Singapore: Market for Aluminium Casks, Drums, Cans, Boxes and Similar Containers 2024

Market Size for Aluminium Casks, Drums, Cans, Boxes and Similar Containers in Singapore

The Singaporean market for aluminium casks, drums, cans, boxes and similar containers rose markedly to $X in 2023, with an increase of X% against the previous year. In general, the total consumption indicated measured growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the maximum level in 2023 and is likely to continue growth in the immediate term.

Production of Aluminium Casks, Drums, Cans, Boxes and Similar Containers in Singapore

In value terms, production of aluminium casks, drums, cans, boxes and similar containers amounted to $X in 2023 estimated in export price. In general, the total production indicated a perceptible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Production of peaked at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Exports of Aluminium Casks, Drums, Cans, Boxes and Similar Containers

Exports from Singapore

After two years of growth, overseas shipments of aluminium casks, drums, cans, boxes and similar containers decreased by X% to X units in 2023. Over the period under review, exports saw a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of X%. The exports peaked at X units in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

In value terms, exports of aluminium casks, drums, cans, boxes and similar containers reduced markedly to $X in 2023. Overall, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2022 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Cambodia (X units), Ireland (X units) and Thailand (X units) were the main destinations of exports of aluminium casks, drums, cans, boxes and similar containers from Singapore, together comprising X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for aluminium cask, drum, can, box and similar container exported from Singapore were Cambodia ($X), Malaysia ($X) and Ireland ($X), with a combined X% share of total exports. Thailand, Japan, Indonesia and Belgium lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Thailand, with a CAGR of X%, recorded 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

The average export price for aluminium casks, drums, cans, boxes and similar containers stood at $X per unit in 2023, dropping by X% against the previous year. Overall, the export price continues to indicate a perceptible downturn. The growth pace was the most rapid in 2022 when the average export price increased by X%. The export price peaked at $X per unit in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

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

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

Imports of Aluminium Casks, Drums, Cans, Boxes and Similar Containers

Imports into Singapore

In 2023, after two years of growth, there was significant decline in supplies from abroad of aluminium casks, drums, cans, boxes and similar containers, when their volume decreased by X% to X units. Over the period under review, imports continue to indicate a noticeable decline. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, imports of aluminium casks, drums, cans, boxes and similar containers dropped sharply to $X in 2023. Overall, imports recorded a deep reduction. The growth pace was the most rapid in 2021 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Malaysia (X units) constituted the largest aluminium cask, drum, can, box and similar container supplier to Singapore, accounting for a X% share of total imports. Moreover, imports of aluminium casks, drums, cans, boxes and similar containers from Malaysia exceeded the figures recorded by the second-largest supplier, China (X units), eightfold. Vietnam (X units) ranked third in terms of total imports with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Malaysia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Vietnam (X% per year).

In value terms, Malaysia ($X), China ($X) and Vietnam ($X) appeared to be the largest aluminium cask, drum, can, box and similar container suppliers to Singapore, together comprising X% of total imports. The United States, Thailand, South Korea, Saudi Arabia and Cambodia lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, South Korea, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average import price for aluminium casks, drums, cans, boxes and similar containers amounted to $X per unit, reducing by X% against the previous year. Overall, the import price saw a mild decline. The most prominent rate of growth was recorded in 2022 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit, and then contracted dramatically in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was China ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform