Singapore: Potassium Hydroxide Market 2024

Potassium Hydroxide Market Size in Singapore

In 2022, after four years of growth, there was significant decline in the Singaporean potassium hydroxide market, when its value decreased by X% to $X. Overall, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2017 indices. Potassium hydroxide consumption peaked at $X in 2021, and then contracted in the following year.

Potassium Hydroxide Exports

Exports from Singapore

In 2022, the amount of potassium hydroxide (caustic potash) exported from Singapore contracted sharply to X tons, falling by X% on the year before. Over the period under review, exports, however, showed a temperate increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then declined dramatically in the following year.

In value terms, potassium hydroxide exports fell markedly to $X in 2022. Overall, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. The exports peaked at $X in 2021, and then fell sharply in the following year.

Exports by Country

Malaysia (X tons) was the main destination for potassium hydroxide exports from Singapore, accounting for a X% share of total exports. Moreover, potassium hydroxide exports to Malaysia exceeded the volume sent to the second major destination, South Korea (X tons), tenfold. The Philippines (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and the Philippines (X% per year).

In value terms, Malaysia ($X) remains the key foreign market for potassium hydroxide (caustic potash) exports from Singapore, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with a X% share of total exports. It was followed by the Philippines, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and the Philippines (X% per year).

Export Prices by Country

The average potassium hydroxide export 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%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Philippines ($X per ton) and South Korea ($X per ton), while the average price for exports to Malaysia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Potassium Hydroxide Imports

Imports into Singapore

In 2022, overseas purchases of potassium hydroxide (caustic potash) decreased by X% to X tons for the first time since 2013, thus ending a eight-year rising trend. In general, imports, however, saw strong growth. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then shrank sharply in the following year.

In value terms, potassium hydroxide imports amounted to $X in 2022. The total import 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 in certain years. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, South Korea (X tons) constituted the largest potassium hydroxide supplier to Singapore, accounting for a X% share of total imports. Moreover, potassium hydroxide imports from South Korea exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fivefold. The third position in this ranking was held by Germany (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Germany (X% per year).

In value terms, South Korea ($X) constituted the largest supplier of potassium hydroxide (caustic potash) to Singapore, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the average potassium hydroxide import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price, however, continues to indicate a deep downturn. Over the period under review, average import prices attained the peak figure 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 the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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