Singapore: Mill Rolling Roll Market 2024

Mill Rolling Roll Market Size in Singapore

The Singaporean mill rolling roll market was finally on the rise to reach $X in 2022, after five years of decline. Over the period under review, consumption continues to indicate a strong increase. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Mill Rolling Roll Exports

Exports from Singapore

In 2022, overseas shipments of rolls for rolling mills were finally on the rise to reach X units after two years of decline. In general, exports enjoyed a tangible expansion. The most prominent rate of growth was recorded in 2019 with an increase of 398%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, mill rolling roll exports totaled $X in 2022. Overall, exports, however, showed a noticeable setback. The pace of growth appeared the most rapid in 2019 with an increase of 90% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for mill rolling roll exports from Singapore, with a 60% share of total exports. Moreover, mill rolling roll exports to the United States exceeded the volume sent to the second major destination, Malaysia (X units), twofold. The third position in this ranking was taken by Australia (X units), with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +47.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+3.9% per year) and Australia (-25.7% per year).

In value terms, the United States ($X) remains the key foreign market for rolls for rolling mills exports from Singapore, comprising 66% of total exports. The second position in the ranking was held by Malaysia ($X), with a 24% share of total exports. It was followed by Australia, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +40.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-4.2% per year) and Australia (-7.3% per year).

Export Prices by Country

In 2022, the average mill rolling roll export price amounted to $X per unit, rising by 3.1% against the previous year. Over the period under review, the export price, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2020 when the average export price increased by 84% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to India ($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 Oman (+91.0%), while the prices for the other major destinations experienced mixed trend patterns.

Mill Rolling Roll Imports

Imports into Singapore

In 2022, overseas purchases of rolls for rolling mills increased by 92% to X units, rising for the third year in a row after three years of decline. Overall, imports recorded a strong expansion. The pace of growth was the most pronounced in 2016 when imports increased by 149%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, mill rolling roll imports soared to $X in 2022. Over the period under review, imports, however, saw a abrupt contraction. The pace of growth appeared the most rapid in 2016 with an increase of 163%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Austria (X units), China (X units) and South Korea (X units) were the main suppliers of mill rolling roll imports to Singapore, with a combined 61% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +154.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest mill rolling roll suppliers to Singapore were South Korea ($X), China ($X) and Austria ($X), with a combined 79% share of total imports.

In terms of the main suppliers, Austria, with a CAGR of +31.4%, 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

In 2022, the average mill rolling roll import price amounted to $X per unit, waning by -36.6% against the previous year. Over the period under review, the import price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 when the average import price increased by 5.7%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Australia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-11.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :