Singapore: Wire And Cable Market 2024

Wire And Cable Market Size in Singapore

The Singaporean wire and cable market contracted to $X in 2022, declining by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Wire And Cable Production in Singapore

In value terms, wire and cable production totaled $X in 2022 estimated in export price. Over the period under review, production showed a mild decrease. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. Wire and cable production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Wire And Cable Exports

Exports from Singapore

In 2022, overseas shipments of insulated wire and cable decreased by X% to X tons, falling for the fifth consecutive year after four years of growth. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, wire and cable exports totaled $X in 2022. Overall, total exports indicated a perceptible increase 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. Based on 2022 figures, exports increased by X% against 2013 indices. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

The United States (X tons), Indonesia (X tons) and Thailand (X tons) were the main destinations of wire and cable exports from Singapore, with a combined X% share of total exports. Vietnam, Malaysia, Japan, the Philippines, China, Australia, India, Malta, Hong Kong SAR and Brunei Darussalam lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for wire and cable exported from Singapore were Indonesia ($X), the United States ($X) and Malaysia ($X), with a combined X% share of total exports. Japan, Vietnam, Thailand, China, the Philippines, Hong Kong SAR, India, Australia, Brunei Darussalam and Malta lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Malta, with a CAGR of X%, 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 wire and cable export price amounted to $X per ton, surging by X% against the previous year. Overall, the export price saw a prominent increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

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

Wire And Cable Imports

Imports into Singapore

In 2022, the amount of insulated wire and cable imported into Singapore reduced to X tons, shrinking by X% compared with the previous year's figure. In general, imports showed a slight reduction. The pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, wire and cable imports expanded modestly to $X in 2022. Over the period under review, total imports indicated a tangible increase 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. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

China (X tons), Indonesia (X tons) and Malaysia (X tons) were the main suppliers of wire and cable imports to Singapore, with a combined X% share of total imports. Vietnam, South Korea, the United States, Taiwan (Chinese), Thailand and Italy lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Indonesia ($X) and Malaysia ($X) constituted the largest wire and cable suppliers to Singapore, together comprising X% of total imports. The United States, Taiwan (Chinese), Vietnam, South Korea, Thailand and Italy lagged somewhat behind, together comprising a further X%.

Thailand, 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 wire and cable import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, import price indicated a moderate increase from 2012 to 2022: its price 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, wire and cable import price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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