Singapore: Insulating Fittings Market 2025

Insulating Fittings Market Size in Singapore

The Singaporean insulating fittings market fell remarkably to $X in 2021, reducing by -29.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, posted a resilient expansion. Insulating fittings consumption peaked at $X in 2020, and then dropped notably in the following year.

Insulating Fittings Exports

Exports from Singapore

In 2021, after four years of decline, there was significant growth in shipments abroad of insulating fittings for electrical purposes, when their volume increased by 146% to X tons. In general, exports, however, showed a abrupt descent. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, insulating fittings exports skyrocketed to $X in 2021. Overall, exports, however, recorded a abrupt decrease. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons) was the main destination for insulating fittings exports from Singapore, accounting for a 45% share of total exports. Moreover, insulating fittings exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X tons), threefold. The Philippines (X tons) ranked third in terms of total exports with a 7.5% share.

From 2012 to 2021, the average annual growth rate of volume to Indonesia amounted to -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-14.9% per year) and the Philippines (+18.0% per year).

In value terms, Indonesia ($X) emerged as the key foreign market for insulating fittings for electrical purposes exports from Singapore, comprising 46% of total exports. The second position in the ranking was held by Malaysia ($X), with a 13% share of total exports. It was followed by the Philippines, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Indonesia amounted to -2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-15.3% per year) and the Philippines (+17.4% per year).

Export Prices by Country

The average insulating fittings export price stood at $X per ton in 2021, shrinking by -16.2% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 18% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Hong Kong SAR ($X per ton) and Japan ($X per ton), while the average price for exports to Vietnam ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (-0.5%), while the prices for the other major destinations experienced a decline.

Insulating Fittings Imports

Imports into Singapore

In 2021, the amount of insulating fittings for electrical purposes imported into Singapore rose notably to X tons, picking up by 10% compared with 2020 figures. Over the period under review, total imports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +68.9% against 2016 indices. The growth pace was the most rapid in 2013 when imports increased by 41%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, insulating fittings imports expanded sharply to $X in 2021. In general, total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +27.1% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 55%. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in years to come.

Imports by Country

China (X tons), Japan (X tons) and South Korea (X tons) were the main suppliers of insulating fittings imports to Singapore, with a combined 63% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +15.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) were the largest insulating fittings suppliers to Singapore, together comprising 63% of total imports.

China, with a CAGR of +17.4%, saw the highest growth rate of the value of imports, among 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 insulating fittings import price stood at $X per ton in 2021, falling by -2.7% against the previous year. Over the last nine years, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2017 an increase of 11%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were the UK ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for South Korea ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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