Singapore: Ceramic Tile Market 2024

Ceramic Tile Market Size in Singapore

In 2023, the Singaporean ceramic tile market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, consumption recorded a noticeable reduction. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2023, consumption failed to regain momentum.

Ceramic Tile Exports

Exports from Singapore

Ceramic tile exports from Singapore dropped remarkably to X square meters in 2023, waning by X% compared with 2022 figures. Over the period under review, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2016 with an increase of X%. The exports peaked at X square meters in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, ceramic tile exports fell to $X in 2023. Overall, exports showed a abrupt downturn. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

Exports by Country

Indonesia (X square meters), Malaysia (X square meters) and the Philippines (X square meters) were the main destinations of ceramic tile exports from Singapore, with a combined X% share of total exports. Taiwan (Chinese), Australia, the United States, Maldives, Myanmar, Hong Kong SAR, China, Vietnam and Thailand lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and the Philippines ($X) were the largest markets for ceramic tile exported from Singapore worldwide, with a combined X% share of total exports. Taiwan (Chinese), Maldives, Australia, the United States, Myanmar, Hong Kong SAR, China, Vietnam and Thailand lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, the United States, with a CAGR of X%, 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 2023, the average ceramic tile export price amounted to $X per square meter, with an increase of X% against the previous year. In general, the export price posted a buoyant expansion. The pace of growth was the most pronounced in 2019 an increase of X%. Over the period under review, the average export prices hit record highs in 2023 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per square meter), while the average price for exports to the United States ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ceramic Tile Imports

Imports into Singapore

In 2023, purchases abroad of ceramic tiles decreased by X% to X square meters for the first time since 2020, thus ending a two-year rising trend. Over the period under review, imports showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X square meters in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, ceramic tile imports contracted sharply to $X in 2023. Overall, imports saw a noticeable descent. The pace of growth appeared the most rapid in 2022 when imports increased by X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, China (X square meters) constituted the largest supplier of ceramic tile to Singapore, with a X% share of total imports. Moreover, ceramic tile imports from China exceeded the figures recorded by the second-largest supplier, Italy (X square meters), twofold. Spain (X square meters) ranked third in terms of total imports with an X% share.

From 2012 to 2023, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Spain (X% per year).

In value terms, China ($X) constituted the largest supplier of ceramic tiles to Singapore, comprising X% of total imports. The second position in the ranking was taken by Italy ($X), with a X% share of total imports. It was followed by Spain, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Spain (X% per year).

Import Prices by Country

The average ceramic tile import price stood at $X per square meter in 2023, approximately mirroring the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per square meter. From 2019 to 2023, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from Italy ($X per square meter) and Spain ($X per square meter), while the price for Malaysia ($X per square meter) and Indonesia ($X per square meter) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform