Singapore: Market for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles 2024

Market Size for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in Singapore

In 2021, the Singaporean market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased by 53% to $X, rising for the second consecutive year after five years of decline. Over the period under review, consumption showed a strong expansion. Consumption of peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Exports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Exports from Singapore

In 2021, after two years of decline, there was significant growth in shipments abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles, when their volume increased by 174% to X tons. In general, exports, however, continue to indicate a abrupt curtailment. Over the period under review, the exports of reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles soared to $X in 2021. Over the period under review, exports, however, faced a abrupt curtailment. Over the period under review, the exports of attained the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Israel (X tons) was the main destination for exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from Singapore, accounting for a 46% share of total exports. Moreover, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to Israel exceeded the volume sent to the second major destination, Indonesia (X tons), twofold. The third position in this ranking was taken by the Philippines (X tons), with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Israel was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+3.7% per year) and the Philippines (+35.7% per year).

In value terms, the largest markets for glass fibre filament, roving, and staple glass fibre article exported from Singapore were Indonesia ($X), Israel ($X) and the Philippines ($X), together accounting for 76% of total exports. These countries were followed by Slovenia, Malaysia, the United States, China and Papua New Guinea, which together accounted for a further 14%.

The United States, with a CAGR of +49.5%, saw the highest growth rate of 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

In 2021, the average export price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles amounted to $X per ton, surging by 3.8% against the previous year. In general, the export price, however, continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2014 an increase of 14%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Israel ($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 Germany (+142.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Imports into Singapore

In 2021, purchases abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased by 77% to X tons, rising for the second consecutive year after seven years of decline. Overall, imports, however, saw a noticeable decline. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles soared to $X in 2021. In general, imports, however, saw a drastic downturn. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of glass fibre filament, roving, and staple glass fibre article to Singapore, with a 56% share of total imports. Moreover, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by Belgium (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia stood at +10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-11.0% per year) and Belgium (+54.3% per year).

In value terms, Malaysia ($X), China ($X) and Japan ($X) were the largest glass fibre filament, roving, and staple glass fibre article suppliers to Singapore, together accounting for 80% of total imports. Belgium, Taiwan (Chinese) and South Korea lagged somewhat behind, together accounting for a further 14%.

In terms of the main suppliers, Belgium, with a CAGR of +37.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average import price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the import price, however, recorded a perceptible contraction. The most prominent rate of growth was recorded in 2019 when the average import price increased by 15%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, 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 Japan ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+10.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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