Singapore: Unvulcanised Rubber Market 2024

Unvulcanised Rubber Market Size in Singapore

The Singaporean unvulcanised rubber market dropped to $X in 2022, with a decrease of X% against the previous year. Overall, consumption showed a relatively flat trend pattern. Unvulcanised rubber consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Unvulcanised Rubber Production in Singapore

In value terms, unvulcanised rubber production fell modestly to $X in 2022 estimated in export price. In general, production, however, saw a measured expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Unvulcanised Rubber Exports

Exports from Singapore

In 2022, exports of unvulcanised rubber from Singapore rose slightly to X tons, growing by X% against the previous year. Over the period under review, exports showed temperate growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, unvulcanised rubber exports contracted to $X in 2022. Overall, exports showed a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for unvulcanised rubber exports from Singapore, with a X% share of total exports. Moreover, unvulcanised rubber exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), sixfold. The third position in this ranking was held by Indonesia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Indonesia (X% per year).

In value terms, China ($X) remains the key foreign market for unvulcanised rubber exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Malaysia (X% per year).

Export Prices by Country

The average unvulcanised rubber export price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price, however, saw a moderate increase. The pace of growth was the most pronounced in 2017 an increase of X%. The export price peaked at $X per ton in 2021, and then declined in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to South Korea ($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 Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Unvulcanised Rubber Imports

Imports into Singapore

In 2022, supplies from abroad of unvulcanised rubber decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports faced a abrupt setback. The growth pace was the most rapid in 2014 when imports increased by X%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, unvulcanised rubber imports rose slightly to $X in 2022. Over the period under review, imports saw a deep downturn. The most prominent rate of growth was recorded in 2014 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 2022, imports failed to regain momentum.

Imports by Country

The United States (X tons), the UK (X tons) and South Korea (X tons) were the main suppliers of unvulcanised rubber imports to Singapore, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), South Korea ($X) and the UK ($X) constituted the largest unvulcanised rubber suppliers to Singapore, with a combined X% share of total imports.

South Korea, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average unvulcanised rubber import price stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price, however, showed a slight slump. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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