Singapore: Glass Fiber Market 2024

Glass Fiber Market Size in Singapore

In 2022, the Singaporean glass fiber market decreased by X% to $X, falling for the third consecutive year after two years of growth. In general, consumption saw a perceptible shrinkage. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Glass Fiber Production in Singapore

In value terms, glass fiber production surged to $X in 2022 estimated in export price. Over the period under review, production, however, faced a dramatic curtailment. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Glass Fiber Exports

Exports from Singapore

Glass fiber exports from Singapore soared to X tons in 2022, growing by X% against 2021. Overall, exports, however, faced a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, glass fiber exports surged to $X in 2022. In general, exports, however, showed a deep slump. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons), Indonesia (X tons) and China (X tons) were the main destinations of glass fiber exports from Singapore, with a combined X% share of total exports. South Korea, the United States, Japan, India, Thailand, Taiwan (Chinese), Sweden and Australia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and China ($X) appeared to be the largest markets for glass fiber exported from Singapore worldwide, with a combined X% share of total exports. South Korea, the United States, Japan, India, Thailand, Taiwan (Chinese), Sweden and Australia lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Sweden, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average glass fiber export price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Australia ($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.

Glass Fiber Imports

Imports into Singapore

In 2022, purchases abroad of voiles, webs, mats and other articles of glass fibers decreased by X% to X tons, falling for the third consecutive year after two years of growth. Overall, imports recorded a perceptible downturn. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, glass fiber imports expanded markedly to $X in 2022. In general, imports, however, showed a measured expansion. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Malaysia (X tons), China (X tons) and the United States (X tons) were the main suppliers of glass fiber imports to Singapore, with a combined X% share of total imports. India, the UK, Taiwan (Chinese), Germany, Kuwait, Japan, Mexico and Sweden 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 Kuwait (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of voiles, webs, mats and other articles of glass fibers to Singapore, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2022, the average glass fiber import price amounted to $X per ton, surging by X% against the previous year. Overall, the import price enjoyed resilient growth. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady 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 Taiwan (Chinese) ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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