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

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

For the third year in a row, the Singaporean market for wood boxes, crates and cable drums recorded growth in sales value, which increased by 16% to $X in 2022. Over the period under review, consumption enjoyed a resilient expansion. Wood box and cable drum consumption peaked in 2022 and is expected to retain growth in the near future.

Production of Wood Boxes, Crates and Cable Drums in Singapore

In value terms, wood box and cable drum production declined to $X in 2022 estimated in export price. Over the period under review, production, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 82% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Wood Boxes, Crates and Cable Drums

Exports from Singapore

In 2022, the amount of wood boxes, crates and cable drums exported from Singapore stood at X units, picking up by 7.6% compared with the year before. In general, exports, however, showed a noticeable downturn. The most prominent rate of growth was recorded in 2019 with an increase of 27%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, wood box and cable drum exports shrank to $X in 2022. Over the period under review, exports, however, continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 20% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X units), the Netherlands (X units) and the United States (X units) were the main destinations of wood box and cable drum exports from Singapore, with a combined 68% share of total exports. Indonesia, China, Taiwan (Chinese), the Czech Republic, Australia, the United Arab Emirates, the UK and Germany lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Czech Republic (with a CAGR of +70.5%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), the Netherlands ($X) and the United States ($X) were the largest markets for wood box and cable drum exported from Singapore worldwide, with a combined 69% share of total exports. The Czech Republic, Indonesia, China, the United Arab Emirates, Taiwan (Chinese), Australia, the UK and Germany lagged somewhat behind, together accounting for a further 26%.

The Czech Republic, with a CAGR of +84.5%, saw the highest growth rate of the value of exports, among the main countries of destination 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 wood boxes, crates and cable drums stood at $X per unit in 2022, shrinking by -13.6% against the previous year. Overall, the export price saw a slight contraction. The growth pace was the most rapid in 2020 an increase of 23% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Germany ($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 the Czech Republic (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wood Boxes, Crates and Cable Drums

Imports into Singapore

Wood box and cable drum imports into Singapore soared to X units in 2022, rising by 118% on the year before. Over the period under review, imports enjoyed a mild increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, wood box and cable drum imports surged to $X in 2022. In general, imports posted a measured expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Malaysia (X units) constituted the largest supplier of wood box and cable drum to Singapore, accounting for a 49% share of total imports. Moreover, wood box and cable drum imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was held by the United States (X units), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia amounted to +23.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.1% per year) and the United States (+14.7% per year).

In value terms, Malaysia ($X), the United States ($X) and China ($X) were the largest wood box and cable drum suppliers to Singapore, with a combined 81% share of total imports. The Netherlands, Japan, the UK, Germany, Taiwan (Chinese) and South Korea lagged somewhat behind, together comprising a further 11%.

In terms of the main suppliers, the Netherlands, with a CAGR of +29.9%, recorded the highest rates of growth with regard to 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

The average import price for wood boxes, crates and cable drums stood at $X per unit in 2022, reducing by -24% against the previous year. Overall, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood box and cable drum import price increased by +22.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 34%. As a result, import price reached the peak level of $X per unit, and then dropped dramatically in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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