Singapore: Market for Spray Guns And Similar Appliances 2024

Market Size for Spray Guns And Similar Appliances in Singapore

In 2022, the Singaporean market for spray guns and similar appliances increased by 10% to $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, recorded a slight descent. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Production of Spray Guns And Similar Appliances in Singapore

In value terms, spray guns and similar appliances production contracted to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 94%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Spray Guns And Similar Appliances

Exports from Singapore

In 2022, after four years of growth, there was significant decline in shipments abroad of spray guns and similar appliances, when their volume decreased by -5.4% to X units. In general, total exports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +54.1% against 2017 indices. The pace of growth appeared the most rapid in 2021 with an increase of 54% against the previous year. As a result, the exports attained the peak of X units, and then declined in the following year.

In value terms, spray guns and similar appliances exports surged to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 22% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X units), Taiwan (Chinese) (X units) and Indonesia (X units) were the main destinations of spray guns and similar appliances exports from Singapore, together comprising 56% of total exports. Vietnam, China, Thailand, Bangladesh, India, Australia, the Philippines, Pakistan, Suriname and Saudi Arabia lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Pakistan (with a CAGR of +61.6%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Taiwan (Chinese) ($X) and Indonesia ($X) constituted the largest markets for spray guns and similar appliances exported from Singapore worldwide, with a combined 58% share of total exports. Vietnam, China, Thailand, Bangladesh, India, Australia, the Philippines, Pakistan, Saudi Arabia and Suriname lagged somewhat behind, together accounting for a further 29%.

Pakistan, with a CAGR of +71.6%, recorded the highest growth rate of the value of exports, in terms of 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 export price for spray guns and similar appliances stood at $X per unit in 2022, picking up by 29% against the previous year. Overall, the export price, however, saw a perceptible shrinkage. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bangladesh ($X per unit), while the average price for exports to Suriname ($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 Pakistan (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spray Guns And Similar Appliances

Imports into Singapore

For the fourth consecutive year, Singapore recorded growth in supplies from abroad of spray guns and similar appliances, which increased by 1.4% to X units in 2022. Over the period under review, imports, however, continue to indicate a noticeable descent. The pace of growth was the most pronounced in 2019 when imports increased by 19%. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, spray guns and similar appliances imports rose significantly to $X in 2022. Overall, imports, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2019 with an increase of 20%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X units), China (X units) and South Korea (X units) were the main suppliers of spray guns and similar appliances imports to Singapore, with a combined 55% share of total imports. Germany, Malaysia, Japan, Indonesia, Taiwan (Chinese), Italy, Greece and the UK lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Greece (with a CAGR of +43.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and South Korea ($X) appeared to be the largest spray guns and similar appliances suppliers to Singapore, with a combined 56% share of total imports. Germany, Malaysia, Japan, Indonesia, Italy, Taiwan (Chinese), the UK and Greece lagged somewhat behind, together comprising a further 32%.

Greece, with a CAGR of +46.9%, 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

The average import price for spray guns and similar appliances stood at $X per unit in 2022, rising by 6.5% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 13% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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