Singapore: Polyethylene Market 2024

Polyethylene Market Size in Singapore

The Singaporean polyethylene market surged to $X in 2022, picking up by X% against the previous year. Over the period under review, consumption posted a significant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Polyethylene Production in Singapore

In value terms, polyethylene production totaled $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 in certain years. The most prominent rate of growth was recorded in 2015 with an increase of X%. Polyethylene production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Polyethylene Exports

Exports from Singapore

Polyethylene exports from Singapore shrank to X tons in 2022, dropping by X% compared with the year before. Over the period under review, exports continue to indicate a slight contraction. The most prominent rate of growth was recorded in 2019 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, polyethylene exports dropped significantly to $X in 2022. Overall, exports saw a noticeable slump. The pace of growth appeared the most rapid in 2017 with an increase of X%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Indonesia (X tons) and Vietnam (X tons) were the main destinations of polyethylene exports from Singapore, together comprising X% of total exports. Australia, Malaysia, India, Thailand, the Philippines and New Zealand lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for polyethylene exported from Singapore were China ($X), Indonesia ($X) and Vietnam ($X), with a combined X% share of total exports. Australia, Malaysia, Thailand, India, the Philippines and New Zealand lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Australia, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average polyethylene export price amounted to $X per ton, falling by X% against the previous year. In general, the export price recorded a mild decline. The most prominent rate of growth was recorded in 2021 an increase of X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Malaysia ($X per ton) and Thailand ($X per ton), while the average price for exports to Vietnam ($X per ton) and China ($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 Malaysia (X%), while the prices for the other major destinations experienced a decline.

Polyethylene Imports

Imports into Singapore

In 2022, approx. X tons of primary polyethylene with a specific gravity of over X were imported into Singapore; which is down by X% on the year before. In general, imports saw a perceptible curtailment. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, polyethylene imports dropped to $X in 2022. Overall, imports saw a drastic downturn. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest polyethylene supplier to Singapore, accounting for a X% share of total imports. Moreover, polyethylene imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Saudi Arabia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and the United States (X% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of primary polyethylene with a specific gravity of over X to Singapore, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports.

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

Import Prices by Country

The average polyethylene import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price, however, continues to indicate a pronounced curtailment. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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