Singapore: Vulcanised Rubber Erases Market 2024

Vulcanised Rubber Erases Market Size in Singapore

The Singaporean vulcanised rubber erases market skyrocketed to $X in 2021, growing by 54% against the previous year. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +75.5% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Vulcanised Rubber Erases Production in Singapore

In value terms, vulcanised rubber erases production surged to $X in 2021 estimated in export price. Overall, the total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.3% 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 -11.8% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 27% against the previous year. Vulcanised rubber erases production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Vulcanised Rubber Erases Exports

Exports from Singapore

Vulcanised rubber erases exports from Singapore soared to X tons in 2021, jumping by 58% on the previous year. Over the period under review, total exports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, vulcanised rubber erases exports expanded remarkably to $X in 2021. In general, exports continue to indicate temperate growth. The most prominent rate of growth was recorded in 2018 when exports increased by 72% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for vulcanised rubber erases exports from Singapore, accounting for a 85% share of total exports. Moreover, vulcanised rubber erases exports to Malaysia exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia totaled +29.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-8.1% per year) and Taiwan (Chinese) (+168.2% per year).

In value terms, Malaysia ($X) remains the key foreign market for erasers of vulcanised rubber exports from Singapore, comprising 83% of total exports. The second position in the ranking was held by Vietnam ($X), with a 5.2% share of total exports. It was followed by Japan, with a 3.2% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia amounted to +30.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-7.2% per year) and Japan (+65.7% per year).

Export Prices by Country

The average vulcanised rubber erases export price stood at $X per ton in 2021, dropping by -28% against the previous year. Over the period under review, the export price, however, continues to indicate modest growth. The most prominent rate of growth was recorded in 2017 an increase of 34% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, 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 Japan ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Japan (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Erases Imports

Imports into Singapore

In 2021, the amount of erasers of vulcanised rubber imported into Singapore soared to X tons, jumping by 50% on the previous year. Over the period under review, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +44.9% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, vulcanised rubber erases imports surged to $X in 2021. In general, imports showed a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand (X tons), Indonesia (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of vulcanised rubber erases imports to Singapore, together accounting for 86% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +125.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Thailand ($X), Indonesia ($X) and Taiwan (Chinese) ($X) constituted the largest vulcanised rubber erases suppliers to Singapore, with a combined 86% share of total imports.

Indonesia, with a CAGR of +131.1%, recorded the highest growth rate of 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

The average vulcanised rubber erases import price stood at $X per ton in 2021, with an increase of 21% against the previous year. Over the last nine years, it increased at an average annual rate of +1.6%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Indonesia ($X per ton) and China ($X per ton), while the price for Malaysia ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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