singapore were Malaysia ($X), Israel ($X) and India ($X), with a combined 69% share of total exports.

In terms of the main countries of destination, Israel, with a CAGR of +201.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average industrial monocarboxylic fatty acids export price amounted to $X per ton, picking up by 57% against the previous year. In general, the export price enjoyed a modest increase. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Israel ($X per ton), while the average price for exports to China ($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 Pakistan (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Monocarboxylic Fatty Acids

Imports into Singapore

In 2021, supplies from abroad of industrial monocarboxylic fatty acids decreased by -17% to X tons, falling for the sixth consecutive year after four years of growth. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 100% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, industrial monocarboxylic fatty acids imports soared to $X in 2021. In general, imports, however, posted slight growth. The growth pace was the most rapid in 2015 with an increase of 54% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest industrial monocarboxylic fatty acids supplier to Singapore, accounting for a 63% share of total imports. Moreover, industrial monocarboxylic fatty acids imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Indonesia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-1.7% per year) and Thailand (+332.3% per year).

In value terms, Indonesia ($X) constituted the largest supplier of industrial monocarboxylic fatty acids to Singapore, comprising 61% of total imports. The second position in the ranking was held by Malaysia ($X), with a 25% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Indonesia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+0.3% per year) and Thailand (+333.7% per year).

Import Prices by Country

The average industrial monocarboxylic fatty acids import price stood at $X per ton in 2021, picking up by 51% against the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial monocarboxylic fatty acids import price increased by +134.2% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of 55%. The import price peaked in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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