Singapore: Market for Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards 2024

Market Size for Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards in Singapore

In 2021, the Singaporean non-woven glass fibre articles market decreased by -3.8% to $X, falling for the fourth consecutive year after four years of growth. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards in Singapore

In value terms, non-woven glass fibre articles production declined remarkably to $X in 2021 estimated in export price. In general, production, however, continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 216%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Exports of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards

Exports from Singapore

Non-woven glass fibre articles exports from Singapore reduced sharply to X tons in 2021, declining by -31.4% against the previous year. Over the period under review, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of 1,146%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, non-woven glass fibre articles exports fell to $X in 2021. In general, exports, however, continue to indicate a notable increase. The growth pace was the most rapid in 2015 when exports increased by 728%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X tons), China (X tons) and Malaysia (X tons) were the main destinations of non-woven glass fibre articles exports from Singapore, with a combined 69% share of total exports. Hong Kong SAR, Japan, Canada, Bangladesh, Myanmar, the United States, Papua New Guinea, Australia and South Korea lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +102.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-woven glass fibre articles exported from Singapore were Indonesia ($X), China ($X) and Malaysia ($X), with a combined 75% share of total exports. These countries were followed by Hong Kong SAR, Japan, the United States, Papua New Guinea, Australia, Canada, Bangladesh, Myanmar and South Korea, which together accounted for a further 18%.

In terms of the main countries of destination, Myanmar, with a CAGR of +101.3%, saw 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

The average non-woven glass fibre articles export price stood at $X per ton in 2021, rising by 29% against the previous year. Over the period under review, the export price saw prominent growth. The growth pace was the most rapid in 2019 an increase of 114% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+21.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards

Imports into Singapore

In 2021, overseas purchases of non-woven glass fibre webs, felts, mattresses and boards decreased by -13.6% to X tons, falling for the fourth year in a row after two years of growth. Overall, imports continue to indicate a noticeable curtailment. The growth pace was the most rapid in 2017 when imports increased by 64% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, non-woven glass fibre articles imports shrank to $X in 2021. Over the period under review, imports recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 75%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X tons), China (X tons) and Kuwait (X tons) were the main suppliers of non-woven glass fibre articles imports to Singapore, together comprising 59% of total imports.

From 2012 to 2021, the biggest increases were recorded for Kuwait (with a CAGR of +72.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Kuwait ($X) were the largest non-woven glass fibre articles suppliers to Singapore, together comprising 59% of total imports.

Kuwait, with a CAGR of +71.3%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average non-woven glass fibre articles import price amounted to $X per ton, rising by 8.3% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Sweden ($X per ton) and Mexico ($X per ton), while the price for China ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (-0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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