Singapore: Metal Deburring Machine Market 2024

Metal Deburring Machine Market Size in Singapore

The Singaporean metal deburring machine market shrank remarkably to $X in 2021, waning by -35.1% 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). Over the period under review, consumption saw a mild decline. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Metal Deburring Machine Exports

Exports from Singapore

In 2021, the amount of machines for deburring or polishing metal exported from Singapore declined markedly to X units, with a decrease of -83.1% compared with 2020 figures. Overall, exports continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2019 when exports increased by 474% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, metal deburring machine exports dropped remarkably to $X in 2021. Over the period under review, exports faced a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of 209% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X units) was the main destination for metal deburring machine exports from Singapore, accounting for a 73% share of total exports. Moreover, metal deburring machine exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X units), ninefold. The third position in this ranking was taken by the Philippines (X units), with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia stood at +17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-9.1% per year) and the Philippines (+38.3% per year).

In value terms, Indonesia ($X) emerged as the key foreign market for machines for deburring or polishing metal exports from Singapore, comprising 86% of total exports. The second position in the ranking was taken by Malaysia ($X), with an 11% share of total exports. It was followed by the Philippines, with a 0.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Indonesia totaled +18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-23.3% per year) and the Philippines (-17.9% per year).

Export Prices by Country

The average metal deburring machine export price stood at $X per unit in 2021, picking up by 16% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2016 an increase of 146% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per unit), while the average price for exports to Seychelles ($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 Nigeria (+297.1%), while the prices for the other major destinations experienced mixed trend patterns.

Metal Deburring Machine Imports

Imports into Singapore

In 2021, the amount of machines for deburring or polishing metal imported into Singapore contracted dramatically to X units, waning by -58.5% compared with the previous year. Overall, imports, however, posted a mild increase. The most prominent rate of growth was recorded in 2017 with an increase of 249%. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, metal deburring machine imports shrank significantly to $X in 2021. Over the period under review, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2019 when imports increased by 81%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest metal deburring machine supplier to Singapore, with a 56% share of total imports. Moreover, metal deburring machine imports from China exceeded the figures recorded by the second-largest supplier, Canada (X units), fivefold. The third position in this ranking was taken by the United States (X units), with a 2.2% share.

From 2012 to 2021, 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: Canada (+102.0% per year) and the United States (-3.9% per year).

In value terms, China ($X), the United States ($X) and Canada ($X) were the largest metal deburring machine suppliers to Singapore, with a combined 78% share of total imports.

Canada, with a CAGR of +69.7%, 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 metal deburring machine import price stood at $X per unit in 2021, increasing by 52% against the previous year. Overall, the import price, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2018 an increase of 78%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+9.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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