Singapore - Urea - Market Analysis, Forecast, Size, Trends And Insights
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View PricingUrea Price in Singapore - 2022
Contents:
- Urea Price in Singapore (CIF) - 2022
- Urea Price in Singapore (FOB) - 2022
- Urea Imports in Singapore
- Urea Exports in Singapore
Urea Price in Singapore (CIF) - 2022
The average urea import price stood at $610 per ton in 2022, picking up by 17% against the previous year. Overall, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, urea import price increased by +86.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 60%. The import price peaked in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($1,237 per ton), while the price for Belgium ($239 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Urea Price in Singapore (FOB) - 2022
In September 2022, the average urea export price amounted to $1,909 per ton, reducing by -18% against the previous month. Overall, export price indicated a modest increase from September 2021 to September 2022: its price increased at an average monthly rate of +1.1% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, urea export price decreased by -18.0% against August 2022 indices. The most prominent rate of growth was recorded in April 2022 when the average export price increased by 70% month-to-month. The export price peaked at $2,328 per ton in August 2022, and then contracted sharply in the following month.
There were significant differences in the average prices for the major export markets. In September 2022, the country with the highest price was Thailand ($2,436 per ton), while the average price for exports to Malaysia ($1,313 per ton) was amongst the lowest.
From September 2021 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.
Urea Imports in Singapore
In 2022, the amount of urea imported into Singapore soared to 16K tons, increasing by 23% on 2021 figures. The total import volume increased at an average annual rate of +4.9% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, urea imports surged to $9.6M in 2022. Over the period under review, imports showed a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 69%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Urea in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 891 | 726 | 2,193 | 2,285 | 36.9% |
| Saudi Arabia | 1,757 | 1,385 | 657 | 1,846 | 1.7% |
| China | 971 | 793 | 739 | 1,745 | 21.6% |
| South Korea | N/A | N/A | N/A | 1,358 | 0% |
| Indonesia | 44.8 | 64.8 | 60.8 | 517 | 126.0% |
| Vietnam | N/A | N/A | 66.6 | 381 | 472.1% |
| Belgium | 223 | 105 | 158 | 238 | 2.2% |
| Japan | 7.6 | 94.2 | 975 | 156 | 173.8% |
| Germany | 517 | 662 | 1,495 | 151 | -33.7% |
| Others | 563 | 149 | 364 | 951 | 19.1% |
| Total | 4,974 | 3,980 | 6,708 | 9,628 | 24.6% |
Top Suppliers of Urea to Singapore in 2022:
- China (4.2K tons)
- Saudi Arabia (3.4K tons)
- Malaysia (3.1K tons)
- South Korea (1.6K tons)
- Indonesia (1.1K tons)
- Belgium (1.0K tons)
- Vietnam (0.4K tons)
- Japan (0.2K tons)
- Germany (0.1K tons)
Urea Exports in Singapore
In 2022, approx. 1.3K tons of urea were exported from Singapore; picking up by 25% on 2021. Over the period under review, exports, however, continue to indicate a precipitous descent.
In value terms, urea exports soared to $1.8M in 2022. In general, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +13.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Urea in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 15.4 | 120 | 64.1 | 572 | 233.7% |
| Australia | 501 | 956 | 466 | 439 | -4.3% |
| Mongolia | 41.8 | 134 | 67.5 | 286 | 89.8% |
| Malaysia | 51.5 | 63.8 | 96.8 | 252 | 69.8% |
| Taiwan (Chinese) | 113 | N/A | 74.6 | 105 | -2.4% |
| New Zealand | 37.0 | 23.9 | 35.0 | 49.4 | 10.1% |
| Hong Kong SAR | 99.6 | 7.2 | 16.1 | 26.6 | -35.6% |
| Japan | 213 | 172 | N/A | N/A | -19.2% |
| Others | 177 | 95.3 | 215 | 81.8 | -22.7% |
| Total | 1,250 | 1,571 | 1,035 | 1,813 | 13.2% |
Top Export Markets for Urea from Singapore in 2022:
- Thailand (351.1 tons)
- Australia (341.0 tons)
- Malaysia (221.2 tons)
- Mongolia (219.1 tons)
- Taiwan (Chinese) (59.9 tons)
- Hong Kong SAR (47.2 tons)
- New Zealand (42.2 tons)
This report provides an in-depth analysis of the urea market in Singapore. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 4001 - Urea
Country coverage:
- Singapore
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Singapore
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
-
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
-
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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