Singapore: Parachute Market 2025

Parachute Market Size in Singapore

The Singaporean parachute market expanded modestly to $X in 2021, growing by 1.8% against the previous year. Over the period under review, consumption, however, continues to indicate a abrupt decrease. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Parachute Production in Singapore

In value terms, parachute production reduced remarkably to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. Over the period under review, production reached the maximum level at $X in 2020, and then reduced sharply in the following year.

Parachute Exports

Exports from Singapore

In 2021, overseas shipments of parachutes and rotochutes decreased by -64.5% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, exports recorded a abrupt contraction. The growth pace was the most rapid in 2019 when exports increased by 78%. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, parachute exports declined dramatically to $X in 2021. Over the period under review, exports saw a abrupt curtailment. The growth pace was the most rapid in 2019 with an increase of 66% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Myanmar (X tons), Indonesia (X kg) and Malaysia (X kg) were the main destinations of parachute exports from Singapore, with a combined 98% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +22.3%), while the other leaders experienced a decline.

In value terms, the largest markets for parachute exported from Singapore were Indonesia ($X), Myanmar ($X) and Malaysia ($X), with a combined 98% share of total exports.

Malaysia, with a CAGR of +34.1%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average parachute export price amounted to $X per ton, increasing by 31% against the previous year. Over the period under review, export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, parachute export price increased by +32.1% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2021, the countries with the highest prices were Nepal ($X per ton) and Indonesia ($X per ton), while the average price for exports to Myanmar ($X per ton) and Malaysia ($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 Iran (+17.0%), while the prices for the other major destinations experienced more modest paces of growth.

Parachute Imports

Imports into Singapore

In 2021, the amount of parachutes and rotochutes imported into Singapore rose slightly to X tons, picking up by 3.9% compared with the previous year's figure. Overall, imports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 454% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, parachute imports dropped to $X in 2021. Over the period under review, imports, however, saw a deep setback. The pace of growth was the most pronounced in 2019 with an increase of 458% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), Germany (X tons) and Taiwan (Chinese) (X kg) were the main suppliers of parachute imports to Singapore, with a combined 73% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +8.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and Taiwan (Chinese) ($X) constituted the largest parachute suppliers to Singapore, together accounting for 73% of total imports.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +11.9%, 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

In 2021, the average parachute import price amounted to $X per ton, shrinking by -9.9% against the previous year. Over the period under review, import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, parachute import price increased by +37.7% against 2015 indices. The pace of growth was the most pronounced in 2017 an increase of 16%. The import price peaked at $X per ton in 2020, and then reduced in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from India ($X per ton) and the United States ($X per ton), while the price for Poland ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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