Singapore: Nucleic Acid Market 2024

Nucleic Acid Market Size in Singapore

For the fourth consecutive year, the Singaporean nucleic acid market recorded decline in sales value, which decreased by -9.5% to $X in 2021. Overall, consumption showed a noticeable decline. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Nucleic Acid Exports

Exports from Singapore

In 2021, shipments abroad of nucleic acids and their salts was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 46% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, nucleic acid exports contracted remarkably to $X in 2021. In general, exports, however, recorded a abrupt downturn. The growth pace was the most rapid in 2020 when exports increased by 69% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Ireland (X tons), Malaysia (X tons) and Panama (X tons) were the main destinations of nucleic acid exports from Singapore, together accounting for 41% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ireland (with a CAGR of +263.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for nucleic acid exported from Singapore were Ireland ($X), Panama ($X) and Belgium ($X), with a combined 52% share of total exports.

In terms of the main countries of destination, Ireland, with a CAGR of +250.2%, recorded the highest growth rate of 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

The average nucleic acid export price stood at $X per ton in 2021, declining by -32% against the previous year. In general, the export price recorded a abrupt curtailment. The growth pace was the most rapid in 2020 when the average export price increased by 86% 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 Panama ($X per ton), while the average price for exports to Malaysia ($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 Panama (+5.4%), while the prices for the other major destinations experienced a decline.

Nucleic Acid Imports

Imports into Singapore

In 2021, purchases abroad of nucleic acids and their salts decreased by -11.4% to X tons, falling for the third consecutive year after two years of growth. In general, imports, however, recorded a mild increase. The pace of growth was the most pronounced in 2013 when imports increased by 30% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, nucleic acid imports rose remarkably to $X in 2021. Overall, imports saw a slight decline. The most prominent rate of growth was recorded in 2015 with an increase of 38% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest nucleic acid supplier to Singapore, with a 46% share of total imports. Moreover, nucleic acid imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), twofold. The third position in this ranking was held by the United States (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+2.5% per year) and the United States (-4.0% per year).

In value terms, the largest nucleic acid suppliers to Singapore were the United States ($X), China ($X) and India ($X), together accounting for 68% of total imports. Indonesia, Germany, Ireland, the UK and France lagged somewhat behind, together comprising a further 21%.

Ireland, with a CAGR of +44.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average nucleic acid import price amounted to $X per ton, picking up by 22% against the previous year. Overall, the import price, however, recorded a pronounced downturn. The growth pace was the most rapid in 2015 an increase of 37% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :