Singapore: Market for Flexible Tubes, Pipes and Hoses of Plastics, without Fittings 2024

Market Size for Flexible Tubes, Pipes and Hoses of Plastics, without Fittings in Singapore

After five years of growth, the Singaporean market for flexible tubes, pipes and hoses of plastics, without fittings decreased by -2.6% to $X in 2022. In general, consumption, however, enjoyed buoyant growth. Consumption of peaked at $X in 2021, and then declined in the following year.

Exports of Flexible Tubes, Pipes and Hoses of Plastics, without Fittings

Exports from Singapore

In 2022, overseas shipments of flexible tubes, pipes and hoses of plastics, without fittings increased by 4.4% to X tons, rising for the second year in a row after four years of decline. Overall, exports posted resilient growth. The pace of growth appeared the most rapid in 2016 with an increase of 74% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of flexible tubes, pipes and hoses of plastics, without fittings expanded remarkably to $X in 2022. In general, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 63%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Indonesia (X tons), Malaysia (X tons) and Japan (X tons) were the main destinations of exports of flexible tubes, pipes and hoses of plastics, without fittings from Singapore, together accounting for 61% of total exports. Australia, Vietnam, Taiwan (Chinese), India, South Korea, Thailand and Maldives lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, 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 +65.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for flexible tubes, pipes and hoses of plastics, without fittings exported from Singapore were Malaysia ($X), Indonesia ($X) and India ($X), together comprising 47% of total exports. Vietnam, Japan, Thailand, Taiwan (Chinese), Australia, South Korea and Maldives lagged somewhat behind, together comprising a further 19%.

In terms of the main countries of destination, Taiwan (Chinese), with a CAGR of +44.4%, 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 2022, the average export price for flexible tubes, pipes and hoses of plastics, without fittings amounted to $X per ton, rising by 6.2% against the previous year. In general, the export price posted a resilient expansion. The pace of growth appeared the most rapid in 2018 an increase of 52%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Maldives ($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 Japan (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flexible Tubes, Pipes and Hoses of Plastics, without Fittings

Imports into Singapore

In 2022, purchases abroad of flexible tubes, pipes and hoses of plastics, without fittings decreased by -22.9% to X tons, falling for the second year in a row after nine years of growth. Overall, imports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2014 when imports increased by 43% against the previous year. Over the period under review, imports of reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, imports of flexible tubes, pipes and hoses of plastics, without fittings skyrocketed to $X in 2022. Over the period under review, imports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2017 when imports increased by 43%. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest flexible tubes, pipes and hoses of plastics, without fittings supplier to Singapore, with a 64% share of total imports. Moreover, imports of flexible tubes, pipes and hoses of plastics, without fittings from the United States exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fivefold. The third position in this ranking was taken by China (X tons), with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +36.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+13.6% per year) and China (+6.2% per year).

In value terms, the United States ($X) constituted the largest supplier of flexible tubes, pipes and hoses of plastics, without fittings to Singapore, comprising 64% of total imports. The second position in the ranking was held by Japan ($X), with a 6% share of total imports. It was followed by China, with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +24.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+8.8% per year) and China (+15.7% per year).

Import Prices by Country

The average import price for flexible tubes, pipes and hoses of plastics, without fittings stood at $X per ton in 2022, jumping by 56% against the previous year. In general, the import price saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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