Singapore: Plastic Household Ware Market 2024

Plastic Household Ware Market Size in Singapore

The Singaporean plastic household ware market skyrocketed to $X in 2021, picking up by 38% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +11.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Plastic household ware consumption peaked in 2021 and is likely to continue growth in the near future.

Plastic Household Ware Exports

Exports from Singapore

In 2021, shipments abroad of plastics household articles and toilet articles was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when exports increased by 98% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, plastic household ware exports surged to $X in 2021. Over the period under review, exports posted resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 166% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X tons), Brunei Darussalam (X tons) and Malaysia (X tons) were the main destinations of plastic household ware exports from Singapore, with a combined 39% share of total exports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +48.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic household ware exported from Singapore were South Korea ($X), Malaysia ($X) and Brunei Darussalam ($X), together comprising 40% of total exports. China, the Philippines, Indonesia, the United States, Vietnam, Hong Kong SAR, Micronesia, Thailand, Japan and the United Arab Emirates lagged somewhat behind, together accounting for a further 42%.

In terms of the main countries of destination, the United States, with a CAGR of +56.5%, 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 plastic household ware export price stood at $X per ton in 2021, waning by -6.1% against the previous year. Overall, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, plastic household ware export price increased by +4.4% against 2015 indices. The growth pace was the most rapid in 2014 an increase of 34% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then contracted in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Micronesia ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Household Ware Imports

Imports into Singapore

In 2021, supplies from abroad of plastics household articles and toilet articles increased by 27% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 39% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, plastic household ware imports skyrocketed to $X in 2021. Overall, imports showed prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 67% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the near future.

Imports by Country

China (X tons), Malaysia (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of plastic household ware imports to Singapore, together accounting for 78% of total imports. Japan, Indonesia, Thailand, the United States, Hong Kong SAR and Vietnam lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +22.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic household ware suppliers to Singapore were China ($X), Malaysia ($X) and Taiwan (Chinese) ($X), together accounting for 79% of total imports. These countries were followed by Japan, Indonesia, Thailand, the United States, Hong Kong SAR and Vietnam, which together accounted for a further 17%.

In terms of the main suppliers, Indonesia, with a CAGR of +27.9%, 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

The average plastic household ware import price stood at $X per ton in 2021, with an increase of 16% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.6%. The pace of growth was the most pronounced in 2014 an increase of 21%. The import price peaked in 2021 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Malaysia ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for Thailand ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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