Singapore: Market for Flexible Tubes, Pipes and Hoses of Plastics, with Fittings 2024

Market Size for Flexible Tubes, Pipes and Hoses of Plastics, with Fittings in Singapore

In 2022, the Singaporean market for flexible tubes, pipes and hoses of plastics, with fittings decreased by -63.4% to $X, falling for the second consecutive year after seven years of growth. Overall, consumption saw a mild contraction. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Flexible Tubes, Pipes and Hoses of Plastics, with Fittings in Singapore

In value terms, production of flexible tubes, pipes and hoses of plastics, with fittings soared to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 137%. Over the period under review, production of reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Flexible Tubes, Pipes and Hoses of Plastics, with Fittings

Exports from Singapore

In 2022, exports of flexible tubes, pipes and hoses of plastics, with fittings from Singapore skyrocketed to X tons, picking up by 612% against 2021. Over the period under review, exports continue to indicate resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of flexible tubes, pipes and hoses of plastics, with fittings soared to $X in 2022. Overall, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for exports of flexible tubes, pipes and hoses of plastics, with fittings from Singapore, with a 64% share of total exports. Moreover, exports of flexible tubes, pipes and hoses of plastics, with fittings to the United States exceeded the volume sent to the second major destination, Malaysia (X tons), fivefold. Australia (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +105.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+6.9% per year) and Australia (+22.3% per year).

In value terms, the United States ($X) remains the key foreign market for flexible tubes, pipes and hoses of plastics, with fittings exports from Singapore, comprising 87% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 4.1% share of total exports. It was followed by Australia, with a 1.6% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +127.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+71.6% per year) and Australia (+26.3% per year).

Export Prices by Country

In 2022, the average export price for flexible tubes, pipes and hoses of plastics, with fittings amounted to $X per ton, with an increase of 74% against the previous year. Overall, the export price showed a significant increase. The pace of growth appeared the most rapid in 2015 when the average export price increased by 96%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Malaysia ($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 Vietnam (+19.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flexible Tubes, Pipes and Hoses of Plastics, with Fittings

Imports into Singapore

In 2022, overseas purchases of flexible tubes, pipes and hoses of plastics, with fittings were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports saw a prominent increase. The growth pace was the most rapid in 2013 with an increase of 80% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, imports of flexible tubes, pipes and hoses of plastics, with fittings skyrocketed to $X in 2022. Over the period under review, imports saw a prominent increase. The pace of growth appeared the most rapid in 2013 when imports increased by 73% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of flexible tubes, pipes and hoses of plastics, with fittings to Singapore, with a 58% share of total imports. Moreover, imports of flexible tubes, pipes and hoses of plastics, with fittings from the United States exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. China (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +16.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+13.1% per year) and China (+9.7% per year).

In value terms, the United States ($X) constituted the largest supplier of flexible tubes, pipes and hoses of plastics, with fittings to Singapore, comprising 46% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 20% share of total imports. It was followed by China, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+38.9% per year) and China (+21.9% per year).

Import Prices by Country

The average import price for flexible tubes, pipes and hoses of plastics, with fittings stood at $X per ton in 2022, rising by 18% against the previous year. Overall, the import price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2020 when the average import price increased by 44%. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+31.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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