Singapore: Fireclay Market 2024

Fireclay Market Size in Singapore

For the fifth consecutive year, the Singaporean fireclay market recorded growth in sales value, which increased by 0.2% to $X in 2021. Over the period under review, the total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +44.1% against 2016 indices. Fireclay consumption peaked in 2021 and is expected to retain growth in the immediate term.

Fireclay Production in Singapore

In value terms, fireclay production dropped modestly to $X in 2021 estimated in export price. Overall, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +52.8% against 2016 indices. The growth pace was the most rapid in 2018 with an increase of 24% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then fell modestly in the following year.

Fireclay Exports

Exports from Singapore

In 2021, fireclay exports from Singapore declined markedly to X tons, waning by -95.3% compared with 2020. Over the period under review, exports recorded a dramatic contraction. The most prominent rate of growth was recorded in 2017 with an increase of 34,657%. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, fireclay exports dropped sharply to $X in 2021. In general, exports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2017 when exports increased by 35,831%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons) was the main destination for fireclay exports from Singapore, with a 87% share of total exports. Moreover, fireclay exports to Vietnam exceeded the volume sent to the second major destination, Malaysia (X kg), tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-37.5% per year) and China (0.0% per year).

In value terms, Vietnam ($X) emerged as the key foreign market for fireclay exports from Singapore, comprising 92% of total exports. The second position in the ranking was taken by China ($X), with a 4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (0.0% per year) and Malaysia (-32.3% per year).

Export Prices by Country

The average fireclay export price stood at $X per ton in 2021, picking up by 150% against the previous year. Overall, the export price enjoyed a prominent increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Malaysia ($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 Malaysia (+8.4%).

Fireclay Imports

Imports into Singapore

In 2021, purchases abroad of fireclay increased by 20% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, continue to indicate a abrupt setback. The growth pace was the most rapid in 2015 with an increase of 97% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, fireclay imports surged to $X in 2021. Overall, imports, however, showed a perceptible setback. The pace of growth was the most pronounced in 2017 with an increase of 164% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest fireclay supplier to Singapore, with a 57% share of total imports. Moreover, fireclay imports from China exceeded the figures recorded by the second-largest supplier, Australia (X tons), threefold. The United States (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +24.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+26.9% per year) and the United States (+13.6% per year).

In value terms, the largest fireclay suppliers to Singapore were Australia ($X), China ($X) and the United States ($X), with a combined 85% share of total imports.

China, with a CAGR of +30.5%, recorded the highest growth rate of the value of imports, in terms of 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 fireclay import price amounted to $X per ton, increasing by 1.5% against the previous year. In general, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fireclay import price increased by +128.0% against 2016 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by 64% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Australia ($X per ton), while the price for China ($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 (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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