Singapore: Clutch Market 2024

Clutch Market Size in Singapore

The Singaporean clutch market expanded significantly to $X in 2022, surging by 8.1% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in the near future.

Clutch Production in Singapore

In value terms, clutch production totaled $X in 2022 estimated in export price. In general, production showed significant growth. The pace of growth was the most pronounced in 2014 when the production volume increased by 619%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Clutch Exports

Exports from Singapore

In 2022, approx. X tons of clutches were exported from Singapore; with a decrease of -7.7% against 2021. Overall, exports, however, recorded a buoyant increase. The growth pace was the most rapid in 2014 when exports increased by 142%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, clutch exports rose significantly to $X in 2022. Over the period under review, exports, however, recorded a buoyant increase. The growth pace was the most rapid in 2014 when exports increased by 133%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) (X tons), Australia (X tons) and Indonesia (X tons) were the main destinations of clutch exports from Singapore, with a combined 42% share of total exports. Malaysia, Thailand, India, the Philippines, Bangladesh, Vietnam, the United States, the United Arab Emirates and South Korea lagged somewhat behind, together accounting for a further 49%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +111.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for clutch exported from Singapore were Indonesia ($X), Australia ($X) and Taiwan (Chinese) ($X), together comprising 45% of total exports. Malaysia, Thailand, India, the Philippines, Vietnam, Bangladesh, the United States, South Korea and the United Arab Emirates lagged somewhat behind, together accounting for a further 46%.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +96.1%, recorded the highest rates of growth with regard to the value of exports, 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 clutch export price amounted to $X per ton, jumping by 24% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Bangladesh ($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 Indonesia (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Clutch Imports

Imports into Singapore

In 2022, the amount of clutches imported into Singapore reached X tons, surging by 3.7% against 2021. Overall, imports, however, saw a noticeable downturn. The pace of growth was the most pronounced in 2021 with an increase of 43% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, clutch imports shrank modestly to $X in 2022. In general, imports, however, continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2021 with an increase of 42%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Japan (X tons) constituted the largest clutch supplier to Singapore, accounting for a 36% share of total imports. Moreover, clutch imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Japan amounted to -9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+24.1% per year) and the United States (+18.3% per year).

In value terms, Japan ($X), the United States ($X) and China ($X) constituted the largest clutch suppliers to Singapore, with a combined 63% share of total imports. Thailand, Germany, Malaysia, Hungary, South Korea and Indonesia lagged somewhat behind, together comprising a further 23%.

Hungary, with a CAGR of +32.0%, saw the highest rates of growth with regard to 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 2022, the average clutch import price amounted to $X per ton, falling by -4.3% against the previous year. In general, the import price recorded a mild decrease. The most prominent rate of growth was recorded in 2018 when the average import price increased by 7% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+10.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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