Singapore: Metal-Reinforced Rubber Hose Market 2024

Metal-Reinforced Rubber Hose Market Size in Singapore

The Singaporean metal-reinforced rubber hose market declined dramatically to $X in 2022, waning by -45% against the previous year. In general, consumption, however, recorded a buoyant increase. As a result, consumption reached the peak level of $X, and then fell markedly in the following year.

Metal-Reinforced Rubber Hose Production in Singapore

In value terms, metal-reinforced rubber hose production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 45% against the previous year. Metal-reinforced rubber hose production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Metal-Reinforced Rubber Hose Exports

Exports from Singapore

In 2022, exports of rubber hose reinforced with metal from Singapore contracted to X tons, declining by -10.5% compared with 2021 figures. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 79% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal-reinforced rubber hose exports soared to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 37% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons), the Philippines (X tons) and Australia (X tons) were the main destinations of metal-reinforced rubber hose exports from Singapore, with a combined 59% share of total exports. South Korea, Indonesia, the United States, Italy, Malaysia, India, Thailand, Taiwan (Chinese), Hong Kong SAR and Vietnam lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +185.0%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), the Philippines ($X) and Australia ($X) were the largest markets for metal-reinforced rubber hose exported from Singapore worldwide, with a combined 51% share of total exports. Indonesia, the United States, South Korea, Italy, Thailand, India, Malaysia, Taiwan (Chinese), Vietnam and Hong Kong SAR lagged somewhat behind, together accounting for a further 44%.

Italy, with a CAGR of +195.2%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average metal-reinforced rubber hose export price stood at $X per ton in 2022, jumping by 34% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; afterwards, it flattened through to 2022.

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 Indonesia ($X per ton), while the average price for exports to Italy ($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 India (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Metal-Reinforced Rubber Hose Imports

Imports into Singapore

In 2022, metal-reinforced rubber hose imports into Singapore reduced to X tons, flattening at the previous year. In general, imports saw a perceptible downturn. The pace of growth appeared the most rapid in 2021 with an increase of 47%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, metal-reinforced rubber hose imports totaled $X in 2022. Overall, imports recorded a mild reduction. The pace of growth appeared the most rapid in 2021 when imports increased by 60%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

India (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of metal-reinforced rubber hose imports to Singapore, with a combined 64% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +31.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest metal-reinforced rubber hose suppliers to Singapore were India ($X), the United States ($X) and China ($X), with a combined 73% share of total imports. Malaysia, Italy, Turkey, Thailand and Belgium lagged somewhat behind, together comprising a further 21%.

Malaysia, with a CAGR of +33.7%, recorded the highest rates of growth with regard to 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 2022, the average metal-reinforced rubber hose import price amounted to $X per ton, surging by 4.5% against the previous year. Overall, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal-reinforced rubber hose import price increased by +103.2% against 2016 indices. The growth pace was the most rapid in 2018 when the average import price increased by 53%. The import price peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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