Singapore: Bismuth Market 2022

Bismuth Market Size in Singapore

The Singaporean bismuth market dropped remarkably to $X in 2021, shrinking by -39.3% 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). In general, consumption recorded a deep downturn. Bismuth consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Bismuth Exports

Exports from Singapore

In 2021, shipments abroad of bismuth was finally on the rise to reach X kg after two years of decline. In general, exports continue to indicate modest growth. The pace of growth was the most pronounced in 2014 when exports increased by 1,189% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, bismuth exports soared to $X in 2021. Overall, exports posted a prominent increase. The pace of growth was the most pronounced in 2014 when exports increased by 1,309% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand (X kg) was the main destination for bismuth exports from Singapore, with a 84% share of total exports. Moreover, bismuth exports to Thailand exceeded the volume sent to the second major destination, Malaysia (X kg), more than tenfold. The third position in this ranking was held by Vietnam (X kg), with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Thailand totaled -31.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-7.9% per year) and Vietnam (-2.9% per year).

In value terms, Thailand ($X) remains the key foreign market for bismuth exports from Singapore, comprising 57% of total exports. The second position in the ranking was taken by India ($X), with a 10% share of total exports. It was followed by Malaysia, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value to Thailand totaled -28.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+20.2% per year) and Malaysia (+13.0% per year).

Export Prices by Country

The average bismuth export price stood at $X per ton in 2021, declining by -8.3% against the previous year. Over the period under review, the export price, however, recorded a strong increase. The most prominent rate of growth was recorded in 2017 an increase of 49% against the previous year. The export price peaked at $X per ton in 2020, and then shrank in the following year.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while the average price for exports to Vietnam ($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 India (+26.9%), while the prices for the other major destinations experienced more modest paces of growth.

Bismuth Imports

Imports into Singapore

In 2021, the amount of bismuth imported into Singapore shrank to X tons, with a decrease of -9.2% compared with the year before. In general, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2016 with an increase of 87%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, bismuth imports shrank to $X in 2021. Over the period under review, imports showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2020 when imports increased by 85% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Italy (X kg), South Korea (X kg) and the United States (X kg) were the main suppliers of bismuth imports to Singapore, with a combined 86% share of total imports. These countries were followed by New Zealand, Russia, Germany, China and France, which together accounted for a further 12%.

From 2012 to 2021, the biggest increases were in Russia (with a CAGR of +650.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of bismuth to Singapore, comprising 67% of total imports. The second position in the ranking was held by the United States ($X), with a 19% share of total imports. It was followed by Russia, with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea totaled +53.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.4% per year) and Russia (+493.7% per year).

Import Prices by Country

The average bismuth import price stood at $X per ton in 2021, dropping by -5.5% against the previous year. Over the period under review, the import price, however, posted a strong expansion. The pace of growth was the most pronounced in 2018 when the average import price increased by 93% against the previous year. The import price peaked at $X per ton in 2020, and then fell in the following year.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+19.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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