Singapore: Non-Rolled Bitumen Products Market 2024

Non-Rolled Bitumen Products Market Size in Singapore

The Singaporean non-rolled bitumen products market totaled $X in 2022, rising by 1.8% against the previous year. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Non-Rolled Bitumen Products Production in Singapore

In value terms, non-rolled bitumen products production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 58%. Non-rolled bitumen products production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Non-Rolled Bitumen Products Exports

Exports from Singapore

In 2022, non-rolled bitumen products exports from Singapore reduced notably to X tons, which is down by -51.8% against the year before. In general, exports showed a dramatic downturn. The most prominent rate of growth was recorded in 2015 with an increase of 44%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-rolled bitumen products exports reduced notably to $X in 2022. Over the period under review, exports showed a dramatic downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 0.2%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons), Maldives (X tons) and Thailand (X kg) were the main destinations of non-rolled bitumen products exports from Singapore, with a combined 93% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Maldives (with a CAGR of +42.4%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) remains the key foreign market for non-rolled bitumen products exports from Singapore, comprising 54% of total exports. The second position in the ranking was taken by Thailand ($X), with a 21% share of total exports. It was followed by Maldives, with an 18% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia amounted to -10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+7.7% per year) and Maldives (+34.7% per year).

Export Prices by Country

In 2022, the average non-rolled bitumen products export price amounted to $X per ton, dropping by -44.7% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 211%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Maldives ($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 Myanmar (+28.1%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Rolled Bitumen Products Imports

Imports into Singapore

In 2022, imports of non-rolled bitumen products into Singapore rose remarkably to X tons, increasing by 11% compared with the year before. Over the period under review, imports, however, faced a abrupt decline. The growth pace was the most rapid in 2013 with an increase of 67%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, non-rolled bitumen products imports skyrocketed to $X in 2022. Overall, imports, however, recorded a deep downturn. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), the United States (X tons) and Indonesia (X tons) were the main suppliers of non-rolled bitumen products imports to Singapore, together accounting for 85% of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +29.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Malaysia ($X) appeared to be the largest non-rolled bitumen products suppliers to Singapore, with a combined 92% share of total imports. Indonesia, Lithuania and Germany lagged somewhat behind, together accounting for a further 6.8%.

In terms of the main suppliers, Indonesia, with a CAGR of +53.8%, 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

The average non-rolled bitumen products import price stood at $X per ton in 2022, picking up by 20% against the previous year. Overall, the import price, however, continues to indicate a pronounced descent. The growth pace was the most rapid in 2017 an increase of 73%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+18.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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