Report Update Apr 1, 2024

Singapore - Salicylic Acid and Its Salts - Market Analysis, Forecast, Size, Trends and Insights

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Singapore: Salicylic Acid Market 2024

Salicylic Acid Market Size in Singapore

The Singaporean salicylic acid market skyrocketed to $X in 2021, jumping by 38% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw slight growth. Salicylic acid consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Salicylic Acid Exports

Exports from Singapore

In 2021, shipments abroad of salicylic acid and its salts decreased by -13% to X tons, falling for the second year in a row after two years of growth. In general, exports continue to indicate a abrupt decline. The growth pace was the most rapid in 2015 when exports increased by 172% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, salicylic acid exports shrank markedly to $X in 2021. Overall, exports faced a deep slump. The most prominent rate of growth was recorded in 2018 when exports increased by 157% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Vietnam (X kg) was the main destination for salicylic acid exports from Singapore, with a 37% share of total exports. Moreover, salicylic acid exports to Vietnam exceeded the volume sent to the second major destination, Malaysia (X kg), fourfold. The third position in this ranking was taken by the Philippines (X kg), with a 6% share.

From 2012 to 2021, the average annual growth rate of volume to Vietnam totaled -15.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-27.3% per year) and the Philippines (+192.3% per year).

In value terms, the largest markets for salicylic acid exported from Singapore were Vietnam ($X), the Philippines ($X) and Mexico ($X), together accounting for 84% of total exports.

In terms of the main countries of destination, the Philippines, with a CAGR of +202.3%, recorded the highest rates of growth with regard to 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 2021, the average salicylic acid export price amounted to $X per ton, shrinking by -27.9% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by 118%. As a result, the export price reached the peak level of $X per ton, and then dropped notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Myanmar ($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 Vietnam (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Salicylic Acid Imports

Imports into Singapore

In 2021, imports of salicylic acid and its salts into Singapore surged to X tons, jumping by 32% against 2020. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by 44%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, salicylic acid imports skyrocketed to $X in 2021. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 220% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest salicylic acid supplier to Singapore, accounting for a 86% share of total imports. Moreover, salicylic acid imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest.

In value terms, China ($X) constituted the largest supplier of salicylic acid and its salts to Singapore, comprising 81% of total imports. The second position in the ranking was taken by France ($X), with an 18% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +4.0%.

Import Prices by Country

In 2021, the average salicylic acid import price amounted to $X per ton, with an increase of 13% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 281%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.1%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for salicylic acid and its salts in the world?

The countries with the highest volumes of consumption in 2021 were India, Brazil and the United States, together accounting for 62% of global consumption. These countries were followed by Mexico, Spain, Thailand, Germany, China and Malaysia, which together accounted for a further 20%.

What are the largest producers of salicylic acid and its salts in the world?

China constituted the country with the largest volume of salicylic acid production, accounting for 54% of total volume. Moreover, salicylic acid production in China exceeded the figures recorded by the second-largest producer, Brazil, twofold. The third position in this ranking was taken by France, with an 18% share.

What are the leading suppliers of salicylic acid and its salts to Singapore?

In value terms, China constituted the largest supplier of salicylic acid and its salts to Singapore, comprising 81% of total imports. The second position in the ranking was taken by France, with an 18% share of total imports.

What are the leading importers of salicylic acid and its salts from Singapore?

In value terms, the largest markets for salicylic acid exported from Singapore were Vietnam, the Philippines and Mexico, with a combined 84% share of total exports.

What is the average export price for salicylic acid and its salts in Singapore?

In 2021, the average salicylic acid export price amounted to $6,847 per ton, reducing by -27.9% against the previous year.

What is the average import price for salicylic acid and its salts in Singapore?

The average salicylic acid import price stood at $4,899 per ton in 2021, growing by 13% against the previous year.

This report provides an in-depth analysis of the salicylic acid 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:

Prodcom 21101030 - Salicylic acid and its salts

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
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. 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
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. 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
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023