Malaysia: Market for Wood Boxes, Crates and Cable Drums 2024

Market Size for Wood Boxes, Crates and Cable Drums in Malaysia

The Malaysian market for wood boxes, crates and cable drums declined modestly to $X in 2022, remaining constant against the previous year. Overall, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +3.5% against 2020 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Wood Boxes, Crates and Cable Drums in Malaysia

In value terms, wood box and cable drum production contracted modestly to $X in 2022 estimated in export price. In general, the total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.6% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 34%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Wood Boxes, Crates and Cable Drums

Exports from Malaysia

In 2022, overseas shipments of wood boxes, crates and cable drums decreased by -42% to X units for the first time since 2017, thus ending a four-year rising trend. Over the period under review, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 143% against the previous year. As a result, the exports reached the peak of X units, and then shrank notably in the following year.

In value terms, wood box and cable drum exports declined dramatically to $X in 2022. Overall, exports, however, enjoyed noticeable growth. The most prominent rate of growth was recorded in 2021 with an increase of 104%. As a result, the exports reached the peak of $X, and then declined remarkably in the following year.

Exports by Country

Singapore (X units) was the main destination for wood box and cable drum exports from Malaysia, with a 68% share of total exports. Moreover, wood box and cable drum exports to Singapore exceeded the volume sent to the second major destination, Denmark (X units), fourfold. The United States (X units) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume to Singapore totaled +30.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+25.5% per year) and the United States (+17.6% per year).

In value terms, Singapore ($X) remains the key foreign market for wood boxes, crates and cable drums exports from Malaysia, comprising 76% of total exports. The second position in the ranking was held by Thailand ($X), with a 6.9% share of total exports. It was followed by the United States, with a 3.1% share.

From 2012 to 2022, the average annual growth rate of value to Singapore amounted to +18.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+2.4% per year) and the United States (+12.0% per year).

Export Prices by Country

In 2022, the average export price for wood boxes, crates and cable drums amounted to $X per unit, increasing by 28% against the previous year. In general, the export price, however, continues to indicate a abrupt slump. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to Denmark ($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 Thailand (+3.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Wood Boxes, Crates and Cable Drums

Imports into Malaysia

After five years of decline, purchases abroad of wood boxes, crates and cable drums increased by 68% to X units in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by 88%. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, wood box and cable drum imports soared to $X in 2022. In general, imports posted buoyant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 56%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X units), Singapore (X units) and Japan (X units) were the main suppliers of wood box and cable drum imports to Malaysia, with a combined 94% share of total imports. India and Hong Kong SAR lagged somewhat behind, together comprising a further 3.7%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +23.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constituted the largest supplier of wood boxes, crates and cable drums to Malaysia, comprising 51% of total imports. The second position in the ranking was held by China ($X), with a 22% share of total imports. It was followed by Hong Kong SAR, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value from Singapore amounted to +19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.2% per year) and Hong Kong SAR (+0.1% per year).

Import Prices by Country

In 2022, the average import price for wood boxes, crates and cable drums amounted to $X per unit, falling by -29.6% against the previous year. Overall, the import price, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2014 when the average import price increased by 108% against the previous year. The import price peaked at $X per unit in 2021, and then fell rapidly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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