Singapore: Market for Lauric Acid And Other Acids, Their Salts And Esters 2025

Market Size for Lauric Acid And Other Acids, Their Salts And Esters in Singapore

The Singaporean market for lauric acid and other acids, their salts and esters reduced markedly to $X in 2021, waning by -19.5% against the previous year. Overall, consumption continues to indicate a abrupt curtailment. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Lauric Acid And Other Acids, Their Salts And Esters in Singapore

In value terms, production of lauric acid and other acids, their salts and esters reduced notably to $X in 2021 estimated in export price. In general, production, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 13% against the previous year. Over the period under review, production of attained the maximum level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Exports of Lauric Acid And Other Acids, Their Salts And Esters

Exports from Singapore

In 2021, the amount of lauric acid and other acids, their salts and esters exported from Singapore expanded to X tons, picking up by 1.8% on the previous year. In general, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +14.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +9.6% against 2019 indices. The growth pace was the most rapid in 2013 when exports increased by 167% against the previous year. Over the period under review, the exports of attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of lauric acid and other acids, their salts and esters skyrocketed to $X in 2021. Overall, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +16.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +35.7% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 190% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

China (X tons) was the main destination for exports of lauric acid and other acids, their salts and esters from Singapore, with a 36% share of total exports. Moreover, exports of lauric acid and other acids, their salts and esters to China exceeded the volume sent to the second major destination, Thailand (X tons), fourfold. The third position in this ranking was taken by South Korea (X tons), with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at +20.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+19.8% per year) and South Korea (+2.0% per year).

In value terms, China ($X) remains the key foreign market for lauric acid and other acids, their salts and esters exports from Singapore, comprising 35% of total exports. The second position in the ranking was taken by Thailand ($X), with a 9.3% share of total exports. It was followed by South Korea, with a 9% share.

From 2012 to 2021, the average annual growth rate of value to China totaled +26.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+15.8% per year) and South Korea (+8.0% per year).

Export Prices by Country

In 2021, the average export price for lauric acid and other acids, their salts and esters amounted to $X per ton, surging by 14% against the previous year. Over the last nine years, it increased at an average annual rate of +2.0%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2021, the highest price was recorded for prices to Malaysia ($X per ton) and the United States ($X per ton), while the average price for exports to Japan ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lauric Acid And Other Acids, Their Salts And Esters

Imports into Singapore

In 2021, supplies from abroad of lauric acid and other acids, their salts and esters was finally on the rise to reach X tons after three years of decline. Over the period under review, total imports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -26.7% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 45% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of lauric acid and other acids, their salts and esters expanded rapidly to $X in 2021. The total import value increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 35%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest lauric acid and other acids, their salts and esters supplier to Singapore, accounting for a 47% share of total imports. Moreover, imports of lauric acid and other acids, their salts and esters from India exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India stood at +36.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+31.1% per year) and the United States (-10.3% per year).

In value terms, India ($X) constituted the largest supplier of lauric acid and other acids, their salts and esters to Singapore, comprising 47% of total imports. The second position in the ranking was taken by China ($X), with a 20% share of total imports. It was followed by the United States, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from India amounted to +32.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+23.5% per year) and the United States (-7.4% per year).

Import Prices by Country

The average import price for lauric acid and other acids, their salts and esters stood at $X per ton in 2021, increasing by 3.9% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 25% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from South Korea ($X per ton) and the United Arab Emirates ($X per ton), while the price for Malaysia ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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