Singapore: Market for Rigid Tubes, Pipes And Hoses Of Polymers Of Ethylene 2024

Market Size for Rigid Tubes, Pipes And Hoses Of Polymers Of Ethylene in Singapore

In 2021, the Singaporean ethylene polymer rigid pipes market decreased by -26.4% to $X, falling for the second year in a row after two years of growth. Overall, consumption showed a noticeable curtailment. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Exports of Rigid Tubes, Pipes And Hoses Of Polymers Of Ethylene

Exports from Singapore

In 2021, ethylene polymer rigid pipes exports from Singapore skyrocketed to X tons, picking up by 38% on the previous year's figure. Overall, exports recorded a temperate increase. The most prominent rate of growth was recorded in 2013 when exports increased by 636% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, ethylene polymer rigid pipes exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed resilient growth. The pace of growth was the most pronounced in 2013 with an increase of 684% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Indonesia (X tons), Malaysia (X tons) and Thailand (X tons) were the main destinations of ethylene polymer rigid pipes exports from Singapore, together comprising 90% of total exports. These countries were followed by India and the Philippines, which together accounted for a further 2.9%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +48.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ethylene polymer rigid pipes exported from Singapore were Malaysia ($X), Indonesia ($X) and India ($X), with a combined 81% share of total exports.

Among the main countries of destination, India, with a CAGR of +55.1%, 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 ethylene polymer rigid pipes export price stood at $X per ton in 2021, shrinking by -3% against the previous year. In general, the export price, however, recorded a remarkable increase. The growth pace was the most rapid in 2015 when the average export price increased by 48%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Indonesia ($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 Malaysia (+12.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Rigid Tubes, Pipes And Hoses Of Polymers Of Ethylene

Imports into Singapore

In 2021, overseas purchases of rigid tubes, pipes and hoses of polymers of ethylene decreased by -35.9% to X tons, falling for the second consecutive year after two years of growth. Overall, imports showed a pronounced setback. The growth pace was the most rapid in 2015 with an increase of 57%. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, ethylene polymer rigid pipes imports dropped to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 44% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest ethylene polymer rigid pipes supplier to Singapore, accounting for a 47% share of total imports. Moreover, ethylene polymer rigid pipes imports from Malaysia exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. The third position in this ranking was held by China (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia totaled -9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+35.4% per year) and China (+8.2% per year).

In value terms, the largest ethylene polymer rigid pipes suppliers to Singapore were Malaysia ($X), Germany ($X) and China ($X), together comprising 55% of total imports. These countries were followed by the UK, Taiwan (Chinese), Australia, Austria, Italy, India, South Korea and the Netherlands, which together accounted for a further 32%.

Among the main suppliers, India, with a CAGR of +60.7%, 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

In 2021, the average ethylene polymer rigid pipes import price amounted to $X per ton, increasing by 34% against the previous year. Overall, import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, ethylene polymer rigid pipes import price increased by +80.0% against 2017 indices. The pace of growth was the most pronounced in 2014 when the average import price increased by 71% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+18.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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