Singapore: Market for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings 2024

Market Size for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings in Singapore

In 2022, the Singaporean market for glaziers putty, grafting putty, other mastics and painters' fillings increased by 3.6% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, saw a notable increase. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Exports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Exports from Singapore

In 2022, approx. X tons of glaziers putty, grafting putty, other mastics and painters' fillings were exported from Singapore; with a decrease of -6.7% against the year before. Over the period under review, total exports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -36.4% against 2017 indices. The pace of growth was the most pronounced in 2015 when exports increased by 27% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, exports of glaziers putty, grafting putty, other mastics and painters' fillings declined slightly to $X in 2022. In general, exports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 37%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons), China (X tons) and Thailand (X tons) were the main destinations of exports of glaziers putty, grafting putty, other mastics and painters' fillings from Singapore, with a combined 46% share of total exports. Hong Kong SAR, Indonesia, Vietnam, Taiwan (Chinese), the Philippines, Australia, Japan, Brunei Darussalam, New Zealand and India lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +60.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Thailand ($X) and China ($X) appeared to be the largest markets for glaziers, grafting putty and painters' filling exported from Singapore worldwide, together comprising 52% of total exports. Indonesia, Vietnam, Taiwan (Chinese), the Philippines, Hong Kong SAR, New Zealand, Japan, Australia, India and Brunei Darussalam lagged somewhat behind, together accounting for a further 41%.

Japan, with a CAGR of +67.3%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for glaziers putty, grafting putty, other mastics and painters' fillings stood at $X per ton in 2022, with an increase of 6.8% against the previous year. Overall, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for glaziers putty, grafting putty, other mastics and painters' fillings increased by +87.6% against 2015 indices. The growth pace was the most rapid in 2016 an increase of 19%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Brunei Darussalam ($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 (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Imports into Singapore

In 2022, approx. X tons of glaziers putty, grafting putty, other mastics and painters' fillings were imported into Singapore; with a decrease of -17.5% against the year before. Over the period under review, imports recorded a slight descent. The pace of growth was the most pronounced in 2015 with an increase of 47% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, imports of glaziers putty, grafting putty, other mastics and painters' fillings surged to $X in 2022. In general, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.3% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 52% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest glaziers, grafting putty and painters' filling supplier to Singapore, accounting for a 54% share of total imports. Moreover, imports of glaziers putty, grafting putty, other mastics and painters' fillings from Malaysia exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. The third position in this ranking was taken by China (X tons), with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia amounted to -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.8% per year) and China (+9.7% per year).

In value terms, Germany ($X), the United States ($X) and Malaysia ($X) constituted the largest glaziers, grafting putty and painters' filling suppliers to Singapore, with a combined 67% share of total imports.

The United States, with a CAGR of +14.9%, saw 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 2022, the average import price for glaziers putty, grafting putty, other mastics and painters' fillings amounted to $X per ton, rising by 43% against the previous year. In general, the import price saw a strong expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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