Singapore: Tantalum Market 2024

Tantalum Market Size in Singapore

The Singaporean tantalum market skyrocketed to $X in 2022, jumping by 67% against the previous year. Over the period under review, consumption, however, continues to indicate a abrupt setback. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Tantalum Production in Singapore

In value terms, tantalum production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, faced a dramatic setback. The growth pace was the most rapid in 2020 when the production volume increased by 199% against the previous year. Tantalum production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Tantalum Exports

Exports from Singapore

In 2022, shipments abroad of tantalum decreased by -41.8% to X kg, falling for the second year in a row after two years of growth. Over the period under review, exports showed a pronounced reduction. The most prominent rate of growth was recorded in 2017 with an increase of 5,837% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, tantalum exports shrank to $X in 2022. Overall, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by 9,114% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X kg) was the main destination for tantalum exports from Singapore, accounting for a 70% share of total exports. Moreover, tantalum exports to the United States exceeded the volume sent to the second major destination, Brunei Darussalam (X kg), fourfold.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +25.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brunei Darussalam (0.0% per year) and Indonesia (-20.3% per year).

In value terms, the United States ($X) remains the key foreign market for tantalum exports from Singapore, comprising 75% of total exports. The second position in the ranking was held by Indonesia ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-20.8% per year) and Brunei Darussalam (0.0% per year).

Export Prices by Country

In 2022, the average tantalum export price amounted to $X per ton, growing by 70% against the previous year. Overall, the export price, however, continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2018 when the average export price increased by 89%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Brunei Darussalam ($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 (-0.6%).

Tantalum Imports

Imports into Singapore

In 2022, supplies from abroad of tantalum decreased by -65.1% to X kg, falling for the second year in a row after two years of growth. Over the period under review, imports saw a significant decrease. The pace of growth appeared the most rapid in 2014 when imports increased by 114% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, tantalum imports contracted rapidly to $X in 2022. Overall, imports saw a significant contraction. The pace of growth appeared the most rapid in 2014 with an increase of 89%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X kg) constituted the largest tantalum supplier to Singapore, accounting for a 67% share of total imports. Moreover, tantalum imports from Germany exceeded the figures recorded by the second-largest supplier, the UK (X kg), threefold.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (0.0% per year) and China (-53.4% per year).

In value terms, Germany ($X), the UK ($X) and China ($X) appeared to be the largest tantalum suppliers to Singapore.

The UK, with a CAGR of +8.4%, 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 mixed trend patterns.

Import Prices by Country

In 2022, the average tantalum import price amounted to $X per ton, reducing by -19.3% against the previous year. Overall, the import price showed a perceptible slump. The pace of growth was the most pronounced in 2013 an increase of 163%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+26.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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