Singapore: Sulphites Market 2024

Sulphites Market Size in Singapore

In 2022, the Singaporean sulphites market increased by 23% to $X, rising for the third year in a row after two years of decline. In general, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +74.9% against 2019 indices. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in years to come.

Sulphites Production in Singapore

In value terms, sulphites production rose to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by 145% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Sulphites Exports

Exports from Singapore

Sulphites exports from Singapore dropped to X tons in 2022, reducing by -7.7% compared with the previous year. Over the period under review, exports recorded a abrupt contraction. The pace of growth was the most pronounced in 2018 when exports increased by 74% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, sulphites exports shrank modestly to $X in 2022. Overall, exports recorded a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 59% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Brunei Darussalam (X tons), Australia (X tons) and Malaysia (X tons) were the main destinations of sulphites exports from Singapore, together accounting for 66% 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 Brunei Darussalam (with a CAGR of +108.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sulphites exported from Singapore were Australia ($X), Brunei Darussalam ($X) and Malaysia ($X), with a combined 57% share of total exports.

Brunei Darussalam, with a CAGR of +97.4%, saw the highest rates of growth with regard to the value of exports, in terms of 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

The average sulphites export price stood at $X per ton in 2022, picking up by 5.5% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 24%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Brunei Darussalam ($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 Myanmar (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphites Imports

Imports into Singapore

In 2022, supplies from abroad of sulphites increased by 13% to X tons, rising for the third consecutive year after two years of decline. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 64% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, sulphites imports soared to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 97%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of sulphites to Singapore, with a 51% share of total imports. Moreover, sulphites imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), twofold. India (X tons) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-5.2% per year) and India (+214.9% per year).

In value terms, China ($X) constituted the largest supplier of sulphites to Singapore, comprising 47% of total imports. The second position in the ranking was taken by Thailand ($X), with a 20% share of total imports. It was followed by Germany, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-9.2% per year) and Germany (-4.8% per year).

Import Prices by Country

In 2022, the average sulphites import price amounted to $X per ton, growing by 19% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 36% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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