Singapore: Gloves Market 2024

Gloves Market Size in Singapore

The Singaporean gloves market was finally on the rise to reach $X in 2022, after three years of decline. In general, consumption saw a pronounced descent. Gloves consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Gloves Exports

Exports from Singapore

In 2022, the amount of gloves, mittens and mitts exported from Singapore shrank significantly to X pairs, with a decrease of X% compared with 2021. Overall, total exports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The exports peaked at X pairs in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, gloves exports shrank rapidly to $X in 2022. In general, total exports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

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

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

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

From 2012 to 2022, 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: Hong Kong SAR (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the average gloves export price amounted to $X per pair, with an increase of X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Philippines ($X per pair) and Brunei Darussalam ($X per pair), while the average price for exports to China ($X per pair) and South Korea ($X per pair) were 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.

Gloves Imports

Imports into Singapore

For the third consecutive year, Singapore recorded decline in purchases abroad of gloves, mittens and mitts, which decreased by X% to X pairs in 2022. In general, imports showed a perceptible reduction. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports reached the peak figure at X pairs in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, gloves imports declined to $X in 2022. Overall, imports continue to indicate a noticeable slump. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X pairs), Pakistan (X pairs) and Thailand (X pairs) were the main suppliers of gloves imports to Singapore, together accounting for X% of total imports. India, Malaysia, Indonesia, the Czech Republic, the United States, Italy and Australia lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest gloves suppliers to Singapore were China ($X), Pakistan ($X) and Thailand ($X), with a combined X% share of total imports. India, Malaysia, Indonesia, the Czech Republic, the United States, Italy and Australia lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, the Czech Republic, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gloves import price stood at $X per pair in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. Over the period under review, average import prices hit record highs at $X per pair in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from India ($X per pair) and Thailand ($X per pair), while the price for Australia ($X per pair) and Malaysia ($X per pair) were amongst the lowest.

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

Source: IndexBox Platform

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