Cyclic Hydrocarbons Market in Singapore
Market Overview
The Singaporean cyclic hydrocarbons market contracted slightly to $
in , declining by -% 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). Over the period under review, consumption, however, recorded a perceptible decrease. Cyclic hydrocarbons consumption peaked at $ in 2014; however, from 2015 to , consumption remained at a lower figure.
In value terms, cyclic hydrocarbons production shrank to $ in estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by %. Over the period under review, production attained the peak level at $ in 2018; however, from 2019 to , production failed to regain momentum.
in , declining by -% 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). Over the period under review, consumption, however, recorded a perceptible decrease. Cyclic hydrocarbons consumption peaked at $ in 2014; however, from 2015 to , consumption remained at a lower figure.In value terms, cyclic hydrocarbons production shrank to $
in estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by %. Over the period under review, production attained the peak level at $ in 2018; however, from 2019 to , production failed to regain momentum.Consumption
In , consumption of cyclic hydrocarbons increased by % to tons, rising for the second consecutive year after three years of decline. Overall, consumption, however, recorded a slight setback. Over the period under review, consumption attained the maximum volume at tons in 2008; however, from 2009 to , consumption stood at a somewhat lower figure.
The size of the cyclic hydrocarbons market in Singapore reduced modestly to $ in , waning by -% 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, however, showed a perceptible downturn. Cyclic hydrocarbons consumption peaked at $ in 2014; however, from 2015 to , consumption remained at a lower figure.
, consumption of cyclic hydrocarbons increased by % to tons, rising for the second consecutive year after three years of decline. Overall, consumption, however, recorded a slight setback. Over the period under review, consumption attained the maximum volume at tons in 2008; however, from 2009 to , consumption stood at a somewhat lower figure.The size of the cyclic hydrocarbons market in Singapore reduced modestly to $
in , waning by -% 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, however, showed a perceptible downturn. Cyclic hydrocarbons consumption peaked at $ in 2014; however, from 2015 to , consumption remained at a lower figure.Market Forecast
Depressed by shrinking demand for cyclic hydrocarbons in Singapore, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .
In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to depress the market volume to tons by the end of .In value terms, the market is forecast to contract with an anticipated CAGR of -
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Cyclic hydrocarbons market in Singapore consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately ( percentage point) over the period under review.
, the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately ( percentage point) over the period under review.Trade Balance
Singapore remains a net exporter of cyclic hydrocarbons; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
. In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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