Singapore: Glass Fibre Mat Market 2022

Glass Fibre Mat Market Size in Singapore

After two years of decline, the Singaporean glass fibre mat market increased by X% to $X in 2021. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Glass Fibre Mat Production in Singapore

In value terms, glass fibre mat production soared to $X in 2021 estimated in export price. Over the period under review, production, however, showed a perceptible reduction. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. Glass fibre mat production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Glass Fibre Mat Exports

Exports from Singapore

Glass fibre mat exports from Singapore skyrocketed to X tons in 2021, jumping by X% compared with the year before. Overall, exports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass fibre mat exports soared to $X in 2021. Over the period under review, exports, however, recorded a abrupt contraction. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for glass fibre mat exports from Singapore, accounting for a X% share of total exports. Moreover, glass fibre mat exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X tons), fourfold. Brunei Darussalam (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual growth rate of volume to Indonesia totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-X% per year) and Brunei Darussalam (-X% per year).

In value terms, Indonesia ($X) remains the key foreign market for glass fibre mat exports from Singapore, comprising X% of total exports. The second position in the ranking was occupied by Malaysia ($X), with an X% share of total exports. It was followed by Brunei Darussalam, 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 Brunei Darussalam (+X% per year).

Export Prices by Country

The average glass fibre mat export price stood at $X per ton in 2021, with an increase of X% against the previous year. Over the last nine years, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2018 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the the average export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, the countries with the highest prices were Brunei Darussalam ($X per ton) and Indonesia ($X per ton), while the average price for exports to Vietnam ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Brunei Darussalam (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fibre Mat Imports

Imports into Singapore

In 2021, glass fibre mat imports into Singapore dropped rapidly to X tons, waning by -X% compared with 2020 figures. In general, imports, however, showed measured growth. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth imports failed to regain momentum.

In value terms, glass fibre mat imports dropped sharply to $X in 2021. Over the period under review, imports, however, showed a modest increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Italy (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of glass fibre mat imports to Singapore, with a combined X% share of total imports.

From 2012 to 2021, the biggest increases were in Italy (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Italy ($X) and Taiwan (Chinese) ($X) constituted the largest glass fibre mat suppliers to Singapore, with a combined X% share of total imports.

Italy, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average glass fibre mat import price stood at $X per ton in 2021, approximately reflecting the previous year. Overall, the import price, however, continues to indicate a mild descent. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from India ($X per ton) and the UK ($X per ton), while the price for the United States ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform