Singapore: Market for Industrial Tall Oil Fatty Acids 2024

Market Size for Industrial Tall Oil Fatty Acids in Singapore

The Singaporean tall oil fatty acids market soared to $X in 2022, picking up by X% 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). Overall, consumption, however, continues to indicate a relatively flat trend pattern. Tall oil fatty acids consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Exports of Industrial Tall Oil Fatty Acids

Exports from Singapore

In 2022, the amount of industrial tall oil fatty acids exported from Singapore reduced to X tons, falling by X% on 2021 figures. In general, exports, however, saw a noticeable increase. The growth pace was the most rapid in 2019 with an increase of X%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tall oil fatty acids exports soared to $X in 2022. Overall, exports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2019 with an increase of X%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Vietnam (X tons), China (X tons) and Malaysia (X tons) were the main destinations of tall oil fatty acids exports from Singapore, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Vietnam ($X) emerged as the key foreign market for industrial tall oil fatty acids exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Vietnam totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Malaysia (X% per year).

Export Prices by Country

The average tall oil fatty acids export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Vietnam ($X per ton) and China ($X per ton), while the average price for exports to Malaysia ($X per ton) and Indonesia ($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 Vietnam (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Industrial Tall Oil Fatty Acids

Imports into Singapore

In 2022, purchases abroad of industrial tall oil fatty acids increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, showed a slight decrease. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, tall oil fatty acids imports surged to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the United States (X tons) constituted the largest tall oil fatty acids supplier to Singapore, with a X% share of total imports. Moreover, tall oil fatty acids imports from the United States exceeded the figures recorded by the second-largest supplier, Finland (X tons), fivefold. The third position in this ranking was held by Sweden (X tons), with an X% share.

From 2012 to 2022, 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: Finland (X% per year) and Sweden (X% per year).

In value terms, the United States ($X) constituted the largest supplier of industrial tall oil fatty acids to Singapore, comprising X% of total imports. The second position in the ranking was held by Finland ($X), with a X% share of total imports. It was followed by Sweden, with a X% share.

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

Import Prices by Country

In 2022, the average tall oil fatty acids import price amounted to $X per ton, picking up by X% against the previous year. In general, import price indicated a slight increase from 2012 to 2022: its price 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, tall oil fatty acids import price increased by X% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 China ($X per ton), while the price for France ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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