Singapore: Market for Rigid Tubes, Pipes and Hoses of Polymers of Propylene 2024

Market Size for Rigid Tubes, Pipes and Hoses of Polymers of Propylene in Singapore

The Singaporean propylene polymer rigid pipes market surged to $X in 2022, rising by 34% against the previous year. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +111.7% against 2016 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Rigid Tubes, Pipes and Hoses of Polymers of Propylene in Singapore

In value terms, propylene polymer rigid pipes production contracted to $X in 2022 estimated in export price. Overall, production enjoyed a measured increase. The pace of growth was the most pronounced in 2019 with an increase of 60% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Exports of Rigid Tubes, Pipes and Hoses of Polymers of Propylene

Exports from Singapore

Propylene polymer rigid pipes exports from Singapore fell rapidly to X tons in 2022, declining by -20.7% against the previous year's figure. Over the period under review, exports, however, posted a strong expansion. The growth pace was the most rapid in 2016 with an increase of 72% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, propylene polymer rigid pipes exports plummeted to $X in 2022. Overall, exports, however, continue to indicate a measured increase. The most prominent rate of growth was recorded in 2019 with an increase of 179% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for propylene polymer rigid pipes exports from Singapore, accounting for a 57% share of total exports. Moreover, propylene polymer rigid pipes exports to Malaysia exceeded the volume sent to the second major destination, Indonesia (X tons), threefold. The third position in this ranking was held by Australia (X tons), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia stood at +35.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+6.3% per year) and Australia (+7.9% per year).

In value terms, Malaysia ($X) remains the key foreign market for rigid tubes, pipes and hoses of polymers of propylene exports from Singapore, comprising 65% of total exports. The second position in the ranking was taken by Indonesia ($X), with an 11% share of total exports. It was followed by Australia, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia totaled +32.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-3.7% per year) and Australia (+5.4% per year).

Export Prices by Country

In 2022, the average propylene polymer rigid pipes export price amounted to $X per ton, waning by -36.9% against the previous year. Overall, the export price recorded a pronounced slump. The pace of growth appeared the most rapid in 2019 when the average export price increased by 64% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Vietnam ($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 China (-0.2%), while the prices for the other major destinations experienced a decline.

Imports of Rigid Tubes, Pipes and Hoses of Polymers of Propylene

Imports into Singapore

In 2022, overseas purchases of rigid tubes, pipes and hoses of polymers of propylene increased by 72% to X tons, rising for the second year in a row after two years of decline. In general, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 122%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, propylene polymer rigid pipes imports surged to $X in 2022. Overall, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 119%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of propylene polymer rigid pipes to Singapore, with a 51% share of total imports. Moreover, propylene polymer rigid pipes imports from Malaysia exceeded the figures recorded by the second-largest supplier, Austria (X tons), twofold. Germany (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia stood at +25.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+53.6% per year) and Germany (+18.1% per year).

In value terms, the largest propylene polymer rigid pipes suppliers to Singapore were Malaysia ($X), Austria ($X) and Germany ($X), together accounting for 74% of total imports. China, the United States, Poland and Italy lagged somewhat behind, together accounting for a further 19%.

In terms of the main suppliers, Poland, with a CAGR of +114.7%, 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

The average propylene polymer rigid pipes import price stood at $X per ton in 2022, which is down by -24.9% against the previous year. Over the period under review, the import price continues to indicate a pronounced slump. The pace of growth was the most pronounced in 2018 when the average import price increased by 44%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (-0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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