Singapore: Amino-Resin Market 2024

Amino-Resin Market Size in Singapore

In 2022, the Singaporean amino-resin market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Amino-Resin Production in Singapore

In value terms, amino-resin production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Amino-Resin Exports

Exports from Singapore

In 2022, overseas shipments of amino-resins, phenolic resins and polyurethanes (in primary forms) decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, amino-resin exports fell to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

India (X tons), Thailand (X tons) and Indonesia (X tons) were the main destinations of amino-resin exports from Singapore, with a combined X% share of total exports. Cambodia, China, Malaysia, Vietnam, the Philippines, Pakistan, Australia, the United States, Saudi Arabia and South Africa lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Thailand ($X) appeared to be the largest markets for amino-resin exported from Singapore worldwide, together accounting for X% of total exports. Indonesia, Malaysia, Vietnam, the Philippines, Pakistan, Cambodia, the United States, Saudi Arabia, Australia and South Africa lagged somewhat behind, together comprising a further X%.

South Africa, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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 amino-resin export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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

Amino-Resin Imports

Imports into Singapore

In 2022, the amount of amino-resins, phenolic resins and polyurethanes (in primary forms) imported into Singapore dropped remarkably to X tons, which is down by X% compared with the previous year. Over the period under review, imports saw a deep reduction. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, amino-resin imports shrank to $X in 2022. In general, imports showed a noticeable reduction. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest supplier of amino-resin to Singapore, with a X% share of total imports. Moreover, amino-resin imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Japan (X tons), fivefold. The third position in this ranking was taken by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Saudi Arabia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and the United States (X% per year).

In value terms, the largest amino-resin suppliers to Singapore were Saudi Arabia ($X), Japan ($X) and the United States ($X), together accounting for X% of total imports.

Saudi Arabia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average amino-resin import price stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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 ($X per ton), while the price for Saudi Arabia ($X 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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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