Singapore: Steatite Market 2021

Steatite Market Size in Singapore

In 2019, the Singaporean steatite market decreased by -X% to $X, falling for the fourth consecutive year after two years of growth. In general, consumption continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2010 when the market value increased by X% y-o-y. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2019, consumption remained at a lower figure.

Steatite Exports

Exports from Singapore

In 2019, approx. X tons of steatites were exported from Singapore; shrinking by -X% compared with the year before. Over the period under review, exports recorded a abrupt decrease. The growth pace was the most rapid in 2010 when exports increased by X% y-o-y. Exports peaked at X tons in 2011; however, from 2012 to 2019, exports failed to regain the momentum.

In value terms, steatite exports reduced notably to $X in 2019. In general, exports showed a modest expansion. The pace of growth appeared the most rapid in 2008 when exports increased by X% against the previous year. Exports peaked at $X in 2011; however, from 2012 to 2019, exports failed to regain the momentum.

Exports by Country

Northern Mariana Islands (X tons), Malaysia (X tons) and Indonesia (X tons) were the main destinations of steatite exports from Singapore, with a combined X% share of total exports.

From 2007 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Northern Mariana Islands, while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steatite exported from Singapore were Australia ($X), Indonesia ($X) and Malaysia ($X), with a combined X% share of total exports. Northern Mariana Islands, Thailand, the Philippines and Maldives lagged somewhat behind, together accounting for a further X Mariana Islands 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

In 2019, the average steatite export price amounted to $X per ton, falling by -X% against the previous year. In general, the export price, however, posted resilient growth. The pace of growth was the most pronounced in 2008 when the average export price increased by X% y-o-y. Over the period under review, average export prices hit record highs at $X per ton in 2018, and then reduced in the following year.

There were significant differences in the average prices for the major foreign markets. In 2019, the country with the highest price was Australia ($X per ton), while the average price for exports to Northern Mariana Islands ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia, while the prices for the other major destinations experienced more modest paces of growth.

Steatite Imports

Imports into Singapore

Steatite imports into Singapore declined to X tons in 2019, falling by -X% compared with 2018 figures. In general, imports recorded a abrupt decline. The growth pace was the most rapid in 2010 with an increase of X% y-o-y. Imports peaked at X tons in 2011; however, from 2012 to 2019, imports failed to regain the momentum.

In value terms, steatite imports fell to $X in 2019. Overall, imports continue to indicate a noticeable reduction. The growth pace was the most rapid in 2010 with an increase of X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2019, imports remained at a lower figure.

Imports by Country

In 2019, China (X tons) constituted the largest steatite supplier to Singapore, with a X% share of total imports. Moreover, steatite imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), twofold. The third position in this ranking was occupied by the U.S. (X tons), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from China totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+X% per year) and the U.S. (-X% per year).

In value terms, the largest steatite suppliers to Singapore were China ($X), Thailand ($X) and the U.S. ($X), together accounting for X% of total imports.

Thailand recorded the highest growth rate of the value of imports, in terms of 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 steatite import price stood at $X per ton in 2019, remaining relatively unchanged against the previous year. In general, import price indicated measured growth from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, steatite import price increased by +X% against 2017 indices. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2019, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Japan ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Thailand, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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