Singapore: Market for Mattresses other than of cellular rubber or plastics 2024

Market Size for Mattresses other than of cellular rubber or plastics in Singapore

In 2022, the Singaporean market for mattresses other than of cellular rubber or plastics increased by 7.1% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, continues to indicate a slight reduction. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Mattresses other than of cellular rubber or plastics

Exports from Singapore

In 2022, overseas shipments of mattresses other than of cellular rubber or plastics increased by 117% to X units, rising for the second year in a row after seven years of decline. Overall, exports enjoyed a prominent increase. The growth pace was the most rapid in 2021 when exports increased by 305%. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, exports of mattresses other than of cellular rubber or plastics surged to $X in 2022. In general, exports enjoyed a resilient increase. The growth pace was the most rapid in 2021 with an increase of 248%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for exports of mattresses other than of cellular rubber or plastics from Singapore, with a 73% share of total exports. Moreover, exports of mattresses other than of cellular rubber or plastics to the United States exceeded the volume sent to the second major destination, Indonesia (X units), fourfold. Malaysia (X units) ranked third in terms of total exports with a 4.2% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +21.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+14.0% per year) and Malaysia (+6.0% per year).

In value terms, the United States ($X) remains the key foreign market for mattresses other than of cellular rubber or plastics exports from Singapore, comprising 77% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 16% share of total exports. It was followed by Malaysia, with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +25.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+15.1% per year) and Malaysia (+7.4% per year).

Export Prices by Country

The average export price for mattresses other than of cellular rubber or plastics stood at $X per unit in 2022, growing by 19% against the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.8% 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 2017 an increase of 39%. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the average export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mattresses other than of cellular rubber or plastics

Imports into Singapore

In 2022, after three years of decline, there was significant growth in purchases abroad of mattresses other than of cellular rubber or plastics, when their volume increased by 42% to X units. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 49% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of mattresses other than of cellular rubber or plastics stood at $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 21%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of mattresses other than of cellular rubber or plastics to Singapore, with a 55% share of total imports. Moreover, imports of mattresses other than of cellular rubber or plastics from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), fourfold. The third position in this ranking was held by Indonesia (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-3.8% per year) and Indonesia (-7.7% per year).

In value terms, China ($X) constituted the largest supplier of mattresses other than of cellular rubber or plastics to Singapore, comprising 39% of total imports. The second position in the ranking was held by Malaysia ($X), with a 19% share of total imports. It was followed by Indonesia, with an 18% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-1.9% per year) and Indonesia (-3.2% per year).

Import Prices by Country

The average import price for mattresses other than of cellular rubber or plastics stood at $X per unit in 2022, with a decrease of -19.4% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 21%. As a result, import price reached the peak level of $X per unit, and then fell dramatically in the following year.

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 Indonesia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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