Singapore: Paper And Paperboard Market 2024

Paper And Paperboard Market Size in Singapore

The Singaporean paper and paperboard market shrank markedly to $X in 2022, with a decrease of -40.3% 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). In general, consumption recorded a deep setback. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Paper And Paperboard Exports

Exports from Singapore

In 2022, shipments abroad of paper and paperboard (creped, crinkled, embossed or perforated) decreased by -18.2% to X tons, falling for the second year in a row after three years of growth. Overall, exports continue to indicate a deep downturn. The growth pace was the most rapid in 2013 with an increase of 34%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, paper and paperboard exports fell to $X in 2022. Over the period under review, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 12% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for paper and paperboard exports from Singapore, with a 60% share of total exports. Moreover, paper and paperboard exports to Japan exceeded the volume sent to the second major destination, Malaysia (X tons), twofold. The third position in this ranking was taken by Indonesia (X tons), with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan stood at +39.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+1.9% per year) and Indonesia (-25.8% per year).

In value terms, Malaysia ($X) remains the key foreign market for paper and paperboard (creped, crinkled, embossed or perforated) exports from Singapore, comprising 62% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 10% share of total exports. It was followed by Japan, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia stood at -2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-20.1% per year) and Japan (+8.9% per year).

Export Prices by Country

The average paper and paperboard export price stood at $X per ton in 2022, growing by 7.8% against the previous year. Over the period under review, the export price, however, recorded a mild decrease. The pace of growth was the most pronounced in 2021 when the average export price increased by 59% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 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 Malaysia ($X per ton), while the average price for exports to Japan ($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 Indonesia (+7.7%), while the prices for the other major destinations experienced a decline.

Paper And Paperboard Imports

Imports into Singapore

In 2022, purchases abroad of paper and paperboard (creped, crinkled, embossed or perforated) decreased by -43% to X tons, falling for the third year in a row after three years of growth. Overall, imports saw a abrupt decline. The pace of growth appeared the most rapid in 2019 with an increase of 34%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, paper and paperboard imports contracted rapidly to $X in 2022. Over the period under review, imports continue to indicate a noticeable descent. The pace of growth appeared the most rapid in 2018 with an increase of 31%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X tons) constituted the largest paper and paperboard supplier to Singapore, with a 64% share of total imports. Moreover, paper and paperboard imports from Japan exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. The third position in this ranking was held by South Korea (X tons), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan totaled +58.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-24.6% per year) and South Korea (+5.1% per year).

In value terms, Japan ($X) constituted the largest supplier of paper and paperboard (creped, crinkled, embossed or perforated) to Singapore, comprising 70% of total imports. The second position in the ranking was held by Malaysia ($X), with a 15% share of total imports. It was followed by South Korea, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value from Japan stood at +46.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-15.7% per year) and South Korea (+9.2% per year).

Import Prices by Country

In 2022, the average paper and paperboard import price amounted to $X per ton, rising by 13% against the previous year. Overall, the import price posted a buoyant expansion. The pace of growth was the most pronounced in 2021 when the average import price increased by 85% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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