Singapore: Footwear Treatments Market 2025

Footwear Treatments Market Size in Singapore

The Singaporean footwear treatments market stood at $X in 2022, growing by 15% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Footwear Treatments Production in Singapore

In value terms, footwear treatments production rose remarkably to $X in 2022 estimated in export price. In general, production, however, faced a abrupt decline. The pace of growth appeared the most rapid in 2020 when the production volume increased by 33% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Footwear Treatments Exports

Exports from Singapore

Footwear treatments exports from Singapore declined notably to X tons in 2022, waning by -24% compared with the year before. Overall, exports continue to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 27% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, footwear treatments exports reduced to $X in 2022. In general, exports recorded a deep setback. The growth pace was the most rapid in 2021 when exports increased by 27%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main destinations of footwear treatments exports from Singapore, together accounting for 57% of total exports. Indonesia, Vietnam, South Korea, Hong Kong SAR, the United States, Japan, New Zealand, Australia, Thailand and the Philippines lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +433.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and Vietnam ($X) appeared to be the largest markets for footwear treatments exported from Singapore worldwide, with a combined 59% share of total exports. Taiwan (Chinese), China, Japan, Hong Kong SAR, South Korea, Australia, New Zealand, Thailand, the United States and the Philippines lagged somewhat behind, together accounting for a further 33%.

Among the main countries of destination, the United States, with a CAGR of +141.0%, recorded 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

In 2022, the average footwear treatments export price amounted to $X per ton, rising by 15% against the previous year. Over the period under review, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, footwear treatments export price increased by +41.6% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of 33%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

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 the Philippines ($X per ton), while the average price for exports to the United States ($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 the Philippines (+15.9%), while the prices for the other major destinations experienced more modest paces of growth.

Footwear Treatments Imports

Imports into Singapore

In 2022, the amount of polishes and creams for footwear or leather imported into Singapore dropped modestly to X tons, approximately equating 2021 figures. Over the period under review, imports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2015 when imports increased by 71% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, footwear treatments imports rose notably to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 76% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United States (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of footwear treatments imports to Singapore, with a combined 72% share of total imports. France, the UK, Taiwan (Chinese), Spain, India, Italy, Germany, Japan, Indonesia and the Netherlands lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +94.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest footwear treatments suppliers to Singapore were the United States ($X), China ($X) and Malaysia ($X), with a combined 67% share of total imports. France, the UK, Spain, Italy, Japan, Germany, India, Taiwan (Chinese), Indonesia and the Netherlands lagged somewhat behind, together accounting for a further 27%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +95.8%, 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

In 2022, the average footwear treatments import price amounted to $X per ton, picking up by 6.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.5%. The pace of growth appeared the most rapid in 2019 an increase of 18%. The import price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+37.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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