Singapore: Metal Castor Mounting Market 2025

Metal Castor Mounting Market Size in Singapore

The Singaporean metal castor mounting market surged to $X in 2022, increasing by 21% against the previous year. Overall, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +61.2% against 2017 indices. Metal castor mounting consumption peaked in 2022 and is likely to see steady growth in years to come.

Metal Castor Mounting Production in Singapore

In value terms, metal castor mounting production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, saw a mild slump. The most prominent rate of growth was recorded in 2020 when the production volume increased by 208% against the previous year. Metal castor mounting production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Metal Castor Mounting Exports

Exports from Singapore

In 2022, overseas shipments of castors with mountings of base metal increased by 18% to X tons, rising for the second year in a row after three years of decline. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 158%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, metal castor mounting exports surged to $X in 2022. Over the period under review, exports showed a mild expansion. The pace of growth was the most pronounced in 2017 with an increase of 189%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons) was the main destination for metal castor mounting exports from Singapore, with a 47% share of total exports. Moreover, metal castor mounting exports to Malaysia exceeded the volume sent to the second major destination, the Philippines (X tons), fivefold. China (X tons) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+34.4% per year) and China (+69.1% per year).

In value terms, Malaysia ($X) remains the key foreign market for castors with mountings of base metal exports from Singapore, comprising 46% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 9.9% share of total exports. It was followed by China, with a 6.6% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+35.2% per year) and China (+68.0% per year).

Export Prices by Country

In 2022, the average metal castor mounting export price amounted to $X per ton, increasing by 4.5% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 12% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Thailand ($X per ton) and Hong Kong SAR ($X per ton), while the average price for exports to Austria ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+0.6%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Castor Mounting Imports

Imports into Singapore

In 2022, the amount of castors with mountings of base metal imported into Singapore reached X tons, picking up by 13% against the previous year. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 22%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, metal castor mounting imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 28%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

China (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of metal castor mounting imports to Singapore, together accounting for 77% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +12.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Japan ($X) were the largest metal castor mounting suppliers to Singapore, together comprising 70% of total imports.

Among the main suppliers, the United States, with a CAGR of +14.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average metal castor mounting import price amounted to $X per ton, surging by 5.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2020 an increase of 26% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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