Singapore: Aluminium And Titanium Market 2024

Aluminium And Titanium Market Size in Singapore

In 2022, the Singaporean aluminium and titanium market increased by X% to $X, rising for the seventh year in a row after three years of decline. In general, consumption showed a resilient expansion. Aluminium and titanium consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Aluminium And Titanium Production in Singapore

In value terms, aluminium and titanium production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production showed a deep slump. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Aluminium And Titanium Exports

Exports from Singapore

In 2022, exports of aluminium and titanium from Singapore fell notably to X tons, declining by X% against the year before. Over the period under review, exports recorded a slight curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then declined dramatically in the following year.

In value terms, aluminium and titanium exports dropped dramatically to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then shrank notably in the following year.

Exports by Country

The Netherlands (X tons), Japan (X tons) and Thailand (X tons) were the main destinations of aluminium and titanium exports from Singapore, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Japan ($X) and Thailand ($X) appeared to be the largest markets for aluminium and titanium exported from Singapore worldwide, with a combined X% share of total exports.

The Netherlands, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average aluminium and titanium export price amounted to $X per ton, jumping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the United States ($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 Japan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminium And Titanium Imports

Imports into Singapore

Aluminium and titanium imports into Singapore surged to X tons in 2022, jumping by X% on the previous year. Overall, imports, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, aluminium and titanium imports soared to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, South Africa (X tons) constituted the largest aluminium and titanium supplier to Singapore, with a X% share of total imports. Moreover, aluminium and titanium imports from South Africa exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The United Arab Emirates (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Africa stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the United Arab Emirates (X% per year).

In value terms, South Africa ($X) constituted the largest supplier of aluminium and titanium to Singapore, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

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

Import Prices by Country

In 2022, the average aluminium and titanium import price amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. 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 the United Arab Emirates ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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