Singapore: Bituminous Mixtures Market 2024

Bituminous Mixtures Market Size in Singapore

In 2021, the Singaporean bituminous mixtures market decreased by -64.5% to $X, falling for the third consecutive year after two years of growth. Overall, consumption recorded a abrupt curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Bituminous Mixtures Production in Singapore

In value terms, bituminous mixtures production dropped notably to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 78%. As a result, production reached the peak level of $X, and then fell notably in the following year.

Bituminous Mixtures Exports

Exports from Singapore

In 2021, shipments abroad of bituminous mixtures decreased by -1.1% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2020 with an increase of 321%. As a result, the exports attained the peak of X tons, and then reduced slightly in the following year.

In value terms, bituminous mixtures exports soared to $X in 2021. Overall, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 244%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

Exports by Country

South Korea (X tons), China (X tons) and Malaysia (X tons) were the main destinations of bituminous mixtures exports from Singapore, with a combined 100% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +619.9%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), China ($X) and Malaysia ($X) appeared to be the largest markets for bituminous mixtures exported from Singapore worldwide, together accounting for 100% of total exports.

In terms of the main countries of destination, South Korea, with a CAGR of +510.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average bituminous mixtures export price stood at $X per ton in 2021, picking up by 48% against the previous year. In general, the export price, however, saw a perceptible reduction. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Australia ($X per ton), while the average price for exports to Indonesia ($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 Australia (-4.7%), while the prices for the other major destinations experienced a decline.

Bituminous Mixtures Imports

Imports into Singapore

After five years of decline, purchases abroad of bituminous mixtures increased by 61% to X tons in 2021. Over the period under review, imports, however, saw a drastic downturn. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, bituminous mixtures imports surged to $X in 2021. Overall, imports, however, showed a abrupt curtailment. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X tons), the United States (X tons) and Thailand (X tons) were the main suppliers of bituminous mixtures imports to Singapore, together comprising 73% of total imports. Japan, Russia, the UK and the Netherlands lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +62.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of bituminous mixtures to Singapore, comprising 35% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 16% share of total imports. It was followed by Thailand, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-23.8% per year) and Thailand (-1.4% per year).

Import Prices by Country

The average bituminous mixtures import price stood at $X per ton in 2021, approximately mirroring the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bituminous mixtures import price increased by +99.6% against 2016 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by 35% against the previous year. The import price peaked at $X per ton in 2020, and then fell modestly in the following year.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for Malaysia ($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 UK (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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