Singapore: Plaster Article Market 2024

Plaster Article Market Size in Singapore

The Singaporean plaster article market surged to $X in 2021, jumping by 41% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a perceptible downturn. Plaster article consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Plaster Article Exports

Exports from Singapore

In 2021, overseas shipments of articles of plaster or of compositions based on plaster increased by 40% to X tons, rising for the second consecutive year after two years of decline. In general, total exports indicated modest growth from 2012 to 2021: its volume increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +101.2% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 97% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, plaster article exports expanded significantly to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 94%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Australia (X tons) was the main destination for plaster article exports from Singapore, accounting for a 58% share of total exports. Moreover, plaster article exports to Australia exceeded the volume sent to the second major destination, Sri Lanka (X tons), fourfold. The third position in this ranking was held by Malaysia (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Australia amounted to +71.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+11.8% per year) and Malaysia (+1.1% per year).

In value terms, Australia ($X) remains the key foreign market for plaster article exports from Singapore, comprising 51% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a 20% share of total exports. It was followed by Malaysia, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Australia totaled +63.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+21.3% per year) and Malaysia (+0.9% per year).

Export Prices by Country

In 2021, the average plaster article export price amounted to $X per ton, reducing by -21.6% against the previous year. In general, the export price continues to indicate a noticeable shrinkage. The growth pace was the most rapid in 2019 an increase of 63%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Myanmar ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Plaster Article Imports

Imports into Singapore

In 2021, plaster article imports into Singapore surged to X tons, increasing by 32% against 2020 figures. In general, imports, however, continue to indicate a deep slump. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, plaster article imports surged to $X in 2021. Overall, imports, however, showed a pronounced setback. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest plaster article supplier to Singapore, accounting for a 65% share of total imports. Moreover, plaster article imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. The third position in this ranking was held by Thailand (X tons), with an 8.8% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia totaled -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-8.9% per year) and Thailand (-8.1% per year).

In value terms, Malaysia ($X) constituted the largest supplier of plaster article to Singapore, comprising 66% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by Thailand, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value from Malaysia stood at -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.3% per year) and Thailand (-2.7% per year).

Import Prices by Country

In 2021, the average plaster article import price amounted to $X per ton, growing by 7.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2020 when the average import price increased by 18%. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Taiwan (Chinese) ($X per ton) and Malaysia ($X per ton), while the price for Indonesia ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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