Singapore: Market for Reaction Initiators, Reaction Accelerators And Catalytic Preparations 2024

Market Size for Reaction Initiators, Reaction Accelerators And Catalytic Preparations in Singapore

For the third year in a row, the Singaporean reaction initiators and accelerators market recorded growth in sales value, which increased by 19% to $X in 2022. In general, consumption, however, saw a relatively flat trend pattern. Reaction initiators and accelerators consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Reaction Initiators, Reaction Accelerators And Catalytic Preparations in Singapore

In value terms, reaction initiators and accelerators production skyrocketed to $X in 2022 estimated in export price. In general, production recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 1,103%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Exports from Singapore

In 2022, approx. X tons of reaction initiators, reaction accelerators and catalytic preparations were exported from Singapore; growing by 152% compared with the previous year. Overall, exports saw a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, reaction initiators and accelerators exports surged to $X in 2022. In general, exports showed measured growth. The most prominent rate of growth was recorded in 2019 when exports increased by 106% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Indonesia (X tons), the United States (X tons) and Japan (X tons) were the main destinations of reaction initiators and accelerators exports from Singapore, with a combined 83% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +46.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for reaction initiators and accelerators exported from Singapore were the United States ($X), Japan ($X) and China ($X), together comprising 71% of total exports.

Among the main countries of destination, Japan, with a CAGR of +35.8%, saw the highest rates of growth with regard to the value of exports, 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 reaction initiators and accelerators export price amounted to $X per ton, declining by -20.8% against the previous year. In general, the export price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when the average export price increased by 16%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 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 China ($X per ton), while the average price for exports to Indonesia ($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 China (+18.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Imports into Singapore

Reaction initiators and accelerators imports into Singapore reduced to X tons in 2022, which is down by -7.7% compared with the year before. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 72% against the previous year. As a result, imports reached the peak of X tons, and then reduced in the following year.

In value terms, reaction initiators and accelerators imports rose markedly to $X in 2022. Overall, imports continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 41%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest reaction initiators and accelerators supplier to Singapore, with a 53% share of total imports. Moreover, reaction initiators and accelerators imports from Germany exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. China (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +38.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.0% per year) and China (-21.7% per year).

In value terms, the United States ($X) constituted the largest supplier of reaction initiators, reaction accelerators and catalytic preparations to Singapore, comprising 48% of total imports. The second position in the ranking was taken by Japan ($X), with a 13% share of total imports. It was followed by Germany, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to -5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+3.5% per year) and Germany (+12.3% per year).

Import Prices by Country

In 2022, the average reaction initiators and accelerators import price amounted to $X per ton, growing by 18% against the previous year. Overall, the import price, however, saw a noticeable curtailment. The pace of growth appeared the most rapid in 2014 an increase of 24%. The import price peaked 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 Japan ($X per ton), while the price for Germany ($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 (+15.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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