Singapore: Razor Market 2025

Razor Market Size in Singapore

In 2021, the Singaporean razor market decreased by -4.2% to $X, falling for the third year in a row after five years of growth. Overall, consumption, however, showed a tangible expansion. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Razor Production in Singapore

In value terms, razor production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2018 when the production volume increased by 77% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Razor Exports

Exports from Singapore

For the fourth year in a row, Singapore recorded growth in overseas shipments of razors, which increased by 31% to X tons in 2021. In general, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 38%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, razor exports expanded rapidly to $X in 2021. Overall, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of 35%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for razor exports from Singapore, accounting for a 48% share of total exports. Moreover, razor exports to the United States exceeded the volume sent to the second major destination, Malaysia (X tons), fivefold. Sri Lanka (X tons) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +61.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+8.5% per year) and Sri Lanka (-4.3% per year).

In value terms, the United States ($X) remains the key foreign market for razors exports from Singapore, comprising 47% of total exports. The second position in the ranking was held by Malaysia ($X), with a 10% share of total exports. It was followed by Sri Lanka, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +61.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+8.1% per year) and Sri Lanka (-4.7% per year).

Export Prices by Country

In 2021, the average razor export price amounted to $X per ton, waning by -14.6% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 14%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2021, the highest price was recorded for prices to Indonesia ($X per ton) and Thailand ($X per ton), while the average price for exports to Israel ($X per ton) and Nigeria ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (-0.2%), while the prices for the other major destinations experienced a decline.

Razor Imports

Imports into Singapore

Razor imports into Singapore surged to X tons in 2021, increasing by 17% compared with 2020 figures. In general, imports showed a strong expansion. The pace of growth appeared the most rapid in 2016 with an increase of 104%. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, razor imports rose markedly to $X in 2021. Overall, imports posted a resilient expansion. The pace of growth was the most pronounced in 2016 when imports increased by 121%. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in years to come.

Imports by Country

Poland (X tons), Vietnam (X tons) and Greece (X tons) were the main suppliers of razor imports to Singapore, with a combined 74% share of total imports. These countries were followed by China, Russia, the United States, Mexico, India, the Czech Republic, the United Arab Emirates, Germany, Pakistan and Malaysia, which together accounted for a further 24%.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +192.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Vietnam ($X) and Greece ($X) constituted the largest razor suppliers to Singapore, with a combined 73% share of total imports. China, Russia, the United States, Mexico, India, the Czech Republic, the United Arab Emirates, Germany, Pakistan and Malaysia lagged somewhat behind, together accounting for a further 23%.

The Czech Republic, with a CAGR of +194.0%, recorded the highest growth rate of the value of imports, among 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 razor import price amounted to $X per ton, declining by -3.8% against the previous year. Over the period under review, the import price recorded a slight downturn. The growth pace was the most rapid in 2014 an increase of 12%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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