Singapore: Ink-Pad Market 2024

Ink-Pad Market Size in Singapore

In 2022, the Singaporean ink-pad market decreased by -48.2% to $X for the first time since 2018, thus ending a three-year rising trend. In general, consumption recorded a abrupt setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Ink-Pad Production in Singapore

In value terms, ink-pad production stood at $X in 2022 estimated in export price. Overall, production, however, faced a deep downturn. The most prominent rate of growth was recorded in 2015 with an increase of 395% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Ink-Pad Exports

Exports from Singapore

Ink-pad exports from Singapore skyrocketed to X units in 2022, growing by 200% compared with the previous year. In general, exports, however, faced a abrupt shrinkage. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, ink-pad exports skyrocketed to $X in 2022. Overall, exports, however, saw a abrupt contraction. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X units) was the main destination for ink-pad exports from Singapore, with a 55% share of total exports. Moreover, ink-pad exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X units), threefold. The third position in this ranking was taken by India (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Indonesia amounted to +10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-4.7% per year) and India (+32.6% per year).

In value terms, Indonesia ($X) remains the key foreign market for ink-pads exports from Singapore, comprising 56% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 19% share of total exports. It was followed by India, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Indonesia amounted to +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-6.1% per year) and India (+29.8% per year).

Export Prices by Country

In 2022, the average ink-pad export price amounted to $X per unit, increasing by 30% against the previous year. In general, the export price, however, showed a mild decrease. The growth pace was the most rapid in 2017 when the average export price increased by 88%. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Philippines ($X per unit) and Indonesia ($X per unit), while the average price for exports to Bangladesh ($X per unit) and India ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+6.2%), while the prices for the other major destinations experienced mixed trend patterns.

Ink-Pad Imports

Imports into Singapore

In 2022, the amount of ink-pads imported into Singapore dropped to X units, which is down by -7.9% against 2021 figures. Over the period under review, imports recorded a deep contraction. The pace of growth appeared the most rapid in 2013 when imports increased by 43% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, ink-pad imports dropped to $X in 2022. Overall, imports recorded a abrupt downturn. The pace of growth was the most pronounced in 2013 when imports increased by 43%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of ink-pad to Singapore, accounting for a 36% share of total imports. Moreover, ink-pad imports from China exceeded the figures recorded by the second-largest supplier, France (X units), twofold. The United States (X units) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +25.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+81.6% per year) and the United States (-11.4% per year).

In value terms, China ($X) constituted the largest supplier of ink-pads to Singapore, comprising 38% of total imports. The second position in the ranking was held by France ($X), with a 17% share of total imports. It was followed by the United States, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +24.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+83.6% per year) and the United States (-12.3% per year).

Import Prices by Country

In 2022, the average ink-pad import price amounted to $X per unit, declining by -7.4% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 9.7%. As a result, import price attained the peak level of $X per unit, and then shrank in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Japan ($X per unit) and France ($X per unit), while the price for Taiwan (Chinese) ($X per unit) and Vietnam ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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