Singapore: Market for Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol)) 2024

Market Size for Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol)) in Singapore

In 2021, after two years of decline, there was significant growth in the Singaporean market for butanols (excluding butan-1-ol (n-butyl alcohol)), when its value increased by 84% to $X. Overall, consumption continues to indicate notable growth. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol)) in Singapore

In value terms, butanols (excluding butan-1-ol (n-butyl alcohol)) production totaled less than $X in 2021 estimated in export price. Over the period under review, production, however, showed a deep downturn. The growth pace was the most rapid in 2016 with a decrease of 99.9% against the previous year. Butanols (excluding butan-1-ol (n-butyl alcohol)) production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol))

Exports from Singapore

For the fifth consecutive year, Singapore recorded growth in shipments abroad of butanols (excluding butan-1-ol (n-butyl alcohol)), which increased by 225% to X tons in 2021. In general, exports, however, showed a slight descent. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, butanols (excluding butan-1-ol (n-butyl alcohol)) exports soared to $X in 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

South Korea (X tons), Indonesia (X tons) and Bangladesh (X tons) were the main destinations of butanols (excluding butan-1-ol (n-butyl alcohol)) exports from Singapore, together accounting for 67% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +48.8%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) emerged as the key foreign market for butanols (excluding butan-1-ol (n-butyl alcohol)) exports from Singapore, comprising 75% of total exports. The second position in the ranking was held by Indonesia ($X), with a 7.8% share of total exports. It was followed by Malaysia, with a 5% share.

From 2012 to 2021, the average annual growth rate of value to South Korea stood at +57.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+17.7% per year) and Malaysia (-2.8% per year).

Export Prices by Country

In 2021, the average export price for butanols (excluding butan-1-ol (n-butyl alcohol)) amounted to $X per ton, increasing by 77% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per ton), while the average price for exports to Vietnam ($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 South Korea (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol))

Imports into Singapore

Butanols (excluding butan-1-ol (n-butyl alcohol)) imports into Singapore skyrocketed to X tons in 2021, jumping by 150% against the previous year. In general, imports recorded a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of 203%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, butanols (excluding butan-1-ol (n-butyl alcohol)) imports skyrocketed to $X in 2021. Overall, imports showed strong growth. The growth pace was the most rapid in 2016 when imports increased by 232% against the previous year. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of butanols (excluding butan-1-ol (n-butyl alcohol)) to Singapore, accounting for a 58% share of total imports. Moreover, butanols (excluding butan-1-ol (n-butyl alcohol)) imports from Malaysia exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. China (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia stood at +54.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-0.9% per year) and China (+10.4% per year).

In value terms, Malaysia ($X), India ($X) and China ($X) appeared to be the largest butanols (excluding butan-1-ol (n-butyl alcohol)) suppliers to Singapore, together comprising 73% of total imports. The United States, South Africa and Taiwan (Chinese) lagged somewhat behind, together comprising a further 21%.

Taiwan (Chinese), with a CAGR of +332.1%, saw the highest rates of growth with regard to 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 import price for butanols (excluding butan-1-ol (n-butyl alcohol)) amounted to $X per ton, reducing by -2.1% against the previous year. In general, the import price recorded a mild contraction. The pace of growth appeared the most rapid in 2016 an increase of 54% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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