Singapore: Market for Other Synthetic Organic Colouring Matters 2024

Market Size for Other Synthetic Organic Colouring Matters in Singapore

In 2022, the Singaporean synthetic organic colouring matters market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption continues to indicate significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Other Synthetic Organic Colouring Matters in Singapore

In value terms, synthetic organic colouring matters production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a prominent increase. The growth pace was the most rapid in 2017 with an increase of 84%. Synthetic organic colouring matters production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Other Synthetic Organic Colouring Matters

Exports from Singapore

Synthetic organic colouring matters exports from Singapore declined remarkably to X tons in 2022, falling by -19.5% against 2021. Over the period under review, exports, however, posted buoyant growth. The growth pace was the most rapid in 2021 with an increase of 35%. As a result, the exports attained the peak of X tons, and then dropped sharply in the following year.

In value terms, synthetic organic colouring matters exports dropped to $X in 2022. In general, total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +25.1% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 41%. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

Bangladesh (X tons), India (X tons) and Indonesia (X tons) were the main destinations of synthetic organic colouring matters exports from Singapore, with a combined 73% share of total exports. Pakistan, Thailand, China, Vietnam, Turkey and Malaysia lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +27.0%), while the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X) remains the key foreign market for other synthetic organic colouring matters exports from Singapore, comprising 41% of total exports. The second position in the ranking was taken by India ($X), with a 12% share of total exports. It was followed by Pakistan, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value to Bangladesh stood at +9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+10.6% per year) and Pakistan (+4.7% per year).

Export Prices by Country

In 2022, the average synthetic organic colouring matters export price amounted to $X per ton, surging by 10% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2019 when the average export price increased by 12% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Indonesia ($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 China (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Other Synthetic Organic Colouring Matters

Imports into Singapore

In 2022, overseas purchases of other synthetic organic colouring matters increased by 243% to X tons, rising for the second consecutive year after three years of decline. Overall, imports posted a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic organic colouring matters imports soared to $X in 2022. Over the period under review, imports saw significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Japan (X tons) constituted the largest synthetic organic colouring matters supplier to Singapore, accounting for a 77% share of total imports. Moreover, synthetic organic colouring matters imports from Japan exceeded the figures recorded by the second-largest supplier, India (X tons), tenfold. China (X tons) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan amounted to +64.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+3.5% per year) and China (+6.1% per year).

In value terms, Japan ($X) constituted the largest supplier of other synthetic organic colouring matters to Singapore, comprising 83% of total imports. The second position in the ranking was held by China ($X), with a 6% share of total imports. It was followed by India, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value from Japan stood at +60.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.2% per year) and India (+5.5% per year).

Import Prices by Country

In 2022, the average synthetic organic colouring matters import price amounted to $X per ton, increasing by 45% against the previous year. Over the period under review, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, synthetic organic colouring matters import price increased by +61.7% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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