Singapore: Explosives Market 2022

Explosives Market Size in Singapore

The Singaporean explosives market reduced dramatically to $X in 2021, with a decrease of -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a dramatic descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Explosives Exports

Exports from Singapore

In 2021, the amount of prepared explosives exported from Singapore skyrocketed to X tons, rising by X% against 2020 figures. Over the period under review, exports, however, showed a abrupt decline. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, explosives exports surged to $X in 2021. Overall, exports, however, faced a abrupt slump. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for explosives exports from Singapore, with a X% share of total exports. Moreover, explosives exports to the United States exceeded the volume sent to the second major destination, Brunei Darussalam (X kg), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brunei Darussalam (-X% per year) and Malaysia (-X% per year).

In value terms, the United States ($X), Brunei Darussalam ($X) and Malaysia ($X) were the largest markets for explosives exported from Singapore worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average explosives export price amounted to $X per ton, standing approx. at the previous year. Over the period under review, the export price posted a resilient increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Brunei Darussalam ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

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

Explosives Imports

Imports into Singapore

Explosives imports into Singapore reduced notably to X tons in 2021, waning by -X% on the previous year. In general, imports saw a sharp decrease. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, explosives imports declined rapidly to $X in 2021. Over the period under review, imports continue to indicate a sharp reduction. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest explosives supplier to Singapore, accounting for a X% share of total imports. Moreover, explosives imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. Spain (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, the United States ($X) constituted the largest supplier of explosives to Singapore, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Malaysia, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and Malaysia (+X% per year).

Import Prices by Country

In 2021, the average explosives import price amounted to $X per ton, which is down by -X% against the previous year. Over the period under review, the import price, however, posted a slight expansion. The most prominent rate of growth was recorded in 2019 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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