Singapore: Market for Rosin And Resin Acids And Derivatives 2024

Market Size for Rosin And Resin Acids And Derivatives in Singapore

In 2022, the Singaporean rosin and resin acids market decreased by X% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption recorded a perceptible descent. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Rosin And Resin Acids And Derivatives in Singapore

In value terms, rosin and resin acids production expanded notably to $X in 2022 estimated in export price. In general, the total production indicated mild growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Rosin And Resin Acids And Derivatives

Exports from Singapore

In 2022, overseas shipments of rosin and resin acids and derivatives increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports enjoyed a modest increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, rosin and resin acids exports soared to $X in 2022. In general, exports, however, recorded a pronounced slump. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons), the Philippines (X tons) and Malaysia (X tons) were the main destinations of rosin and resin acids exports from Singapore, with a combined X% 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 Indonesia (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, Indonesia ($X) emerged as the key foreign market for rosin and resin acids and derivatives exports from Singapore, comprising X% of total exports. The second position in the ranking was held by the Philippines ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the average rosin and resin acids export price amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2020 an increase of X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the Philippines ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Rosin And Resin Acids And Derivatives

Imports into Singapore

For the third year in a row, Singapore recorded decline in purchases abroad of rosin and resin acids and derivatives, which decreased by X% to X tons in 2022. Overall, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, rosin and resin acids imports shrank slightly to $X in 2022. In general, imports saw a pronounced contraction. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of rosin and resin acids to Singapore, with a X% share of total imports. Moreover, rosin and resin acids imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Mexico (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Mexico (X% per year).

In value terms, China ($X), the United States ($X) and Mexico ($X) appeared to be the largest rosin and resin acids suppliers to Singapore, with a combined X% share of total imports. Belgium, Japan, the Netherlands, the UK, Taiwan (Chinese), Portugal, Vietnam, Indonesia and France lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, the UK, with a CAGR of X%, saw the highest growth rate of 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 rosin and resin acids import price amounted to $X per ton, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 when the average import price increased by X%. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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