Singapore: Polyethylene Binder Market 2025

Polyethylene Binder Market Size in Singapore

In 2022, the Singaporean polyethylene binder market increased by 80% to $X, rising for the second consecutive year after two years of decline. In general, consumption showed prominent growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Polyethylene Binder Production in Singapore

In value terms, polyethylene binder production dropped slightly to $X in 2022 estimated in export price. Overall, production continues to indicate significant growth. The pace of growth appeared the most rapid in 2013 when the production volume increased by 182%. Polyethylene binder production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Polyethylene Binder Exports

Exports from Singapore

Polyethylene binder exports from Singapore dropped sharply to X tons in 2022, with a decrease of -92% against 2021 figures. Overall, exports continue to indicate a significant contraction. The pace of growth appeared the most rapid in 2020 when exports increased by 1,675%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, polyethylene binder exports declined dramatically to $X in 2022. In general, exports showed a sharp setback. The most prominent rate of growth was recorded in 2020 with an increase of 1,031% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X kg), the Philippines (X kg) and Qatar (X kg) were the main destinations of polyethylene binder exports from Singapore, with a combined 77% share of total exports. Thailand, Brazil, China and Egypt lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +106.2%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for polyethylene binder exported from Singapore were Indonesia ($X), Qatar ($X) and the Philippines ($X), with a combined 71% share of total exports. Thailand, Brazil, China and Egypt lagged somewhat behind, together comprising a further 26%.

Thailand, with a CAGR of +120.9%, recorded 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 polyethylene binder export price amounted to $X per ton, rising by 167% against the previous year. Overall, the export price posted a prominent increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to the Philippines ($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 Brazil (+78.8%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Binder Imports

Imports into Singapore

In 2022, imports of polyethylene or polypropylene binder or baler (agricultural) twines into Singapore skyrocketed to X tons, picking up by 59% against 2021. Overall, imports, however, showed a noticeable setback. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, polyethylene binder imports skyrocketed to $X in 2022. Over the period under review, imports, however, recorded a abrupt descent. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest polyethylene binder supplier to Singapore, accounting for a 87% share of total imports. Moreover, polyethylene binder imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+9.3% per year) and the UK (-60.1% per year).

In value terms, China ($X) constituted the largest supplier of polyethylene or polypropylene binder or baler (agricultural) twines to Singapore, comprising 86% of total imports. The second position in the ranking was taken by Thailand ($X), with a 12% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+7.0% per year) and the UK (-50.7% per year).

Import Prices by Country

The average polyethylene binder import price stood at $X per ton in 2022, with an increase of 3.4% against the previous year. In general, the import price, however, showed a abrupt decrease. The pace of growth was the most pronounced in 2018 an increase of 20% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 the UK ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+23.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :