Singapore: Metal Wool Market 2025

Metal Wool Market Size in Singapore

In 2022, the Singaporean metal wool market decreased by -35.7% to $X, falling for the fourth year in a row after four years of growth. In general, consumption, however, showed a remarkable increase. Metal wool consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Metal Wool Exports

Exports from Singapore

In 2022, approx. X tons of iron or steel wool were exported from Singapore; shrinking by -38.9% against the previous year's figure. In general, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2018 when exports increased by 336% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, metal wool exports contracted to $X in 2022. Overall, exports saw a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of 310% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Thailand (X tons), Indonesia (X tons) and the United States (X tons) were the main destinations of metal wool exports from Singapore, with a combined 73% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +72.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), the United States ($X) and Indonesia ($X) appeared to be the largest markets for metal wool exported from Singapore worldwide, together accounting for 77% of total exports.

The United States, with a CAGR of +273.3%, recorded the highest growth rate of 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

The average metal wool export price stood at $X per ton in 2022, growing by 43% against the previous year. In general, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Maldives ($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 the United States (+117.0%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Wool Imports

Imports into Singapore

In 2022, overseas purchases of iron or steel wool decreased by -48.1% to X tons, falling for the fourth consecutive year after four years of growth. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 174%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, metal wool imports fell sharply to $X in 2022. Overall, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 153% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and the United States (X tons) were the main suppliers of metal wool imports to Singapore, with a combined 85% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +34.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of iron or steel wool to Singapore, comprising 50% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 21% share of total imports. It was followed by the United States, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+37.1% per year) and the United States (-1.1% per year).

Import Prices by Country

In 2022, the average metal wool import price amounted to $X per ton, rising by 35% against the previous year. In general, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal wool import price increased by +75.3% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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