Updated Dec 10, 2022 19:09

Clay Market in Singapore

Market Overview
In , the Singaporean clay market decreased by -% to $, falling for the second consecutive year after three years of growth. The market value increased at an average annual rate of +% over the period from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Clay consumption peaked at $ in 2019; however, from to , consumption failed to regain momentum.

In value terms, clay production fell to $ in estimated in export price. Over the period under review, the total production indicated a noticeable increase from 2007 to : its value increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against 2016 indices. The pace of growth appeared the most rapid in 2011 with an increase of %. Clay production peaked at $ in , and then fell slightly in the following year.


Consumption
In , consumption of clays in Singapore reached tons, remaining relatively unchanged against the year before. The total consumption volume increased at an average annual rate of +% over the period from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Clay consumption peaked at tons in 2019; however, from to , consumption stood at a somewhat lower figure.

The revenue of the clay market in Singapore was estimated at $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Clay consumption peaked at $ in 2019; however, from to , consumption stood at a somewhat lower figure.


Consumption by Type
Fireclay ( tons) constituted the product with the largest volume of consumption, comprising approx. % of total volume. Moreover, fireclay exceeded the figures recorded for the second-largest type, bentonite ( tons), twofold. The third position in this ranking was taken by kaolin and kaolinic clays ( tons), with a % share.

From 2007 to , the average annual rate of growth in terms of the volume of fireclay consumptions amounted to +%. With regard to the other consumed products, the following average annual rates of growth were recorded: bentonite (+% per year) and kaolin and kaolinic clays (-% per year).

In value terms, fireclay ($) led the market, alone. The second position in the ranking was held by bentonite ($). It was followed by kaolin and kaolinic clays.

From 2007 to , the average annual growth rate of the value of fireclay markets amounted to +%. With regard to the other consumed products, the following average annual rates of growth were recorded: bentonite (+% per year) and kaolin and kaolinic clays (-% per year).


Market Forecast
Driven by increasing demand for clay in Singapore, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Singapore remains a net importer of clay; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.