Singapore: Market for Base Metal Flexible Tubing, Iron Or Steel 2025

Market Size for Base Metal Flexible Tubing, Iron Or Steel in Singapore

The Singaporean base metal flexible tubing market dropped notably to $X in 2021, declining by -16.8% against the previous year. Over the period under review, consumption saw a abrupt curtailment. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Base Metal Flexible Tubing, Iron Or Steel in Singapore

In value terms, base metal flexible tubing production contracted sharply to $X in 2021 estimated in export price. In general, production saw a mild decrease. Over the period under review, production hit record highs at $X in 2020, and then plummeted in the following year.

Exports of Base Metal Flexible Tubing, Iron Or Steel

Exports from Singapore

Base metal flexible tubing exports from Singapore soared to X tons in 2021, with an increase of 78% compared with the previous year's figure. Overall, exports, however, saw a perceptible downturn. The growth pace was the most rapid in 2013 with an increase of 148% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, base metal flexible tubing exports soared to $X in 2021. Over the period under review, exports showed buoyant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 168% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for base metal flexible tubing exports from Singapore, with a 68% share of total exports. Moreover, base metal flexible tubing exports to Malaysia exceeded the volume sent to the second major destination, Indonesia (X tons), more than tenfold. Myanmar (X tons) ranked third in terms of total exports with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia totaled +19.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-3.9% per year) and Myanmar (+20.7% per year).

In value terms, Malaysia ($X) remains the key foreign market for base metal flexible tubing, iron or steel exports from Singapore, comprising 42% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 7% share of total exports. It was followed by Bangladesh, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia stood at +18.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+2.7% per year) and Bangladesh (+38.8% per year).

Export Prices by Country

In 2021, the average base metal flexible tubing export price amounted to $X per ton, waning by -11.8% against the previous year. Overall, the export price, however, showed a prominent expansion. The growth pace was the most rapid in 2014 an increase of 29%. The export price peaked at $X per ton in 2020, and then contracted in the following year.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Myanmar ($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 the United Arab Emirates (+37.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Base Metal Flexible Tubing, Iron Or Steel

Imports into Singapore

Base metal flexible tubing imports into Singapore soared to X tons in 2021, increasing by 30% on the previous year. In general, imports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 81%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, base metal flexible tubing imports surged to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 45%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of base metal flexible tubing to Singapore, accounting for a 56% share of total imports. Moreover, base metal flexible tubing imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fivefold. Japan (X tons) ranked third in terms of total imports with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-12.6% per year) and Japan (+13.8% per year).

In value terms, the United States ($X) constituted the largest supplier of base metal flexible tubing, iron or steel to Singapore, comprising 51% of total imports. The second position in the ranking was held by China ($X), with a 5.5% share of total imports. It was followed by Malaysia, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-14.2% per year) and Malaysia (-5.1% per year).

Import Prices by Country

In 2021, the average base metal flexible tubing import price amounted to $X per ton, waning by -3% against the previous year. Over the period under review, the import price, however, posted buoyant growth. The growth pace was the most rapid in 2018 when the average import price increased by 101%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by the United States (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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