Singapore: Common Pottery Market 2024

Common Pottery Market Size in Singapore

The Singaporean common pottery market surged to $X in 2022, with an increase of 49% 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 posted a resilient increase. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Common Pottery Exports

Exports from Singapore

In 2022, overseas shipments of common pottery decreased by -17.2% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 72% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, common pottery exports declined to $X in 2022. In general, exports continue to indicate a deep slump. The pace of growth was the most pronounced in 2019 when exports increased by 48%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for common pottery exports from Singapore, with a 37% share of total exports. Moreover, common pottery exports to Japan exceeded the volume sent to the second major destination, India (X tons), threefold. Indonesia (X tons) ranked third in terms of total exports with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume to Japan stood at -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+11.9% per year) and Indonesia (-19.2% per year).

In value terms, Japan ($X) emerged as the key foreign market for common pottery exports from Singapore, comprising 33% of total exports. The second position in the ranking was taken by India ($X), with a 12% share of total exports. It was followed by the Philippines, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Japan totaled -1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+12.3% per year) and the Philippines (+16.4% per year).

Export Prices by Country

The average common pottery export price stood at $X per ton in 2022, picking up by 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 29%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to New Zealand ($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 the Philippines (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Common Pottery Imports

Imports into Singapore

In 2022, the amount of common pottery imported into Singapore soared to X tons, rising by 33% on the previous year. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 76%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, common pottery imports surged to $X in 2022. In general, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.5% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 79%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest common pottery supplier to Singapore, accounting for a 67% share of total imports. Moreover, common pottery imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), eightfold. Japan (X tons) ranked third in terms of total imports with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-5.0% per year) and Japan (+0.7% per year).

In value terms, China ($X) constituted the largest supplier of common pottery to Singapore, comprising 64% of total imports. The second position in the ranking was held by Thailand ($X), with an 8.6% share of total imports. It was followed by Japan, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-1.7% per year) and Japan (+4.1% per year).

Import Prices by Country

In 2022, the average common pottery import price amounted to $X per ton, growing by 3.8% against the previous year. Over the last decade, it increased at an average annual rate of +3.5%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 7% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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