Singapore: Market for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms 2024

Market Size for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in Singapore

The Singaporean market for polyethylene terephthalate and other polyethylene terephthalate in primary forms shrank modestly to $X in 2022, with a decrease of -1.7% against the previous year. In general, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +1.8% against 2020 indices. Consumption of peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Production of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in Singapore

In value terms, production of polyethylene terephthalate and other polyethylene terephthalate in primary forms reduced modestly to $X in 2022 estimated in export price. In general, production continues to indicate a noticeable reduction. The growth pace was the most rapid in 2014 with an increase of 29%. As a result, production attained the peak level of $X. From 2015 to 2022, production of growth remained at a somewhat lower figure.

Exports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Exports from Singapore

In 2022, shipments abroad of polyethylene terephthalate and other polyethylene terephthalate in primary forms was finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. Overall, exports, however, saw a significant decrease. The growth pace was the most rapid in 2014 when exports increased by 41%. Over the period under review, the exports of attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms expanded notably to $X in 2022. In general, exports, however, continue to indicate a significant contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 51% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms from Singapore, accounting for a 44% share of total exports. Moreover, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms to Malaysia exceeded the volume sent to the second major destination, India (X tons), twofold. New Zealand (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia amounted to -30.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+8.0% per year) and New Zealand (-4.9% per year).

In value terms, Malaysia ($X) remains the key foreign market for polyethylene terephthalate and other polyethylene terephthalate in primary forms exports from Singapore, comprising 64% of total exports. The second position in the ranking was held by New Zealand ($X), with a 12% share of total exports. It was followed by India, with an 8.3% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia totaled -24.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+6.1% per year) and India (-3.2% per year).

Export Prices by Country

In 2022, the average export price for polyethylene terephthalate and other polyethylene terephthalate in primary forms amounted to $X per ton, shrinking by -1.6% against the previous year. Over the last decade, it increased at an average annual rate of +4.3%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 28%. The export price peaked at $X per ton in 2021, and then fell in the following year.

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 Malaysia ($X per ton), while the average price for exports to Peru ($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 New Zealand (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Imports into Singapore

In 2022, after six years of decline, there was growth in purchases abroad of polyethylene terephthalate and other polyethylene terephthalate in primary forms, when their volume increased by 2.1% to X tons. In general, imports, however, saw a abrupt setback. The pace of growth appeared the most rapid in 2015 when imports increased by 172% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms declined slightly to $X in 2022. Overall, imports, however, continue to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2015 with an increase of 148% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

Thailand (X tons), Malaysia (X tons) and India (X tons) were the main suppliers of imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms to Singapore, together comprising 62% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +18.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polyethylene terephthalate and other polyethylene terephthalate in primary forms suppliers to Singapore were Malaysia ($X), India ($X) and China ($X), with a combined 64% share of total imports.

Among the main suppliers, India, with a CAGR of +18.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for polyethylene terephthalate and other polyethylene terephthalate in primary forms amounted to $X per ton, falling by -2.3% against the previous year. Overall, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for polyethylene terephthalate and other polyethylene terephthalate in primary forms increased by +112.8% against 2016 indices. The pace of growth appeared the most rapid in 2017 an increase of 82%. The import price peaked at $X per ton in 2021, and then declined slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for South Korea ($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 (+26.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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