Singapore: Semiconductor Device Market 2024

Semiconductor Device Market Size in Singapore

In 2021, after two years of decline, there was significant growth in the Singaporean semiconductor device market, when its value increased by 78% to $X. Over the period under review, consumption saw a buoyant expansion. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Semiconductor Device Exports

Exports from Singapore

In 2021, overseas shipments of semiconductor devices were finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, continue to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2017 with an increase of 134%. Over the period under review, the exports reached the peak figure at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, semiconductor device exports surged to $X in 2021. In general, exports, however, saw a noticeable decrease. The growth pace was the most rapid in 2013 when exports increased by 110%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia (X units) was the main destination for semiconductor device exports from Singapore, accounting for a 44% share of total exports. Moreover, semiconductor device exports to Malaysia exceeded the volume sent to the second major destination, South Korea (X units), twofold. The third position in this ranking was taken by China (X units), with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia stood at +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+24.3% per year) and China (+6.8% per year).

In value terms, Malaysia ($X) remains the key foreign market for semiconductor devices exports from Singapore, comprising 44% of total exports. The second position in the ranking was taken by South Korea ($X), with a 20% share of total exports. It was followed by China, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia totaled +5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+25.7% per year) and China (+7.9% per year).

Export Prices by Country

The average semiconductor device export price stood at $X per unit in 2021, growing by 13% against the previous year. Overall, the export price showed a mild expansion. The growth pace was the most rapid in 2015 an increase of 90%. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Japan ($X per unit) and India ($X per unit), while the average price for exports to Taiwan (Chinese) ($X per unit) and Thailand ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+1.1%), while the prices for the other major destinations experienced more modest paces of growth.

Semiconductor Device Imports

Imports into Singapore

After two years of decline, purchases abroad of semiconductor devices increased by 45% to X units in 2021. In general, imports continue to indicate perceptible growth. The pace of growth was the most pronounced in 2016 with an increase of 214% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, semiconductor device imports skyrocketed to $X in 2021. Overall, imports continue to indicate a pronounced increase. The growth pace was the most rapid in 2016 when imports increased by 116% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), South Korea (X units) and Malaysia (X units) were the main suppliers of semiconductor device imports to Singapore, with a combined 70% share of total imports. Taiwan (Chinese), the Philippines, Israel, the United States and Japan lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2021, the biggest increases were recorded for Israel (with a CAGR of +71.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Malaysia ($X) were the largest semiconductor device suppliers to Singapore, with a combined 70% share of total imports. Taiwan (Chinese), the Philippines, Israel, the United States and Japan lagged somewhat behind, together accounting for a further 27%.

Among the main suppliers, Israel, with a CAGR of +69.1%, recorded the highest growth rate of 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 semiconductor device import price amounted to $X per unit, with an increase of 24% against the previous year. Over the period under review, the import price, however, recorded a slight contraction. The pace of growth was the most pronounced in 2014 when the average import price increased by 39%. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the Philippines ($X per unit) and Japan ($X per unit), while the price for Malaysia ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (-1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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