Singapore: Market for Plastics Pipes And Pipe Fittings 2024

Market Size for Plastics Pipes And Pipe Fittings in Singapore

For the third consecutive year, the Singaporean market for plastics pipes and pipe fittings recorded growth in sales value, which increased by 23% to $X in 2022. Over the period under review, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.7% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Plastics Pipes And Pipe Fittings in Singapore

In value terms, plastics pipe and pipe fitting production rose sharply to $X in 2022 estimated in export price. Overall, production showed a modest increase. The growth pace was the most rapid in 2018 with an increase of 232% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Plastics Pipes And Pipe Fittings

Exports from Singapore

In 2022, overseas shipments of plastics pipes and pipe fittings increased by 2.5% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, showed a noticeable setback. The most prominent rate of growth was recorded in 2013 with an increase of 22%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, plastics pipe and pipe fitting exports contracted to $X in 2022. Overall, total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +43.6% against 2018 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 48% against the previous year. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

Malaysia (X tons), Indonesia (X tons) and Vietnam (X tons) were the main destinations of plastics pipe and pipe fitting exports from Singapore, together comprising 47% of total exports. Japan, the United States, China, Thailand, Australia, Maldives, Belgium, Taiwan (Chinese), New Zealand and Myanmar lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +16.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and the United States ($X) appeared to be the largest markets for plastics pipe and pipe fitting exported from Singapore worldwide, together comprising 58% of total exports. Malaysia, Belgium, Indonesia, Thailand, Vietnam, Taiwan (Chinese), Australia, Maldives, New Zealand and Myanmar lagged somewhat behind, together comprising a further 32%.

Among the main countries of destination, Taiwan (Chinese), with a CAGR of +25.5%, 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

In 2022, the average export price for plastics pipes and pipe fittings amounted to $X per ton, which is down by -16.4% against the previous year. In general, the export price, however, saw a strong expansion. The pace of growth appeared the most rapid in 2021 an increase of 34% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted rapidly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+18.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastics Pipes And Pipe Fittings

Imports into Singapore

In 2022, overseas purchases of plastics pipes and pipe fittings increased by 20% to X tons, rising for the second year in a row after five years of decline. The total import volume increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 37%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, plastics pipe and pipe fitting imports skyrocketed to $X in 2022. In general, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +86.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 44% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of plastics pipe and pipe fitting to Singapore, accounting for a 68% share of total imports. Moreover, plastics pipe and pipe fitting imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), sevenfold. The third position in this ranking was taken by the United States (X tons), with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia amounted to +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.9% per year) and the United States (+7.8% per year).

In value terms, Malaysia ($X), the United States ($X) and Germany ($X) appeared to be the largest plastics pipe and pipe fitting suppliers to Singapore, together comprising 58% of total imports. China, Austria, the UK and Taiwan (Chinese) lagged somewhat behind, together comprising a further 24%.

In terms of the main suppliers, Austria, with a CAGR of +24.7%, saw 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 import price for plastics pipes and pipe fittings stood at $X per ton in 2022, increasing by 8.4% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 23%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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