Singapore: Market for Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike 2024

Market Size for Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike in Singapore

The Singaporean gum or wood oils market fell to $X in 2022, shrinking by X% against the previous year. Overall, consumption, however, saw a slight contraction. Gum or wood oils consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Production of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike in Singapore

In value terms, gum or wood oils production expanded remarkably to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of X%. Gum or wood oils production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike

Exports from Singapore

In 2022, overseas shipments of gum, wood or sulphate turpentine oils, pine oil and other alike increased by X% to X tons, rising for the fifth consecutive year after three years of decline. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, gum or wood oils exports rose remarkably to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons) was the main destination for gum or wood oils exports from Singapore, accounting for a X% share of total exports. Moreover, gum or wood oils exports to India exceeded the volume sent to the second major destination, Indonesia (X tons), twofold. Brunei Darussalam (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Brunei Darussalam (X% per year).

In value terms, India ($X) remains the key foreign market for gum, wood or sulphate turpentine oils, pine oil and other alike exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with an X% share of total exports. It was followed by South Korea, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and South Korea (X% per year).

Export Prices by Country

The average gum or wood oils export price stood at $X per ton in 2022, falling by X% against the previous year. In general, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gum or wood oils export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike

Imports into Singapore

In 2022, gum or wood oils imports into Singapore soared to X tons, increasing by X% on 2021. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2019 when imports increased by X%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, gum or wood oils imports skyrocketed to $X in 2022. In general, imports enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest gum or wood oils supplier to Singapore, accounting for a X% share of total imports. Moreover, gum or wood oils imports from Indonesia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by Brazil (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Brazil (X% per year).

In value terms, Indonesia ($X), China ($X) and Brazil ($X) appeared to be the largest gum or wood oils suppliers to Singapore, together accounting for X% of total imports. The United States, France, Germany and New Zealand lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

The average gum or wood oils import price stood at $X per ton in 2022, declining by X% against the previous year. Overall, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gum or wood oils import price increased by X% against 2020 indices. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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 France ($X per ton), while the price for New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2022, 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

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