Singapore: Vulcanised Rubber Thread Market 2024

Vulcanised Rubber Thread Market Size in Singapore

The Singaporean vulcanised rubber thread market dropped modestly to $X in 2022, with a decrease of X% against the previous year. In general, consumption recorded a noticeable setback. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Vulcanised Rubber Thread Production in Singapore

In value terms, vulcanised rubber thread production dropped to $X in 2022 estimated in export price. Overall, production recorded a mild setback. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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Vulcanised Rubber Thread Exports

Exports from Singapore

Vulcanised rubber thread exports from Singapore contracted dramatically to X tons in 2022, falling by X% compared with 2021 figures. Overall, exports recorded a precipitous decrease. The pace of growth was the most pronounced in 2014 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, vulcanised rubber thread exports shrank remarkably to $X in 2022. Over the period under review, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Indonesia (X kg) was the main destination for vulcanised rubber thread exports from Singapore, with a X% share of total exports. Moreover, vulcanised rubber thread exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X kg), twofold. The United States (X kg) ranked third in terms of total exports with an X% share.

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

In value terms, Malaysia ($X), India ($X) and Indonesia ($X) were the largest markets for vulcanised rubber thread exported from Singapore worldwide, together accounting for X% of total exports. The United States, the Philippines, the Netherlands and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

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

Export Prices by Country

The average vulcanised rubber thread export price stood at $X per ton in 2022, jumping by X% against the previous year. In general, the export price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. Over the period under review, the average export 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 for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to the Philippines ($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 Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Thread Imports

Imports into Singapore

In 2022, overseas purchases of vulcanised rubber thread and cord decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, imports showed a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, vulcanised rubber thread imports contracted to $X in 2022. Overall, imports showed a deep slump. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

India (X tons), the United States (X tons) and China (X tons) were the main suppliers of vulcanised rubber thread 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 India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), the United States ($X) and India ($X) appeared to be the largest vulcanised rubber thread suppliers to Singapore, together accounting for X% of total imports.

The UK, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average vulcanised rubber thread import price amounted to $X per ton, picking up by X% against the previous year. Overall, the import price recorded a moderate increase. The pace of growth was the most pronounced in 2016 an increase of X%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

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

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

Source: IndexBox Platform

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