Singapore: Market for Rubber-to-Metal and Moulded Articles 2024

Market Size for Rubber-to-Metal and Moulded Articles in Singapore

In 2021, after five years of growth, there was significant decline in the Singaporean rubber-to-metal and moulded article market, when its value decreased by -43.9% to $X. Overall, consumption recorded a drastic downturn. Rubber-to-metal and moulded article consumption peaked at $X in 2020, and then dropped rapidly in the following year.

Production of Rubber-to-Metal and Moulded Articles in Singapore

In value terms, rubber-to-metal and moulded article production declined to $X in 2021 estimated in export price. Over the period under review, production, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 33%. Rubber-to-metal and moulded article production peaked at $X in 2020, and then fell in the following year.

Exports of Rubber-to-Metal and Moulded Articles

Exports from Singapore

In 2021, approx. X tons of rubber-to-metal and moulded articles were exported from Singapore; jumping by 20% compared with the previous year's figure. Over the period under review, total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +75.2% against 2012 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, rubber-to-metal and moulded article exports soared to $X in 2021. In general, total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +9.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +27.7% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), India (X tons) and Malaysia (X tons) were the main destinations of rubber-to-metal and moulded article exports from Singapore, together comprising 47% of total exports. Indonesia, the United States, South Korea, Taiwan (Chinese), Japan, Germany, Australia, Thailand, Belgium and Hungary lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +57.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for rubber-to-metal and moulded article exported from Singapore were China ($X), India ($X) and Malaysia ($X), with a combined 47% share of total exports. Indonesia, the United States, South Korea, Taiwan (Chinese), Japan, Germany, Australia, Thailand, Belgium and Hungary lagged somewhat behind, together comprising a further 41%.

Among the main countries of destination, Belgium, with a CAGR of +61.1%, 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 rubber-to-metal and moulded article export price stood at $X per ton in 2021, picking up by 7.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were India ($X per ton) and Japan ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) and Thailand ($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 Hungary (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Rubber-to-Metal and Moulded Articles

Imports into Singapore

In 2021, supplies from abroad of rubber-to-metal and moulded articles increased by 7.4% to X tons for the first time since 2016, thus ending a four-year declining trend. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 22%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, rubber-to-metal and moulded article imports stood at $X in 2021. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X tons), Malaysia (X tons) and China (X tons) were the main suppliers of rubber-to-metal and moulded article imports to Singapore, together accounting for 54% of total imports. These countries were followed by Germany, Japan, Taiwan (Chinese), Indonesia, Italy, France, India, the Czech Republic, the UK and the United Arab Emirates, which together accounted for a further 33%.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +39.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rubber-to-metal and moulded article suppliers to Singapore were the United States ($X), Malaysia ($X) and China ($X), together accounting for 55% of total imports. Germany, Japan, Taiwan (Chinese), Indonesia, Italy, France, India, the Czech Republic, the UK and the United Arab Emirates lagged somewhat behind, together comprising a further 33%.

Among the main suppliers, the Czech Republic, with a CAGR of +41.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average rubber-to-metal and moulded article import price stood at $X per ton in 2021, growing by 6% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 7.7% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+0.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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