Singapore: Market for Drawn Glass And Blown Glass 2024

Market Size for Drawn Glass And Blown Glass in Singapore

In 2021, the Singaporean market for drawn glass and blown glass increased by 14% to $X for the first time since 2017, thus ending a three-year declining trend. In general, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Production of Drawn Glass And Blown Glass in Singapore

In value terms, drawn glass and blown glass production amounted to $X in 2021 estimated in export price. Overall, the total production indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -19.5% against 2016 indices. The most prominent rate of growth was recorded in 2015 with an increase of 67% against the previous year. Drawn glass and blown glass production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Exports of Drawn Glass And Blown Glass

Exports from Singapore

In 2021, drawn glass and blown glass exports from Singapore skyrocketed to X square meters, surging by 25% against the previous year's figure. Overall, exports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 128% against the previous year. The exports peaked at X square meters in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, drawn glass and blown glass exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2018 when exports increased by 363% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Indonesia (X square meters), Brunei Darussalam (X square meters) and Hong Kong SAR (X square meters) were the main destinations of drawn glass and blown glass exports from Singapore, together accounting for 63% of total exports. Gabon, Maldives, Taiwan (Chinese), Japan, China, Malaysia and France lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +39.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Hong Kong SAR ($X) and Brunei Darussalam ($X) constituted the largest markets for drawn glass and blown glass exported from Singapore worldwide, with a combined 60% share of total exports. These countries were followed by Gabon, France, China, Malaysia, Japan, Maldives and Taiwan (Chinese), which together accounted for a further 29%.

In terms of the main countries of destination, Japan, with a CAGR of +26.0%, 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

In 2021, the average export price for drawn glass and blown glass amounted to $X per square meter, increasing by 15% against the previous year. In general, the export price saw buoyant growth. The growth pace was the most rapid in 2018 an increase of 103% against the previous year. As a result, the export price reached the peak level of $X per square meter. From 2019 to 2021, the average 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 France ($X per square meter), while the average price for exports to Maldives ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+23.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Drawn Glass And Blown Glass

Imports into Singapore

For the third consecutive year, Singapore recorded growth in overseas purchases of drawn glass and blown glass, which increased by 123% to X square meters in 2021. In general, imports recorded notable growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, drawn glass and blown glass imports surged to $X in 2021. Overall, imports saw noticeable growth. The most prominent rate of growth was recorded in 2019 when imports increased by 95%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Vietnam (X square meters), China (X square meters) and the United States (X square meters) were the main suppliers of drawn glass and blown glass imports to Singapore, together comprising 98% of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +29.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest drawn glass and blown glass suppliers to Singapore were China ($X), the United States ($X) and Vietnam ($X), with a combined 88% share of total imports.

The United States, with a CAGR of +27.4%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for drawn glass and blown glass amounted to $X per square meter, dropping by -43.9% against the previous year. Overall, the import price, however, posted a mild increase. The growth pace was the most rapid in 2013 an increase of 84% against the previous year. The import price peaked at $X per square meter in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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 the United States ($X per square meter), while the price for Vietnam ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+22.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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