Singapore: Polycarbonate Market 2024

Polycarbonate Market Size in Singapore

In 2022, the Singaporean polycarbonate market increased by 323% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption showed a significant expansion. Polycarbonate consumption peaked in 2022 and is expected to retain growth in the near future.

Polycarbonate Production in Singapore

In value terms, polycarbonate production rose remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, saw a precipitous curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 40%. Polycarbonate production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Polycarbonate Exports

Exports from Singapore

In 2022, approx. X tons of polycarbonates (in primary forms) were exported from Singapore; picking up by 15% against 2021 figures. Over the period under review, exports, however, saw a abrupt shrinkage. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, polycarbonate exports rose significantly to $X in 2022. In general, exports, however, continue to indicate a deep setback. The pace of growth was the most pronounced in 2021 when exports increased by 38% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for polycarbonate exports from Singapore, accounting for a 44% share of total exports. Moreover, polycarbonate exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), threefold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at -4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-2.1% per year) and Taiwan (Chinese) (-12.7% per year).

In value terms, China ($X), Malaysia ($X) and Taiwan (Chinese) ($X) appeared to be the largest markets for polycarbonate exported from Singapore worldwide, together comprising 69% of total exports. These countries were followed by Indonesia, Vietnam, South Korea, Hong Kong SAR and India, which together accounted for a further 25%.

In terms of the main countries of destination, Indonesia, with a CAGR of +4.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average polycarbonate export price stood at $X per ton in 2022, dropping by -7.2% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 29%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, 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 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 Malaysia (+1.7%), while the prices for the other major destinations experienced more modest paces of growth.

Polycarbonate Imports

Imports into Singapore

In 2022, purchases abroad of polycarbonates (in primary forms) decreased by -24.2% to X tons, falling for the third consecutive year after two years of growth. Overall, imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 14% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, polycarbonate imports amounted to $X in 2022. In general, imports showed a noticeable decline. The most prominent rate of growth was recorded in 2021 when imports increased by 22%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest polycarbonate supplier to Singapore, with a 60% share of total imports. Moreover, polycarbonate imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Saudi Arabia stood at -8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.7% per year) and Taiwan (Chinese) (+19.7% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of polycarbonates (in primary forms) to Singapore, comprising 51% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 12% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Saudi Arabia stood at -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+28.8% per year) and the United States (-7.9% per year).

Import Prices by Country

In 2022, the average polycarbonate import price amounted to $X per ton, picking up by 50% against the previous year. In general, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polycarbonate import price increased by +84.0% against 2020 indices. As a result, import price reached 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 China ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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