Singapore: Pharmaceutical Rubber Articles Market 2024

Pharmaceutical Rubber Articles Market Size in Singapore

The Singaporean pharmaceutical rubber articles market surged to $X in 2021, picking up by 83% against the previous year. Over the period under review, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.6% 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 +88.2% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Pharmaceutical Rubber Articles Production in Singapore

In value terms, pharmaceutical rubber articles production soared to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt contraction. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Pharmaceutical Rubber Articles Exports

Exports from Singapore

In 2021, exports of hygienic or pharmaceutical articles of rubber from Singapore contracted dramatically to X units, which is down by -45.7% on 2020 figures. In general, exports faced a abrupt descent. The growth pace was the most rapid in 2019 when exports increased by 9.4% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, pharmaceutical rubber articles exports reduced notably to $X in 2021. Overall, exports saw a abrupt slump. The growth pace was the most rapid in 2013 with an increase of 14%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X units), Malaysia (X units) and Indonesia (X units) were the main destinations of pharmaceutical rubber articles exports from Singapore, together accounting for 44% of total exports. Vietnam, Bangladesh, Belgium, Cambodia, Pakistan, Thailand, China, the Philippines, India and the United States lagged somewhat behind, together comprising a further 46%.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +26.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Malaysia ($X) and Indonesia ($X) appeared to be the largest markets for pharmaceutical rubber articles exported from Singapore worldwide, with a combined 44% share of total exports. Vietnam, Bangladesh, Belgium, Cambodia, Pakistan, Thailand, China, the Philippines, India and the United States lagged somewhat behind, together comprising a further 47%.

Among the main countries of destination, Cambodia, with a CAGR of +27.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average pharmaceutical rubber articles export price amounted to $X per unit, shrinking by -1.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2014 an increase of 21% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Belgium ($X per unit) and Germany ($X per unit), while the average price for exports to Pakistan ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Pharmaceutical Rubber Articles Imports

Imports into Singapore

In 2021, supplies from abroad of hygienic or pharmaceutical articles of rubber decreased by -10% to X units, falling for the third consecutive year after two years of growth. Overall, imports recorded a noticeable downturn. The most prominent rate of growth was recorded in 2017 with an increase of 63%. Imports peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, pharmaceutical rubber articles imports shrank slightly to $X in 2021. In general, imports continue to indicate a slight reduction. The most prominent rate of growth was recorded in 2017 with an increase of 72%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Indonesia (X units) and Malaysia (X units) were the main suppliers of pharmaceutical rubber articles imports to Singapore, with a combined 83% share of total imports. These countries were followed by Mexico, the United States, Hong Kong SAR, the UK and Japan, which together accounted for a further 10%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +41.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest pharmaceutical rubber articles suppliers to Singapore were China ($X), Indonesia ($X) and Malaysia ($X), with a combined 83% share of total imports. These countries were followed by Mexico, the United States, Hong Kong SAR, the UK and Japan, which together accounted for a further 10%.

Among the main suppliers, Mexico, with a CAGR of +45.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average pharmaceutical rubber articles import price stood at $X per unit in 2021, with an increase of 9.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.5%. The growth pace was the most rapid in 2020 an increase of 15% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Japan ($X per unit) and Mexico ($X per unit), while the price for China ($X per unit) and Indonesia ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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