Singapore: Market for Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers 2024

Market Size for Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers in Singapore

The Singaporean market for iron, steel or aluminium reservoirs, tanks, vats and similar containers was finally on the rise to reach $X in 2020, after two years of decline. Overall, consumption showed a deep downturn. Iron, steel or aluminium reservoir consumption peaked at $X in 2012; however, from 2013 to 2020, consumption failed to regain momentum.

Exports of Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers

Exports from Singapore

For the third consecutive year, Singapore recorded growth in overseas shipments of iron, steel or aluminium reservoirs, tanks, vats and similar containers, which increased by X% to X units in 2020. Over the period under review, total exports indicated a resilient expansion from 2012 to 2020: its volume increased at an average annual rate of X% over the last eight years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by X% against 2017 indices. The growth pace was the most rapid in 2018 when exports increased by X%. Over the period under review, the exports attained the maximum in 2020 and are likely to continue growth in the immediate term.

In value terms, iron, steel or aluminium reservoir exports expanded notably to $X in 2020. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2020, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Malaysia (X units) was the main destination for iron, steel or aluminium reservoir exports from Singapore, with a X% share of total exports. Moreover, iron, steel or aluminium reservoir exports to Malaysia exceeded the volume sent to the second major destination, Indonesia (X units), more than tenfold. Hong Kong SAR (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2020, the average annual growth rate of volume to Malaysia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Hong Kong SAR (X% per year).

In value terms, the largest markets for iron, steel or aluminium reservoir exported from Singapore were Malaysia ($X), Indonesia ($X) and Japan ($X), with a combined X% share of total exports.

Japan, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average export price for iron, steel or aluminium reservoirs, tanks, vats and similar containers amounted to $X per unit, waning by X% against the previous year. Overall, the export price recorded a abrupt decrease. The pace of growth appeared the most rapid in 2013 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2020, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Imports of Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers

Imports into Singapore

In 2020, approx. X units of iron, steel or aluminium reservoirs, tanks, vats and similar containers were imported into Singapore; reducing by X% on 2019. Overall, imports continue to indicate a deep contraction. The growth pace was the most rapid in 2019 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2020, imports failed to regain momentum.

In value terms, iron, steel or aluminium reservoir imports dropped remarkably to $X in 2020. In general, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2020, imports failed to regain momentum.

Imports by Country

Japan (X units), Malaysia (X units) and China (X units) were the main suppliers of iron, steel or aluminium reservoir imports to Singapore, with a combined X% share of total imports. Indonesia, Germany, Italy, the United States, Canada, India and South Korea lagged somewhat behind, together accounting for a further X%.

From 2012 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron, steel or aluminium reservoir suppliers to Singapore were Malaysia ($X), China ($X) and the United States ($X), together accounting for X% of total imports. Germany, Italy, Japan, Indonesia, Canada, South Korea and India lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Canada, 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 import price for iron, steel or aluminium reservoirs, tanks, vats and similar containers stood at $X per unit in 2020, declining by X% against the previous year. Over the last eight years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2020, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2020, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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