Singapore: Flat Glass Market 2024

Flat Glass Market Size in Singapore

In 2021, the Singaporean flat glass market increased by 48% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, saw a abrupt setback. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Flat Glass Exports

Exports from Singapore

In 2021, exports of flat glass from Singapore expanded rapidly to X tons, surging by 8.7% on 2020 figures. In general, exports, however, showed a slight reduction. The most prominent rate of growth was recorded in 2019 when exports increased by 74% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, flat glass exports expanded sharply to $X in 2021. Overall, exports, however, continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2019 when exports increased by 63% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for flat glass exports from Singapore, with a 40% share of total exports. Moreover, flat glass exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, Indonesia (X tons), fivefold. India (X tons) ranked third in terms of total exports with an 8.8% share.

From 2012 to 2021, the average annual growth rate of volume to Taiwan (Chinese) amounted to +41.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-17.5% per year) and India (+24.1% per year).

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for flat glass exports from Singapore, comprising 34% of total exports. The second position in the ranking was held by Indonesia ($X), with a 10% share of total exports. It was followed by Vietnam, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Taiwan (Chinese) stood at -4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-14.7% per year) and Vietnam (+42.0% per year).

Export Prices by Country

In 2021, the average flat glass export price amounted to $X per ton, picking up by 2.4% against the previous year. Overall, the export price, however, saw a abrupt descent. The pace of growth was the most pronounced in 2013 when the average export price increased by 13% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Myanmar ($X per ton), while the average price for exports to Israel ($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 Myanmar (+34.3%), while the prices for the other major destinations experienced more modest paces of growth.

Flat Glass Imports

Imports into Singapore

After two years of decline, purchases abroad of flat glass increased by 36% to X tons in 2021. Over the period under review, imports, however, faced a deep contraction. The pace of growth appeared the most rapid in 2015 when imports increased by 92% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, flat glass imports soared to $X in 2021. Overall, imports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2015 when imports increased by 92%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest flat glass supplier to Singapore, accounting for a 43% share of total imports. Moreover, flat glass imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Indonesia (X tons) ranked third in terms of total imports with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia totaled +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-16.1% per year) and Indonesia (-7.7% per year).

In value terms, Malaysia ($X) constituted the largest supplier of flat glass to Singapore, comprising 42% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports. It was followed by the United States, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value from Malaysia stood at +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-13.1% per year) and the United States (+19.7% per year).

Import Prices by Country

In 2021, the average flat glass import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the last nine years, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2018 an increase of 16% against the previous year. The import price peaked in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+72.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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