Singapore: Unsaturated Acyclic Hydrocarbons Market 2024

Unsaturated Acyclic Hydrocarbons Market Size in Singapore

The Singaporean unsaturated acyclic hydrocarbons market rose notably to $X in 2021, growing by 11% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a resilient increase. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Unsaturated Acyclic Hydrocarbons Exports

Exports from Singapore

Unsaturated acyclic hydrocarbons exports from Singapore declined to X tons in 2021, with a decrease of -14.4% against the year before. In general, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2014 when exports increased by 68%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, unsaturated acyclic hydrocarbons exports amounted to $X in 2021. Over the period under review, total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +23.9% against 2019 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 59%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand (X tons) was the main destination for unsaturated acyclic hydrocarbons exports from Singapore, accounting for a 48% share of total exports. Moreover, unsaturated acyclic hydrocarbons exports to Thailand exceeded the volume sent to the second major destination, China (X tons), threefold. Australia (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Thailand totaled +18.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+11.7% per year) and Australia (+9.4% per year).

In value terms, Thailand ($X) remains the key foreign market for unsaturated acyclic hydrocarbons exports from Singapore, comprising 45% of total exports. The second position in the ranking was taken by China ($X), with a 19% share of total exports. It was followed by Australia, with a 9.9% share.

From 2012 to 2021, the average annual growth rate of value to Thailand totaled +17.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+12.2% per year) and Australia (+8.2% per year).

Export Prices by Country

The average unsaturated acyclic hydrocarbons export price stood at $X per ton in 2021, growing by 18% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, 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 Japan ($X per ton), while the average price for exports to Indonesia ($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 Japan (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.

Unsaturated Acyclic Hydrocarbons Imports

Imports into Singapore

In 2021, imports of unsaturated acyclic hydrocarbons into Singapore contracted to X tons, declining by -10.3% compared with 2020 figures. Over the period under review, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 36%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, unsaturated acyclic hydrocarbons imports amounted to $X in 2021. In general, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +10.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +26.1% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 32% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Qatar (X tons), South Africa (X tons) and Saudi Arabia (X tons) were the main suppliers of unsaturated acyclic hydrocarbons imports to Singapore, together comprising 91% of total imports.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +68.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X), South Africa ($X) and Saudi Arabia ($X) were the largest unsaturated acyclic hydrocarbons suppliers to Singapore, together comprising 88% of total imports.

Saudi Arabia, with a CAGR of +67.6%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average unsaturated acyclic hydrocarbons import price amounted to $X per ton, surging by 27% against the previous year. In general, the import price, however, recorded a slight contraction. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were the United States ($X per ton) and Saudi Arabia ($X per ton), while the price for South Africa ($X per ton) and Qatar ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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