Singapore: Market for Plastic Plates, Sheets, Film, Foil And Strip 2024

Market Size for Plastic Plates, Sheets, Film, Foil And Strip in Singapore

In 2021, the Singaporean market for plastic plates, sheets, film, foil and strip increased by 35% to $X, rising for the second consecutive year after two years of decline. Overall, consumption enjoyed a buoyant expansion. Consumption of peaked in 2021 and is likely to see steady growth in years to come.

Exports of Plastic Plates, Sheets, Film, Foil And Strip

Exports from Singapore

In 2021, approx. X tons of plastic plates, sheets, film, foil and strip were exported from Singapore; falling by -4.1% compared with the previous year. Overall, exports showed a deep setback. The pace of growth appeared the most rapid in 2014 with an increase of 49% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of plastic plates, sheets, film, foil and strip soared to $X in 2021. In general, exports recorded a abrupt slump. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons), China (X tons) and Indonesia (X tons) were the main destinations of exports of plastic plates, sheets, film, foil and strip from Singapore, with a combined 53% share of total exports. These countries were followed by Thailand, Australia, the United States, Vietnam, Taiwan (Chinese), Russia, India, the Netherlands, South Korea and the Philippines, which together accounted for a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +17.1%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) remains the key foreign market for plastic plates, sheets, film, foil and strip exports from Singapore, comprising 28% of total exports. The second position in the ranking was held by Indonesia ($X), with an 11% share of total exports. It was followed by China, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia stood at +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-4.9% per year) and China (-13.8% per year).

Export Prices by Country

In 2021, the average export price for plastic plates, sheets, film, foil and strip amounted to $X per ton, picking up by 20% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 41%. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to the Netherlands ($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 the Philippines (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic Plates, Sheets, Film, Foil And Strip

Imports into Singapore

In 2021, purchases abroad of plastic plates, sheets, film, foil and strip increased by 12% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 47%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of plastic plates, sheets, film, foil and strip soared to $X in 2021. The total import value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of plastic plate, sheet, film, foil and strip to Singapore, accounting for a 41% share of total imports. Moreover, imports of plastic plates, sheets, film, foil and strip from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with an 8.3% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia amounted to +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.3% per year) and the United States (-2.4% per year).

In value terms, the largest plastic plate, sheet, film, foil and strip suppliers to Singapore were the United States ($X), China ($X) and Malaysia ($X), together accounting for 63% of total imports. Japan, South Korea, Germany, Thailand, Taiwan (Chinese), Indonesia, Italy, Vietnam and Saudi Arabia lagged somewhat behind, together accounting for a further 30%.

Saudi Arabia, with a CAGR of +51.4%, recorded the highest growth rate of the value of imports, in terms of 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 import price for plastic plates, sheets, film, foil and strip amounted to $X per ton, with an increase of 20% against the previous year. In general, the import price saw mild growth. The growth pace was the most rapid in 2018 when the average import price increased by 38% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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