Singapore: Metal Flexible Tubing Market 2024

Metal Flexible Tubing Market Size in Singapore

In 2022, the Singaporean metal flexible tubing market increased by X% to $X, rising for the second consecutive year after four years of decline. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Metal Flexible Tubing Exports

Exports from Singapore

In 2022, shipments abroad of iron or steel flexible tubing was finally on the rise to reach X tons after two years of decline. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal flexible tubing exports soared to $X in 2022. Over the period under review, exports saw buoyant growth. The pace of growth was the most pronounced in 2016 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons), Brazil (X tons) and Malaysia (X tons) were the main destinations of metal flexible tubing exports from Singapore, together comprising X% of total exports. Australia, Angola, Taiwan (Chinese), Thailand, Cambodia, China, Brunei Darussalam, Japan and the Philippines lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Indonesia ($X) and Australia ($X) constituted the largest markets for metal flexible tubing exported from Singapore worldwide, together accounting for X% of total exports. Malaysia, Brazil, Angola, Brunei Darussalam, Japan, China, Thailand, the Philippines and Cambodia lagged somewhat behind, together accounting for a further X%.

Angola, with a CAGR of X%, 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 metal flexible tubing export price amounted to $X per ton, surging by X% against the previous year. Overall, the export price continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Cambodia ($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 Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Flexible Tubing Imports

Imports into Singapore

In 2022, the amount of iron or steel flexible tubing imported into Singapore skyrocketed to X tons, jumping by X% compared with the year before. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by X%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, metal flexible tubing imports surged to $X in 2022. Over the period under review, imports continue to indicate measured growth. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest metal flexible tubing supplier to Singapore, accounting for a X% share of total imports. Moreover, metal flexible tubing imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. Malaysia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Malaysia (X% per year).

In value terms, the United States ($X), China ($X) and Malaysia ($X) appeared to be the largest metal flexible tubing suppliers to Singapore, together comprising X% of total imports.

In terms of the main suppliers, Malaysia, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the average metal flexible tubing import price amounted to $X per ton, picking up by X% against the previous year. Overall, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal flexible tubing import price decreased by X% against 2019 indices. The growth pace was the most rapid in 2016 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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