Singapore: Matches Market 2024

Matches Market Size in Singapore

In 2021, the Singaporean matches market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption posted a moderate expansion. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Matches Production in Singapore

In value terms, matches production skyrocketed to $X in 2021 estimated in export price. Overall, production continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 149% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Matches Exports

Exports from Singapore

After two years of growth, overseas shipments of matches decreased by -93.3% to X tons in 2021. Overall, exports saw a abrupt downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 1,221%. As a result, the exports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, matches exports contracted significantly to $X in 2021. In general, exports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2020 with an increase of 696%. As a result, the exports reached the peak of $X, and then contracted sharply in the following year.

Exports by Country

Malaysia (X tons), Maldives (X tons) and the Netherlands (X kg) were the main destinations of matches exports from Singapore, with a combined 82% share of total exports. The Philippines, Hong Kong SAR, Australia, Taiwan (Chinese) and Indonesia lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +224.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for matches exported from Singapore were Malaysia ($X), Maldives ($X) and the Netherlands ($X), together comprising 82% of total exports. The Philippines, Hong Kong SAR, Australia, Taiwan (Chinese) and Indonesia lagged somewhat behind, together accounting for a further 18%.

Among the main countries of destination, Australia, with a CAGR of +208.9%, recorded the highest rates of growth with regard to 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

The average matches export price stood at $X per ton in 2021, with an increase of 37% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 63%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Indonesia ($X per ton) and the Philippines ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) and Maldives ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+37.4%), while the prices for the other major destinations experienced more modest paces of growth.

Matches Imports

Imports into Singapore

In 2021, matches imports into Singapore reduced modestly to X tons, with a decrease of -4.6% against the previous year's figure. Over the period under review, imports recorded a deep reduction. The pace of growth was the most pronounced in 2020 when imports increased by 152% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, matches imports declined to $X in 2021. In general, imports recorded a perceptible decrease. The growth pace was the most rapid in 2020 with an increase of 129% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest supplier of matches to Singapore, accounting for a 43% share of total imports. Moreover, matches imports from Indonesia exceeded the figures recorded by the second-largest supplier, Sweden (X tons), threefold. France (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from Indonesia stood at +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-7.2% per year) and France (-6.2% per year).

In value terms, Indonesia ($X) constituted the largest supplier of matches to Singapore, comprising 43% of total imports. The second position in the ranking was held by Sweden ($X), with a 15% share of total imports. It was followed by France, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Indonesia amounted to +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-5.4% per year) and France (-4.4% per year).

Import Prices by Country

The average matches import price stood at $X per ton in 2021, reducing by -7.3% against the previous year. Over the last nine years, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2014 an increase of 30%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Indonesia ($X per ton) and Malaysia ($X per ton), while the price for the UK ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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