Singapore: Market for Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates 2024

Market Size for Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates in Singapore

In 2021, the Singaporean market for gravel, pebbles and crushed stone for concrete and road aggregates was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, the total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -23.6% against 2018 indices. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Production of Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates in Singapore

In value terms, production of gravel, pebbles and crushed stone for concrete and road aggregates reduced sharply to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a prominent increase. Over the period under review, production of reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates

Exports from Singapore

In 2021, overseas shipments of gravel, pebbles and crushed stone for concrete and road aggregates decreased by -68.9% to X tons, falling for the third consecutive year after three years of growth. Overall, exports showed a dramatic descent. The growth pace was the most rapid in 2018 with an increase of 527%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of gravel, pebbles and crushed stone for concrete and road aggregates dropped sharply to $X in 2021. In general, exports faced a sharp descent. The most prominent rate of growth was recorded in 2016 when exports increased by 630%. Over the period under review, the exports of reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

British Indian Ocean Territory (X tons) was the main destination for exports of gravel, pebbles and crushed stone for concrete and road aggregates from Singapore, accounting for a 48% share of total exports. Moreover, exports of gravel, pebbles and crushed stone for concrete and road aggregates to British Indian Ocean Territory exceeded the volume sent to the second major destination, Iraq (X tons), threefold. Maldives (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to British Indian Ocean Territory was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (0.0% per year) and Maldives (-13.2% per year).

In value terms, Iraq ($X) emerged as the key foreign market for gravel, pebbles and crushed stone for concrete and road aggregates exports from Singapore, comprising 53% of total exports. The second position in the ranking was held by Maldives ($X), with a 17% share of total exports. It was followed by Malaysia, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Iraq was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+3.9% per year) and Malaysia (-43.6% per year).

Export Prices by Country

In 2021, the average export price for gravel, pebbles and crushed stone for concrete and road aggregates amounted to $X per ton, falling by -9.5% against the previous year. Over the period under review, the export price, however, saw resilient growth. The pace of growth appeared the most rapid in 2019 an increase of 159% against the previous year. The export price peaked at $X per ton in 2020, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to British Indian Ocean Territory ($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 the United Arab Emirates (+37.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates

Imports into Singapore

In 2021, approx. X tons of gravel, pebbles and crushed stone for concrete and road aggregates were imported into Singapore; picking up by 31% on the year before. Over the period under review, total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -19.2% against 2019 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 56% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of gravel, pebbles and crushed stone for concrete and road aggregates soared to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 73%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports of remained at a lower figure.

Imports by Country

Indonesia (X tons), Malaysia (X tons) and Thailand (X tons) were the main suppliers of imports of gravel, pebbles and crushed stone for concrete and road aggregates to Singapore, together comprising 97% of total imports. Vietnam and China lagged somewhat behind, together accounting for a further 3.4%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +31.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and Thailand ($X) appeared to be the largest gravel, pebbles and crushed stone for concrete and road aggregates suppliers to Singapore, with a combined 94% share of total imports. Vietnam and China lagged somewhat behind, together comprising a further 6%.

Vietnam, with a CAGR of +28.6%, recorded 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

The average import price for gravel, pebbles and crushed stone for concrete and road aggregates stood at $X per ton in 2021, approximately equating the previous year. Overall, the import price continues to indicate a noticeable setback. The growth pace was the most rapid in 2013 an increase of 11% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Indonesia ($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 (-1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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