Singapore: Market for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) 2025

Market Size for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in Singapore

In 2021, the Singaporean polystyrene in primary forms market increased by 721% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption saw a significant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in Singapore

In value terms, polystyrene in primary forms production rose sharply to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a perceptible shrinkage. Polystyrene in primary forms production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Exports from Singapore

In 2021, the amount of polystyrene in primary forms (excluding expansible polystyrene) exported from Singapore dropped significantly to X tons, which is down by -50% compared with the previous year's figure. Overall, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2018 with an increase of 3.7% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, polystyrene in primary forms exports reduced remarkably to $X in 2021. In general, exports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 16%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons), Malaysia (X tons) and China (X tons) were the main destinations of polystyrene in primary forms exports from Singapore, with a combined 57% share of total exports. These countries were followed by the Philippines, Bangladesh, Australia, Thailand, Vietnam, the United States, South Africa, Hong Kong SAR, Egypt and India, which together accounted for a further 33%.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of -0.4%), while shipments for the other leaders experienced a decline.

In value terms, Indonesia ($X), Malaysia ($X) and China ($X) constituted the largest markets for polystyrene in primary forms exported from Singapore worldwide, with a combined 55% share of total exports. Bangladesh, the Philippines, Australia, the United States, South Africa, Thailand, Vietnam, Egypt, Hong Kong SAR and India lagged somewhat behind, together accounting for a further 35%.

The United States, with a CAGR of +0.7%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average polystyrene in primary forms export price amounted to $X per ton, increasing by 60% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Imports into Singapore

In 2021, after two years of decline, there was significant growth in overseas purchases of polystyrene in primary forms (excluding expansible polystyrene), when their volume increased by 141% to X tons. In general, imports, however, showed a mild curtailment. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, polystyrene in primary forms imports surged to $X in 2021. Overall, imports, however, continue to indicate a perceptible decrease. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest polystyrene in primary forms supplier to Singapore, with a 52% share of total imports. Moreover, polystyrene in primary forms imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Saudi Arabia totaled +87.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-13.8% per year) and Taiwan (Chinese) (+6.6% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of polystyrene in primary forms (excluding expansible polystyrene) to Singapore, comprising 44% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 17% share of total imports. It was followed by Taiwan (Chinese), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Saudi Arabia amounted to +69.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-11.1% per year) and Taiwan (Chinese) (+10.5% per year).

Import Prices by Country

In 2021, the average polystyrene in primary forms import price amounted to $X per ton, with an increase of 26% against the previous year. In general, the import price, however, showed a perceptible shrinkage. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+15.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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