Singapore: Market for Zirconium Ores and Concentrates 2023

Market Size for Zirconium Ores and Concentrates in Singapore

The Singaporean zirconium ore and concentrate market soared to $X in 2021, growing by 176% against the previous year. Over the period under review, consumption enjoyed significant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Zirconium Ores and Concentrates in Singapore

In value terms, zirconium ore and concentrate production reached $X in 2021 estimated in export price. In general, production, however, recorded a pronounced reduction. The pace of growth was the most pronounced in 2017 when the production volume increased by 42% against the previous year. Zirconium ore and concentrate production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Zirconium Ores and Concentrates

Exports from Singapore

In 2021, shipments abroad of zirconium ores and concentrates increased by 5.9% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports showed a modest increase. The most prominent rate of growth was recorded in 2016 when exports increased by 1,129% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, zirconium ore and concentrate exports rose rapidly to $X in 2021. In general, exports, however, saw a pronounced slump. The pace of growth was the most pronounced in 2016 when exports increased by 1,591% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for zirconium ore and concentrate exports from Singapore, accounting for a 96% share of total exports. Moreover, zirconium ore and concentrate exports to China exceeded the volume sent to the second major destination, Thailand (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to China totaled +4.2%.

In value terms, China ($X) remains the key foreign market for zirconium ores and concentrates exports from Singapore, comprising 77% of total exports. The second position in the ranking was held by Thailand ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China totaled +3.8%.

Export Prices by Country

In 2021, the average zirconium ore and concentrate export price amounted to $X per ton, with an increase of 2.1% against the previous year. In general, the export price, however, showed a abrupt decrease. The pace of growth was the most pronounced in 2018 when the average export price increased by 51% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per ton), while the average price for exports to China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (-0.4%), while the prices for the other major destinations experienced a decline.

Imports of Zirconium Ores and Concentrates

Imports into Singapore

In 2021, supplies from abroad of zirconium ores and concentrates increased by 209% to X tons, rising for the fifth consecutive year after three years of decline. Overall, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 3,120%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, zirconium ore and concentrate imports surged to $X in 2021. In general, imports posted a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 1,769%. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, South Africa (X tons) was the main supplier of zirconium ore and concentrate to Singapore, accounting for a 97% share of total imports. It was followed by Spain (X tons), with a 1.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Africa stood at +47.8%.

In value terms, South Africa ($X) constituted the largest supplier of zirconium ores and concentrates to Singapore, comprising 97% of total imports. The second position in the ranking was held by Spain ($X), with a 1.1% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from South Africa stood at +55.6%.

Import Prices by Country

In 2021, the average zirconium ore and concentrate import price amounted to $X per ton, with an increase of 7.3% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 88%. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was South Africa ($X per ton), while the price for Spain totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+5.3%).

Source: IndexBox Market Intelligence Platform

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