Singapore: Abrasives Market 2022

Abrasives Market Size in Singapore

The Singaporean abrasives market expanded modestly to $X in 2021, rising by X% against the previous year. Over the period under review, consumption, however, saw a perceptible contraction. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Abrasives Production in Singapore

In value terms, abrasives production dropped rapidly to $X in 2021 estimated in export price. In general, production continues to indicate a slight reduction. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Abrasives production peaked at $X in 2020, and then declined significantly in the following year.

Abrasives Exports

Exports from Singapore

In 2021, shipments abroad of abrasives (natural) increased by X% to X tons, rising for the third year in a row after three years of decline. Over the period under review, exports, however, saw a pronounced descent. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, abrasives exports skyrocketed to $X in 2021. In general, exports showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for abrasives exports from Singapore, accounting for a X% share of total exports. Moreover, abrasives exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X tons), ninefold. Hong Kong SAR (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-X% per year) and Hong Kong SAR (+X% per year).

In value terms, Indonesia ($X) remains the key foreign market for abrasives exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Indonesia stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+X% per year) and Hong Kong SAR (+X% per year).

Export Prices by Country

The average abrasives export price stood at $X per ton in 2021, with a decrease of -X% against the previous year. In general, export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, abrasives export price increased by +X% against 2019 indices. The growth pace was the most rapid in 2013 an increase of X% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Thailand ($X per ton), while the average price for exports to Hong Kong SAR ($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 Malaysia (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Abrasives Imports

Imports into Singapore

In 2021, the amount of abrasives (natural) imported into Singapore soared to X tons, rising by X% against 2020. Overall, imports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, abrasives imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Australia (X tons), India (X tons) and China (X tons) were the main suppliers of abrasives imports to Singapore, with a combined X% share of total imports. These countries were followed by Indonesia, Malaysia and the United States, which together accounted for a further X 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest abrasives suppliers to Singapore were Australia ($X), India ($X) and China ($X), with a combined X% share of total imports. These countries were followed by the United States, Malaysia and Indonesia, which together accounted for a further X, with a CAGR of +X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average abrasives import price amounted to $X per ton, growing by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was 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 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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