Singapore: Fluorspar Market 2024

Fluorspar Market Size in Singapore

The Singaporean fluorspar market contracted to $X in 2021, shrinking by -10.6% against the previous year. Over the period under review, consumption showed a perceptible downturn. Fluorspar consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Fluorspar Production in Singapore

In value terms, fluorspar production shrank remarkably to $X in 2021 estimated in export price. In general, production, however, saw a noticeable shrinkage. The pace of growth was the most pronounced in 2013 when the production volume increased by 112% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Fluorspar Exports

Exports from Singapore

In 2021, approx. X tons of fluorspar were exported from Singapore; with an increase of 48% on 2020 figures. Overall, exports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 246% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; afterwards, it flattened through to 2021.

In value terms, fluorspar exports soared to $X in 2021. Over the period under review, exports showed strong growth. The pace of growth was the most pronounced in 2020 when exports increased by 210% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for fluorspar exports from Singapore, accounting for a 97% share of total exports. It was followed by Thailand (X tons), with a 2.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia totaled +14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+62.5% per year) and Indonesia (-46.2% per year).

In value terms, Malaysia ($X) remains the key foreign market for fluorspar exports from Singapore, comprising 91% of total exports. The second position in the ranking was taken by Thailand ($X), with an 8.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Malaysia amounted to +11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+117.5% per year) and Indonesia (-33.7% per year).

Export Prices by Country

In 2021, the average fluorspar export price amounted to $X per ton, waning by -2.9% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 7.8%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Malaysia ($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 Thailand (+33.9%), while the prices for the other major destinations experienced mixed trend patterns.

Fluorspar Imports

Imports into Singapore

For the third consecutive year, Singapore recorded decline in purchases abroad of fluorspar, which decreased by -23.6% to X tons in 2021. Overall, imports continue to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2018 with an increase of 38% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, fluorspar imports dropped significantly to $X in 2021. In general, imports saw a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 35% against the previous year. Imports peaked 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 fluorspar supplier to Singapore, with a 57% share of total imports. Moreover, fluorspar imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. Pakistan (X tons) ranked third in terms of total imports with a 20% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-16.6% per year) and Pakistan (+21.1% per year).

In value terms, the largest fluorspar suppliers to Singapore were China ($X), Japan ($X) and Pakistan ($X), together comprising 99% of total imports.

In terms of the main suppliers, China, with a CAGR of +19.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average fluorspar import price amounted to $X per ton, standing approx. at the previous year. In general, the import price continues to indicate a deep slump. The pace of growth appeared the most rapid in 2019 when the average import price increased by 49%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+1.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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