Singapore: Market for Lauric Acid And Other Acids, Their Salts And Esters 2024

Market Size for Lauric Acid And Other Acids, Their Salts And Esters in Singapore

In 2023, after two years of growth, there was significant decline in the Singaporean market for lauric acid and other acids, their salts and esters, when its value decreased by X% to $X. Overall, consumption showed a strong expansion. Over the period under review, the market reached the maximum level at $X in 2022, and then reduced remarkably in the following year.

Production of Lauric Acid And Other Acids, Their Salts And Esters in Singapore

In value terms, production of lauric acid and other acids, their salts and esters declined dramatically to $X in 2023 estimated in export price. Overall, production recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Production of peaked at $X in 2016; however, from 2017 to 2023, production failed to regain momentum.

Exports of Lauric Acid And Other Acids, Their Salts And Esters

Exports from Singapore

In 2023, shipments abroad of lauric acid and other acids, their salts and esters increased by X% to X tons, rising for the third consecutive year after two years of decline. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports of hit record highs in 2023 and are expected to retain growth in the near future.

In value terms, exports of lauric acid and other acids, their salts and esters reduced markedly to $X in 2023. Overall, exports recorded temperate growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for exports of lauric acid and other acids, their salts and esters from Singapore, with a X% share of total exports. Moreover, exports of lauric acid and other acids, their salts and esters to the United Arab Emirates exceeded the volume sent to the second major destination, China (X tons), fourfold. The third position in this ranking was held by South Korea (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and South Korea (X% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for lauric acid and other acids, their salts and esters exports from Singapore, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2023, the average annual growth rate of value to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and South Korea (X% per year).

Export Prices by Country

The average export price for lauric acid and other acids, their salts and esters stood at $X per ton in 2023, waning by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2022 to 2023, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lauric Acid And Other Acids, Their Salts And Esters

Imports into Singapore

In 2023, overseas purchases of lauric acid and other acids, their salts and esters increased by X% to X tons, rising for the third year in a row after three years of decline. Overall, total imports indicated a prominent expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports of hit record highs in 2023 and are likely to see steady growth in years to come.

In value terms, imports of lauric acid and other acids, their salts and esters declined significantly to $X in 2023. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports of remained at a lower figure.

Imports by Country

In 2023, the United States (X tons) constituted the largest supplier of lauric acid and other acids, their salts and esters to Singapore, accounting for a X% share of total imports. Moreover, imports of lauric acid and other acids, their salts and esters from the United States exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), eightfold. The third position in this ranking was taken by Indonesia (X tons), with an X% share.

From 2012 to 2023, the average annual growth rate of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Indonesia (X% per year).

In value terms, the largest lauric acid and other acids, their salts and esters suppliers to Singapore were India ($X), the United States ($X) and China ($X), together accounting for X% of total imports.

Among the main suppliers, India, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average import price for lauric acid and other acids, their salts and esters amounted to $X per ton, which is down by X% against the previous year. Overall, the import price continues to indicate a deep setback. The growth pace was the most rapid in 2021 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2022 to 2023, 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 India ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform