Singapore: Stranded Wire Market 2024

Stranded Wire Market Size in Singapore

In 2022, the Singaporean stranded wire market increased by X% to $X, rising for the second year in a row after seven years of decline. Over the period under review, consumption, however, recorded a drastic downturn. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Stranded Wire Exports

Exports from Singapore

In 2022, the amount of stranded wire, ropes and cables exported from Singapore dropped slightly to X tons, which is down by X% against 2021. Overall, exports saw a pronounced reduction. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, stranded wire exports contracted to $X in 2022. In general, exports continue to indicate a deep setback. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons), Malaysia (X tons) and Vietnam (X tons) were the main destinations of stranded wire exports from Singapore, with a combined X% share of total exports. India, China, the Netherlands, Thailand, Australia and South Korea 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 the Netherlands (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, the largest markets for stranded wire exported from Singapore were Indonesia ($X), Malaysia ($X) and India ($X), with a combined X% share of total exports. Vietnam, China, Australia, Thailand, the Netherlands and South Korea lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, the Netherlands, 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 a decline.

Export Prices by Country

The average stranded wire export price stood at $X per ton in 2022, reducing by X% against the previous year. In general, the export price showed a pronounced curtailment. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Malaysia ($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 India (X%), while the prices for the other major destinations experienced mixed trend patterns.

Stranded Wire Imports

Imports into Singapore

In 2022, overseas purchases of stranded wire, ropes and cables increased by X% to X tons, rising for the second year in a row after seven years of decline. Over the period under review, imports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, stranded wire imports rose remarkably to $X in 2022. In general, imports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Malaysia (X tons) and India (X tons) were the main suppliers of stranded wire imports to Singapore, with a combined X% share of total imports. South Korea, Thailand, the Netherlands and Vietnam 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 Vietnam (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest stranded wire suppliers to Singapore were Malaysia ($X), China ($X) and South Korea ($X), together comprising X% of total imports. India, Thailand, Vietnam and the Netherlands lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average stranded wire import price amounted to $X per ton, picking up by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain 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 Vietnam ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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