Singapore: Market for Reel Fed Letterpress Printing Machinery 2024

Market Size for Reel Fed Letterpress Printing Machinery in Singapore

The Singaporean market for reel fed letterpress printing machinery fell remarkably to $X in 2022, waning by -66.3% against the previous year. Overall, consumption, however, showed a strong expansion. Reel fed letterpress printing machinery consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Reel Fed Letterpress Printing Machinery in Singapore

In value terms, reel fed letterpress printing machinery production amounted to less than $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with a decrease of 99.9% against the previous year. Reel fed letterpress printing machinery production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Reel Fed Letterpress Printing Machinery

Exports from Singapore

In 2022, the amount of reel fed letterpress printing machinery exported from Singapore soared to X units, growing by 60% on the year before. In general, exports, however, faced a deep contraction. The growth pace was the most rapid in 2016 with an increase of 1,500%. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, reel fed letterpress printing machinery exports skyrocketed to $X in 2022. Overall, exports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2021 when exports increased by 18,044%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X units) was the main destination for reel fed letterpress printing machinery exports from Singapore, accounting for a 81% share of total exports. Moreover, reel fed letterpress printing machinery exports to Malaysia exceeded the volume sent to the second major destination, China (X units), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia amounted to +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-13.0% per year) and Papua New Guinea (-66.7% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for reel fed letterpress printing machinery exports from Singapore, comprising 69% of total exports. The second position in the ranking was held by China ($X), with a 31% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia stood at -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-23.0% per year) and Papua New Guinea (-99.4% per year).

Export Prices by Country

In 2022, the average export price for reel fed letterpress printing machinery amounted to $X per unit, with an increase of 401% against the previous year. In general, the export price, however, saw a abrupt descent. The pace of growth was the most pronounced in 2021 when the average export price increased by 1,714%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Papua New Guinea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (-7.4%), while the prices for the other major destinations experienced a decline.

Imports of Reel Fed Letterpress Printing Machinery

Imports into Singapore

Reel fed letterpress printing machinery imports into Singapore fell markedly to X units in 2022, which is down by -72.2% on 2021. Over the period under review, imports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2014 when imports increased by 349%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, reel fed letterpress printing machinery imports shrank dramatically to $X in 2022. In general, imports faced a abrupt contraction. The pace of growth appeared the most rapid in 2018 with an increase of 107% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main supplier of reel fed letterpress printing machinery to Singapore, with a 96% share of total imports. It was followed by the United States (X units), with a 2.5% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +7.4%.

In value terms, China ($X) constituted the largest supplier of reel fed letterpress printing machinery to Singapore, comprising 97% of total imports. The second position in the ranking was held by the United States ($X), with a 2.5% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -10.0%.

Import Prices by Country

In 2022, the average import price for reel fed letterpress printing machinery amounted to $X per unit, declining by -8.5% against the previous year. Overall, the import price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 an increase of 28% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for the United States stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-16.1%).

Source: IndexBox Platform

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