Singapore: Cored Arc-Welding Wire Market 2024

Cored Arc-Welding Wire Market Size in Singapore

The Singaporean cored arc-welding wire market fell to $X in 2022, stabilizing at 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 showed a abrupt decline. Cored arc-welding wire consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Cored Arc-Welding Wire Exports

Exports from Singapore

In 2022, after four years of growth, there was significant decline in shipments abroad of cored arc-welding wire, when their volume decreased by X% to X tons. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped in the following year.

In value terms, cored arc-welding wire exports reduced to $X in 2022. Over the period under review, exports saw a pronounced setback. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons) was the main destination for cored arc-welding wire exports from Singapore, with a X% share of total exports. Moreover, cored arc-welding wire exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X tons), threefold. Australia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Australia (X% per year).

In value terms, Indonesia ($X) remains the key foreign market for cored arc-welding wire exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports. It was followed by Australia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Australia (X% per year).

Export Prices by Country

In 2022, the average cored arc-welding wire export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 the United States ($X per ton), while the average price for exports to Indonesia ($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 India (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Cored Arc-Welding Wire Imports

Imports into Singapore

In 2022, approx. X tons of cored arc-welding wire were imported into Singapore; reducing by X% on 2021. In general, imports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, cored arc-welding wire imports reduced modestly to $X in 2022. Over the period under review, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Vietnam (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of cored arc-welding wire imports to Singapore, together comprising X% of total imports. Poland, South Korea, Japan, Italy, the United States and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

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

In value terms, Malaysia ($X), Vietnam ($X) and China ($X) constituted the largest cored arc-welding wire suppliers to Singapore, together accounting for X% of total imports. Poland, the United States, South Korea, Japan, Italy and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average cored arc-welding wire import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price, however, showed a slight downturn. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($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 States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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