Singapore: Maleic Anhydride Market 2025

Maleic Anhydride Market Size in Singapore

The Singaporean maleic anhydride market soared to $X in 2021, surging by 47% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.8% 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 +53.1% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Maleic Anhydride Exports

Exports from Singapore

In 2021, shipments abroad of maleic anhydride decreased by -53.5% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when exports increased by 119%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, maleic anhydride exports dropped markedly to $X in 2021. Overall, exports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2013 with an increase of 84%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for maleic anhydride exports from Singapore, with a 81% share of total exports. Moreover, maleic anhydride exports to Malaysia exceeded the volume sent to the second major destination, India (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia totaled -12.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-3.2% per year) and China (-59.1% per year).

In value terms, Malaysia ($X) remains the key foreign market for maleic anhydride exports from Singapore, comprising 74% of total exports. The second position in the ranking was held by India ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Malaysia stood at -21.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-4.1% per year) and China (-48.0% per year).

Export Prices by Country

The average maleic anhydride export price stood at $X per ton in 2021, shrinking by -2.1% against the previous year. Overall, the export price recorded a deep contraction. The most prominent rate of growth was recorded in 2017 an increase of 90% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Malaysia ($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 China (+27.2%), while the prices for the other major destinations experienced a decline.

Maleic Anhydride Imports

Imports into Singapore

In 2021, imports of maleic anhydride into Singapore expanded sharply to X tons, increasing by 12% on the previous year. Over the period under review, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +58.6% against 2015 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 23%. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, maleic anhydride imports soared to $X in 2021. Overall, total imports indicated a resilient expansion 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. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia (X tons), the United States (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of maleic anhydride imports to Singapore, together accounting for 83% of total imports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +61.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest maleic anhydride suppliers to Singapore were Malaysia ($X), Taiwan (Chinese) ($X) and the United States ($X), together comprising 81% of total imports. These countries were followed by China, South Korea and Indonesia, which together accounted for a further 18%.

In terms of the main suppliers, Indonesia, with a CAGR of +48.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average maleic anhydride import price stood at $X per ton in 2021, increasing by 66% against the previous year. In general, the import price, however, recorded a slight shrinkage. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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