Singapore: Market for Iron Or Steel Towers And Lattice Masts 2025

Market Size for Iron Or Steel Towers And Lattice Masts in Singapore

The Singaporean iron or steel towers market reached $X in 2021, remaining relatively unchanged against the previous year. In general, consumption posted a moderate increase. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Iron Or Steel Towers And Lattice Masts in Singapore

In value terms, iron or steel towers production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 198%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Exports of Iron Or Steel Towers And Lattice Masts

Exports from Singapore

Iron or steel towers exports from Singapore fell to X tons in 2021, which is down by -6% against the previous year's figure. In general, exports faced a abrupt decrease. The growth pace was the most rapid in 2019 with an increase of 1,009% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, iron or steel towers exports expanded markedly to $X in 2021. Over the period under review, exports recorded a deep contraction. The pace of growth appeared the most rapid in 2019 when exports increased by 1,022% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Australia (X tons) was the main destination for iron or steel towers exports from Singapore, accounting for a 65% share of total exports. Moreover, iron or steel towers exports to Australia exceeded the volume sent to the second major destination, Indonesia (X tons), fivefold. British Indian Ocean Territory (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume to Australia stood at +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-18.8% per year) and British Indian Ocean Territory (-7.5% per year).

In value terms, Australia ($X) emerged as the key foreign market for iron or steel towers and lattice masts exports from Singapore, comprising 69% of total exports. The second position in the ranking was held by Brunei Darussalam ($X), with an 11% share of total exports. It was followed by Indonesia, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to Australia totaled +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brunei Darussalam (+49.7% per year) and Indonesia (-10.4% per year).

Export Prices by Country

The average iron or steel towers export price stood at $X per ton in 2021, growing by 17% against the previous year. Overall, the export price, however, recorded a noticeable downturn. The pace of growth was the most pronounced in 2014 an increase of 120% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Brunei Darussalam ($X per ton), while the average price for exports to British Indian Ocean Territory ($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 Indonesia (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron Or Steel Towers And Lattice Masts

Imports into Singapore

In 2021, iron or steel towers imports into Singapore skyrocketed to X tons, surging by 58% compared with the previous year's figure. Over the period under review, imports, however, saw a deep setback. The most prominent rate of growth was recorded in 2016 when imports increased by 545%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, iron or steel towers imports soared to $X in 2021. Overall, imports, however, faced a abrupt contraction. The growth pace was the most rapid in 2019 when imports increased by 575% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest iron or steel towers supplier to Singapore, accounting for a 59% share of total imports. Moreover, iron or steel towers imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), twofold. South Korea (X tons) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+9.1% per year) and South Korea (-18.2% per year).

In value terms, Indonesia ($X), China ($X) and South Korea ($X) constituted the largest iron or steel towers suppliers to Singapore, with a combined 78% share of total imports.

Indonesia, with a CAGR of +2.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average iron or steel towers import price stood at $X per ton in 2021, jumping by 43% against the previous year. Over the period under review, the import price, however, saw a deep setback. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, 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 Indonesia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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