Singapore: Phenols Market 2024

Phenols Market Size in Singapore

In 2022, the Singaporean phenols market increased by X% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, saw a noticeable decrease. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Phenols Production in Singapore

In value terms, phenols production declined modestly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Phenols Exports

Exports from Singapore

After three years of growth, overseas shipments of phenols decreased by X% to X tons in 2022. In general, exports, however, continue to indicate a noticeable increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then reduced notably in the following year.

In value terms, phenols exports shrank markedly to $X in 2022. Over the period under review, exports, however, saw a notable increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then fell dramatically in the following year.

Exports by Country

China (X tons) was the main destination for phenols exports from Singapore, with a X% share of total exports. Moreover, phenols exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), eightfold. The third position in this ranking was taken by Thailand (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Thailand (X% per year).

In value terms, China ($X) remains the key foreign market for phenols exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the average phenols export price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Australia ($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 Jordan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Phenols Imports

Imports into Singapore

After two years of growth, supplies from abroad of phenols decreased by X% to X tons in 2022. In general, total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then dropped remarkably in the following year.

In value terms, phenols imports stood at $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Taiwan (Chinese) (X tons) constituted the largest phenols supplier to Singapore, accounting for a X% share of total imports. Moreover, phenols imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Israel (X tons), more than tenfold. China (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Taiwan (Chinese) stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Israel (X% per year) and China (X% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of phenols to Singapore, comprising X% of total imports. The second position in the ranking was taken by China ($X), with an X% share of total imports. It was followed by Israel, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Taiwan (Chinese) stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Israel (X% per year).

Import Prices by Country

The average phenols import price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 Japan ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :