Singapore: Laser Market 2024

Laser Market Size in Singapore

The Singaporean laser market declined dramatically to $X in 2021, which is down by -59% against the previous year. Overall, consumption saw a deep reduction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Laser Production in Singapore

In value terms, laser production fell dramatically to $X in 2021 estimated in export price. In general, the total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +49.3% against 2018 indices. The pace of growth was the most pronounced in 2015 with an increase of 64% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then dropped sharply in the following year.

Laser Exports

Exports from Singapore

In 2021, shipments abroad of lasers, other than laser diodes increased by 28% to X units, rising for the fifth consecutive year after two years of decline. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 126%. The exports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, laser exports soared to $X in 2021. In general, exports saw a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 49% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

The United States (X units) was the main destination for laser exports from Singapore, with a 46% share of total exports. Moreover, laser exports to the United States exceeded the volume sent to the second major destination, China (X units), threefold. The third position in this ranking was taken by Germany (X units), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +34.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+22.6% per year) and Germany (+29.2% per year).

In value terms, the United States ($X), China ($X) and Germany ($X) constituted the largest markets for laser exported from Singapore worldwide, together accounting for 62% of total exports. These countries were followed by Taiwan (Chinese), Japan, Thailand, Malaysia and the UK, which together accounted for a further 26%.

In terms of the main countries of destination, Japan, with a CAGR of +27.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average laser export price amounted to $X per unit, declining by -6.8% against the previous year. Over the period under review, the export price recorded a abrupt downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by 45% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Taiwan (Chinese) ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Laser Imports

Imports into Singapore

In 2021, overseas purchases of lasers, other than laser diodes decreased by -3.1% to X units, falling for the third consecutive year after three years of growth. Overall, imports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2014 with an increase of 142% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, laser imports totaled $X in 2021. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 77% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

The United States (X units), Germany (X units) and China (X units) were the main suppliers of laser imports to Singapore, with a combined 83% share of total imports. These countries were followed by South Korea, the UK, the Netherlands, France and Japan, which together accounted for a further 13%.

From 2012 to 2021, the biggest increases were in the Netherlands (with a CAGR of +30.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest laser suppliers to Singapore were the United States ($X), Germany ($X) and South Korea ($X), with a combined 83% share of total imports. These countries were followed by China, the UK, the Netherlands, France and Japan, which together accounted for a further 9.5%.

The Netherlands, with a CAGR of +37.1%, recorded 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 more modest paces of growth.

Import Prices by Country

The average laser import price stood at $X per unit in 2021, surging by 6.6% against the previous year. Overall, import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +9.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, laser import price increased by +78.6% against 2018 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by 71% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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