Singapore: Horsehair Market Overview 2021

Horsehair Market Size in Singapore

In 2019, the Singaporean horsehair market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2013 when the market value increased by X% year-to-year. Horsehair consumption peaked at $X in 2007; however, from 2008 to 2019, consumption remained at a lower figure.

Horsehair Production in Singapore

In value terms, horsehair production fell significantly to $X in 2019 estimated in export prices. Overall, production, however, continues to indicate a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X, and then dropped rapidly in the following year.

The average yield of horsehair in Singapore amounted to X kg per head in 2019, leveling off at 2018. Over the period under review, the yield recorded a relatively flat trend pattern.

The number of animals slaughtered for horsehair production in Singapore stood at X head in 2019, remaining stable against the previous year. In general, the number of producing animals saw a relatively flat trend pattern.

Horsehair Exports

Exports from Singapore

In 2019, the amount of horsehair exported from Singapore contracted markedly to X kg, falling by -X% on the year before. In general, exports, however, enjoyed a significant increase. Over the period under review, exports attained the maximum at X kg in 2018, and then contracted significantly in the following year.

In value terms, horsehair exports fell dramatically to $X in 2019. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by X% y-o-y. Exports peaked at $X in 2018, and then fell notably in the following year.

Exports by Country

Japan (X kg) was the main destination for horsehair exports from Singapore, accounting for a approx. X% share of total exports.

From 2007 to 2019, the average annual growth rate of volume to Japan was relatively modest.

From 2007 to 2019, the average annual growth rate of value to Japan was relatively modest.

Export Prices by Country

The average horsehair export price stood at $X per tonne in 2019, growing by X% against the previous year. In general, the export price posted slight growth. Over the period under review, average export prices hit record highs at $X per tonne in 2015; however, from 2016 to 2019, export prices failed to regain the momentum.

As there is only one major export destination, the average price level is determined by prices for Japan.

From 2007 to 2019, the rate of growth in terms of prices for Japan amounted to X% per year.

Horsehair Imports

Imports into Singapore

In 2019, overseas purchases of horsehair were finally on the rise to reach X tonnes for the first time since 2015, thus ending a three-year declining trend. In general, imports, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Imports peaked at X tonnes in 2007; however, from 2008 to 2019, imports failed to regain the momentum.

In value terms, horsehair imports soared to $X in 2019. Over the period under review, imports, however, continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by X% y-o-y. Over the period under review, imports hit record highs at $X in 2007; however, from 2008 to 2019, imports failed to regain the momentum.

Imports by Country

In 2019, New Zealand (X tonnes) constituted the largest horsehair supplier to Singapore, with a X% share of total imports. Moreover, horsehair imports from New Zealand exceeded the figures recorded by the second-largest supplier, Switzerland (X kg), fourfold.

From 2007 to 2019, the average annual growth rate of volume from New Zealand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+X% per year) and Thailand (+X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of horsehair to Singapore, comprising X% of total imports. The second position in the ranking was occupied by Switzerland ($X), with a X% share of total imports.

From 2007 to 2019, the average annual growth rate of value from New Zealand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-X% per year) and Thailand (+X% per year).

Import Prices by Country

In 2019, the average horsehair import price amounted to $X per tonne, which is down by -X% against the previous year. In general, the import price faced a precipitous slump. The pace of growth appeared the most rapid in 2018 when the average import price increased by X% y-o-y. Over the period under review, average import prices hit record highs at $X per tonne in 2007; however, from 2008 to 2019, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2019, the country with the highest price was New Zealand ($X per tonne), while the price for Thailand ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by New Zealand, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for horsehair in the world?

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China (23K tonnes) remains the largest horsehair consuming country worldwide, comprising approx. 70% of total volume. Moreover, horsehair consumption in China exceeded the figures recorded by the second-largest consumer, Belgium (1.4K tonnes), more than tenfold. The third position in this ranking was occupied by Iran (1.2K tonnes), with a 3.6% share.

What are the largest producers of horsehair in the world?

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The countries with the highest volumes of horsehair production in 2019 were Belgium (2K tonnes), Iran (1.3K tonnes) and Afghanistan (1.2K tonnes), together comprising 44% of global production. Kazakhstan, Lesotho, the U.S., Peru, Kyrgyzstan, New Zealand, Uruguay, Mali, Uzbekistan and Turkmenistan lagged somewhat behind, together accounting for a further 45%.

What are the leading suppliers of horsehair to Singapore?

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In value terms, New Zealand ($6.3K) constituted the largest supplier of horsehair to Singapore, comprising 78% of total imports. The second position in the ranking was occupied by Switzerland ($1.6K), with a 19% share of total imports.

What is the average export price for horsehair in Singapore?

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In 2019, the average horsehair export price amounted to $19,920 per tonne, with an increase of 70% against the previous year.

What is the average import price for horsehair in Singapore?

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In 2019, the average horsehair import price amounted to $2,840 per tonne, waning by -60.6% against the previous year.