Singapore: Vegetable Waxes Market 2024

Vegetable Waxes Market Size in Singapore

The Singaporean vegetable waxes market rose rapidly to $X in 2022, growing by X% against the previous year. Overall, consumption showed a abrupt curtailment. Vegetable waxes consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Vegetable Waxes Production in Singapore

In value terms, vegetable waxes production declined rapidly to $X in 2022 estimated in export price. Overall, production saw a dramatic decrease. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Vegetable waxes production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Vegetable Waxes Exports

Exports from Singapore

In 2022, shipments abroad of vegetable waxes increased by X% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, continue to indicate a sharp descent. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, vegetable waxes exports skyrocketed to $X in 2022. Overall, exports, however, faced a dramatic downturn. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Brunei Darussalam (X tons) was the main destination for vegetable waxes exports from Singapore, accounting for a X% share of total exports. Moreover, vegetable waxes exports to Brunei Darussalam exceeded the volume sent to the second major destination, New Zealand (X tons), threefold. Malaysia (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brunei Darussalam stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (X% per year) and Malaysia (X% per year).

In value terms, the largest markets for vegetable waxes exported from Singapore were Brunei Darussalam ($X), Malaysia ($X) and New Zealand ($X), with a combined X% share of total exports.

Brunei Darussalam, with a CAGR of X%, saw 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 mixed trend patterns.

Export Prices by Country

The average vegetable waxes export price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Brunei Darussalam ($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 Myanmar (X%), while the prices for the other major destinations experienced mixed trend patterns.

Vegetable Waxes Imports

Imports into Singapore

In 2022, the amount of vegetable waxes imported into Singapore reached X tons, with an increase of X% against the previous year's figure. Overall, imports enjoyed a tangible expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, vegetable waxes imports soared to $X in 2022. In general, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of vegetable waxes to Singapore, accounting for a X% share of total imports. Moreover, vegetable waxes imports from Malaysia exceeded the figures recorded by the second-largest supplier, Brazil (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Japan (X% per year).

In value terms, the largest vegetable waxes suppliers to Singapore were Brazil ($X), Malaysia ($X) and Japan ($X), together accounting for X% of total imports.

Malaysia, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average vegetable waxes import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price enjoyed a noticeable expansion. The pace of growth appeared the most rapid in 2013 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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