Singapore: Talc And Steatite Market 2024

Talc And Steatite Market Size in Singapore

In 2022, the Singaporean talc and steatite market increased by 4.6% to $X, rising for the fourth year in a row after three years of decline. The market value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Talc And Steatite Production in Singapore

In value terms, talc and steatite production skyrocketed to $X in 2022 estimated in export price. Overall, production recorded a significant expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 473%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Talc And Steatite Exports

Exports from Singapore

After two years of growth, shipments abroad of talc and steatite decreased by -18.1% to X tons in 2022. In general, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 13% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, talc and steatite exports shrank rapidly to $X in 2022. Overall, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of 37% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons), Northern Mariana Islands (X tons) and Malaysia (X tons) were the main destinations of talc and steatite exports from Singapore, with a combined 73% share of total exports. Thailand, Australia, Guam, China, Vietnam and Maldives lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the biggest increases were recorded for Guam (with a CAGR of +16.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Australia ($X) and Thailand ($X) appeared to be the largest markets for talc and steatite exported from Singapore worldwide, together accounting for 66% of total exports. Malaysia, Northern Mariana Islands, China, Vietnam, Guam and Maldives lagged somewhat behind, together accounting for a further 22%.

Among the main countries of destination, Guam, with a CAGR of +18.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average talc and steatite export price amounted to $X per ton, which is down by -15.4% against the previous year. Overall, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the average export price increased by 27% against the previous year. The export price peaked at $X per ton in 2021, and then fell significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Guam ($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 Indonesia (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Talc And Steatite Imports

Imports into Singapore

In 2022, the amount of talc and steatite imported into Singapore declined slightly to X tons, leveling off at the previous year's figure. In general, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of 42%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, talc and steatite imports reduced slightly to $X in 2022. Overall, imports continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2021 with an increase of 73% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of talc and steatite to Singapore, accounting for a 52% share of total imports. Moreover, talc and steatite imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Thailand (X tons) ranked third in terms of total imports with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.6% per year) and Thailand (-9.1% per year).

In value terms, China ($X), the United States ($X) and Thailand ($X) constituted the largest talc and steatite suppliers to Singapore, together accounting for 82% of total imports. Japan, South Korea, India and France lagged somewhat behind, together comprising a further 9.6%.

India, with a CAGR of +1.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average talc and steatite import price stood at $X per ton in 2022, dropping by -3.7% against the previous year. Over the period under review, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, talc and steatite import price increased by +61.9% against 2014 indices. The growth pace was the most rapid in 2021 when the average import price increased by 22% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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