Singapore: Coated Arc-Welding Electrode Market 2024

Coated Arc-Welding Electrode Market Size in Singapore

In 2022, the Singaporean coated arc-welding electrode market increased by X% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption posted a prominent expansion. Coated arc-welding electrode consumption peaked in 2022 and is expected to retain growth in the immediate term.

Coated Arc-Welding Electrode Production in Singapore

In value terms, coated arc-welding electrode production stood at $X in 2022 estimated in export price. Overall, production saw a significant expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. Coated arc-welding electrode production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Coated Arc-Welding Electrode Exports

Exports from Singapore

For the tenth consecutive year, Singapore recorded decline in shipments abroad of coated base metal electrodes for electric arc-welding, which decreased by X% to X tons in 2022. Over the period under review, exports saw a deep downturn. The smallest decline of X% was in 2018. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, coated arc-welding electrode exports expanded notably to $X in 2022. Overall, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons), Malaysia (X tons) and Australia (X tons) were the main destinations of coated arc-welding electrode exports from Singapore, together accounting for X% of total exports. The Philippines, Qatar, Hong Kong SAR, Bangladesh, Brunei Darussalam, the United Arab Emirates and Maldives lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for coated arc-welding electrode exported from Singapore were Indonesia ($X), Malaysia ($X) and the Philippines ($X), together comprising X% of total exports. Qatar, Australia, Brunei Darussalam, Hong Kong SAR, Maldives, Bangladesh and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

Qatar, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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 coated arc-welding electrode export price stood at $X per ton in 2022, surging by X% against the previous year. In general, the export price recorded a strong increase. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum 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 the Philippines ($X per ton), while the average price for exports to Bangladesh ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Coated Arc-Welding Electrode Imports

Imports into Singapore

In 2022, supplies from abroad of coated base metal electrodes for electric arc-welding increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, coated arc-welding electrode imports surged to $X in 2022. In general, imports, however, continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Thailand (X tons), Malaysia (X tons) and China (X tons) were the main suppliers of coated arc-welding electrode imports to Singapore, with a combined X% share of total imports. Indonesia, Romania, Austria, Japan, Sweden and the United States lagged somewhat behind, together accounting for a further X%.

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

In value terms, Thailand ($X), Malaysia ($X) and Indonesia ($X) were the largest coated arc-welding electrode suppliers to Singapore, with a combined X% share of total imports. Romania, China, the United States, Austria, Japan and Sweden lagged somewhat behind, together comprising a further X%.

Austria, with a CAGR of X%, saw the highest rates of growth with regard to 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 coated arc-welding electrode import price stood at $X per ton in 2022, remaining stable against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2020; afterwards, it flattened through to 2022.

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 the United States ($X per ton), while the price for China ($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 United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :