Singapore: Hard Plastic Comb Market 2024

Hard Plastic Comb Market Size in Singapore

In 2022, the Singaporean hard plastic comb market decreased by -93.5% to $X for the first time since 2017, thus ending a four-year rising trend. Over the period under review, consumption saw a deep reduction. Over the period under review, the market hit record highs at $X in 2021, and then fell sharply in the following year.

Hard Plastic Comb Exports

Exports from Singapore

In 2022, overseas shipments of hard rubber or plastic combs increased by 97% to X tons, rising for the third consecutive year after four years of decline. In general, exports posted buoyant growth. The growth pace was the most rapid in 2021 when exports increased by 111% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, hard plastic comb exports surged to $X in 2022. Overall, exports saw a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The Philippines (X tons), China (X tons) and Germany (X tons) were the main destinations of hard plastic comb exports from Singapore, with a combined 78% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +63.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hard plastic comb exported from Singapore were the Philippines ($X), China ($X) and Germany ($X), together comprising 75% of total exports. The United Arab Emirates, the United States, South Korea, Indonesia, Hong Kong SAR and Malaysia lagged somewhat behind, together comprising a further 18%.

The United Arab Emirates, with a CAGR of +80.9%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the average hard plastic comb export price amounted to $X per ton, surging by 41% against the previous year. Overall, export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Hong Kong SAR ($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 the United Arab Emirates (+12.2%), while the prices for the other major destinations experienced more modest paces of growth.

Hard Plastic Comb Imports

Imports into Singapore

In 2022, purchases abroad of hard rubber or plastic combs decreased by -83.7% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 368% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then dropped significantly in the following year.

In value terms, hard plastic comb imports shrank remarkably to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 368% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then dropped notably in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of hard plastic comb to Singapore, with a 68% share of total imports. Moreover, hard plastic comb imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. Vietnam (X tons) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+9.7% per year) and Vietnam (+14.5% per year).

In value terms, China ($X) constituted the largest supplier of hard rubber or plastic combs to Singapore, comprising 72% of total imports. The second position in the ranking was held by Malaysia ($X), with a 13% share of total imports. It was followed by Vietnam, with a 2.5% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+10.5% per year) and Vietnam (+19.6% per year).

Import Prices by Country

In 2022, the average hard plastic comb import price amounted to $X per ton, picking up by 11% against the previous year. Over the last decade, it increased at an average annual rate of +3.8%. The pace of growth was the most pronounced in 2018 an increase of 16% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Vietnam ($X per ton) and South Korea ($X per ton), while the price for Malaysia ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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