Singapore: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in Singapore

In 2022, the Singaporean plant-growth regulators market increased by 0.8% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, posted a strong increase. Plant-growth regulators consumption peaked in 2022 and is likely to see gradual growth in years to come.

Plant-Growth Regulators Production in Singapore

In value terms, plant-growth regulators production stood at $X in 2022 estimated in export price. Overall, the total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.5% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 64%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Plant-Growth Regulators Exports

Exports from Singapore

In 2022, the amount of plant-growth regulators exported from Singapore skyrocketed to X tons, rising by 18% against the year before. Over the period under review, exports, however, showed a abrupt slump. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, plant-growth regulators exports surged to $X in 2022. In general, exports, however, recorded a noticeable decline. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons), Indonesia (X tons) and Sri Lanka (X tons) were the main destinations of plant-growth regulators exports from Singapore, with a combined 57% share of total exports. Ethiopia, Bangladesh, Malaysia, Thailand and China lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for Ethiopia (with a CAGR of +28.6%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Indonesia ($X), Vietnam ($X) and Sri Lanka ($X) appeared to be the largest markets for plant-growth regulators exported from Singapore worldwide, together accounting for 55% of total exports. Ethiopia, Bangladesh, Thailand, Malaysia and China lagged somewhat behind, together accounting for a further 20%.

Ethiopia, with a CAGR of +35.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average plant-growth regulators export price amounted to $X per ton, growing by 14% against the previous year. Overall, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plant-growth regulators export price increased by +43.1% against 2019 indices. The pace of growth was the most pronounced in 2015 when the average export price increased by 44%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to China ($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 Indonesia (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Plant-Growth Regulators Imports

Imports into Singapore

In 2022, supplies from abroad of plant-growth regulators was finally on the rise to reach X tons after three years of decline. In general, imports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 28% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, plant-growth regulators imports skyrocketed to $X in 2022. Overall, imports, however, showed a noticeable decrease. The most prominent rate of growth was recorded in 2013 when imports increased by 94%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plant-growth regulators to Singapore, with a 68% share of total imports. Moreover, plant-growth regulators imports from China exceeded the figures recorded by the second-largest supplier, Israel (X tons), sixfold. Indonesia (X tons) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Israel (-6.7% per year) and Indonesia (-22.5% per year).

In value terms, China ($X) constituted the largest supplier of plant-growth regulators to Singapore, comprising 55% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 16% share of total imports. It was followed by Israel, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-11.2% per year) and Israel (-17.7% per year).

Import Prices by Country

In 2022, the average plant-growth regulators import price amounted to $X per ton, picking up by 9.5% against the previous year. Over the period under review, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plant-growth regulators import price increased by +50.0% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 59% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2015; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform