Singapore: Mica Market 2022

Mica Market Size in Singapore

The Singaporean mica market soared to $X in 2021, rising by X% against the previous year. Over the period under review, consumption, however, recorded a abrupt slump. Mica consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Mica Production in Singapore

In value terms, mica production shrank remarkably to $X in 2021 estimated in export price. In general, production recorded a precipitous decrease. Over the period under review, production hit record highs at $X in 2020, and then dropped remarkably in the following year.

Mica Exports

Exports from Singapore

In 2021, approx. X tonnes of mica were exported from Singapore; falling by -X% against the previous year. Overall, exports, however, saw notable growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tonnes in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, mica exports dropped notably to $X in 2021. In general, exports, however, recorded strong growth. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then shrank remarkably in the following year.

Exports by Country

Myanmar (X tonnes), Brunei Darussalam (X tonnes) and Malaysia (X tonnes) were the main destinations of mica exports from Singapore, with a combined X% share of total exports. Hong Kong SAR, the Philippines and China lagged somewhat behind, together comprising a further X 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Malaysia ($X) and Brunei Darussalam ($X) constituted the largest markets for mica exported from Singapore worldwide, with a combined X% share of total exports.

The Philippines, with a CAGR of +X%, recorded 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

The average mica export price stood at $X per tonne in 2021, falling by -X% against the previous year. In general, the export price, however, saw strong growth. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The export price peaked at $X per tonne in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the Philippines ($X per tonne), while the average price for exports to Myanmar ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Mica Imports

Imports into Singapore

Mica imports into Singapore surged to X tonnes in 2021, jumping by X% on the previous year's figure. Overall, imports, however, continue to indicate a sharp setback. The most prominent rate of growth was recorded in 2019 with an increase of X%. Imports peaked at X tonnes in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, mica imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Japan (X tonnes) constituted the largest mica supplier to Singapore, accounting for a X% share of total imports. Moreover, mica imports from Japan exceeded the figures recorded by the second-largest supplier, India (X tonnes), threefold. China (X tonnes) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Japan stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-X% per year) and China (+X% per year).

In value terms, the largest mica suppliers to Singapore were India ($X), China ($X) and Australia ($X), together accounting for X% of total imports. The United States, Japan and Italy lagged somewhat behind, together comprising a further X the main suppliers, the United States, with a CAGR of +X%, saw the highest rates of growth with regard to 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

In 2021, the average mica import price amounted to $X per tonne, reducing by -X% against the previous year. In general, the import price, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per tonne in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Australia ($X per tonne), while the price for Japan ($X per tonne) was amongst the lowest.

From 2012 to 2021, 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