Singapore: Hollow Drill Bar Market 2025

Hollow Drill Bar Market Size in Singapore

In 2021, the Singaporean hollow drill bar market increased by 26% to $X, rising for the third year in a row after two years of decline. Over the period under review, the total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +53.7% against 2018 indices. Over the period under review, the market reached the peak level in 2021 and is likely to see gradual growth in the near future.

Hollow Drill Bar Production in Singapore

In value terms, hollow drill bar production reduced modestly to $X in 2021 estimated in export price. Overall, production, however, saw a slight shrinkage. The growth pace was the most rapid in 2018 with an increase of 43%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Hollow Drill Bar Exports

Exports from Singapore

In 2021, shipments abroad of hollow drill bars and rods decreased by -46.3% to X tons, falling for the third consecutive year after two years of growth. In general, exports continue to indicate a sharp curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 194%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, hollow drill bar exports reduced markedly to $X in 2021. Overall, exports continue to indicate a sharp descent. The most prominent rate of growth was recorded in 2018 when exports increased by 122%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons), India (X tons) and Thailand (X tons) were the main destinations of hollow drill bar exports from Singapore, with a combined 79% share of total exports. These countries were followed by Malaysia, Sri Lanka, France, Australia and Vietnam, which together accounted for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +67.6%), while the other leaders experienced a decline.

In value terms, Malaysia ($X), Thailand ($X) and Indonesia ($X) appeared to be the largest markets for hollow drill bar exported from Singapore worldwide, with a combined 64% share of total exports. These countries were followed by India, Australia, France, Sri Lanka and Vietnam, which together accounted for a further 24%.

France, with a CAGR of +17.3%, 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 a decline.

Export Prices by Country

In 2021, the average hollow drill bar export price amounted to $X per ton, with a decrease of -31.2% against the previous year. In general, the export price recorded a pronounced decline. The growth pace was the most rapid in 2020 when the average export price increased by 206% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to India ($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 Vietnam (+7.9%), while the prices for the other major destinations experienced mixed trend patterns.

Hollow Drill Bar Imports

Imports into Singapore

In 2021, purchases abroad of hollow drill bars and rods was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports saw a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, hollow drill bar imports surged to $X in 2021. In general, imports continue to indicate strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Poland (X tons) constituted the largest supplier of hollow drill bar to Singapore, accounting for a 47% share of total imports. Moreover, hollow drill bar imports from Poland exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. The third position in this ranking was held by Thailand (X tons), with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Poland was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+147.8% per year) and Thailand (+56.2% per year).

In value terms, Japan ($X) constituted the largest supplier of hollow drill bars and rods to Singapore, comprising 59% of total imports. The second position in the ranking was taken by Thailand ($X), with a 26% share of total imports. It was followed by Poland, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value from Japan stood at +171.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+66.8% per year) and Poland (0.0% per year).

Import Prices by Country

The average hollow drill bar import price stood at $X per ton in 2021, growing by 15% against the previous year. Overall, import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hollow drill bar import price increased by +27.6% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 86% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a 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 Japan ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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