Singapore: Market for Table, Kitchen Or Household Articles And Parts Of Stainless Steel 2024

Market Size for Table, Kitchen Or Household Articles And Parts Of Stainless Steel in Singapore

In 2022, the Singaporean stainless steel household articles market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Exports of Table, Kitchen Or Household Articles And Parts Of Stainless Steel

Exports from Singapore

Stainless steel household articles exports from Singapore shrank remarkably to X units in 2022, reducing by X% against the year before. Over the period under review, exports continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, stainless steel household articles exports expanded modestly to $X in 2022. In general, exports showed a abrupt descent. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X units), Malaysia (X units) and Taiwan (Chinese) (X units) were the main destinations of stainless steel household articles exports from Singapore, together accounting for X% of total exports. Japan, China, Vietnam, the Philippines, Hong Kong SAR, South Korea, Brunei Darussalam, Australia, Maldives and the UK lagged somewhat behind, together accounting for a further X%.

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

In value terms, Indonesia ($X), Malaysia ($X) and Taiwan (Chinese) ($X) constituted the largest markets for stainless steel household articles exported from Singapore worldwide, with a combined X% share of total exports. Japan, China, Vietnam, the Philippines, Hong Kong SAR, Brunei Darussalam, South Korea, Australia, Maldives and the UK lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, the UK, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average stainless steel household articles export price stood at $X per unit in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to Taiwan (Chinese) ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Table, Kitchen Or Household Articles And Parts Of Stainless Steel

Imports into Singapore

In 2022, stainless steel household articles imports into Singapore dropped to X units, which is down by X% compared with the previous year. In general, imports showed a slight decline. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, stainless steel household articles imports expanded markedly to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest stainless steel household articles supplier to Singapore, with a X% share of total imports. Moreover, stainless steel household articles imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), fourfold. The third position in this ranking was held by the United States (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and the United States (X% per year).

In value terms, China ($X) constituted the largest supplier of table, kitchen or household articles and parts of stainless steel to Singapore, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and the United States (X% per year).

Import Prices by Country

The average stainless steel household articles import price stood at $X per unit in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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