Singapore: Market for Double Or Complex Silicates 2024

Market Size for Double Or Complex Silicates in Singapore

The Singaporean double or complex silicates market expanded markedly to $X in 2021, growing by 5.9% 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). Over the period under review, the total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -14.0% against 2019 indices. Double or complex silicates consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Exports of Double Or Complex Silicates

Exports from Singapore

In 2021, the amount of double or complex silicates exported from Singapore skyrocketed to X tons, rising by 69% on 2020. In general, exports showed a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 741%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, double or complex silicates exports shrank modestly to $X in 2021. Overall, exports, however, saw a mild setback. The most prominent rate of growth was recorded in 2020 when exports increased by 131% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons), Taiwan (Chinese) (X tons) and Myanmar (X tons) were the main destinations of double or complex silicates exports from Singapore, with a combined 68% 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 Taiwan (Chinese) (with a CAGR of +298.6%), while the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Malaysia ($X) and Indonesia ($X) were the largest markets for double or complex silicates exported from Singapore worldwide, with a combined 49% share of total exports.

Taiwan (Chinese), with a CAGR of +106.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average double or complex silicates export price amounted to $X per ton, shrinking by -42.5% against the previous year. Overall, the export price continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2014 when the average export price increased by 141%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Australia ($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 Egypt (+82.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Double Or Complex Silicates

Imports into Singapore

In 2021, the amount of double or complex silicates imported into Singapore soared to X tons, increasing by 16% on the previous year. Overall, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 44% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, double or complex silicates imports declined to $X in 2021. The total import value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 19% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

India (X tons), Japan (X tons) and Thailand (X tons) were the main suppliers of double or complex silicates imports to Singapore, together accounting for 74% of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +37.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of double or complex silicates to Singapore, comprising 55% of total imports. The second position in the ranking was taken by India ($X), with a 13% share of total imports. It was followed by Taiwan (Chinese), with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value from Japan totaled +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+19.9% per year) and Taiwan (Chinese) (-6.0% per year).

Import Prices by Country

In 2021, the average double or complex silicates import price amounted to $X per ton, falling by -15.1% against the previous year. Over the period under review, the import price showed a abrupt curtailment. The pace of growth was the most pronounced in 2020 an increase of 28%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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