Singapore: Assembled Parquet Panels Market 2024

Assembled Parquet Panels Market Size in Singapore

The Singaporean assembled parquet panels market stood at $X in 2021, standing approx. at the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Assembled parquet panels consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Assembled Parquet Panels Production in Singapore

In value terms, assembled parquet panels production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 41%. Assembled parquet panels production peaked at $X in 2020, and then contracted in the following year.

Assembled Parquet Panels Exports

Exports from Singapore

After two years of growth, overseas shipments of assembled parquet panels decreased by -23.8% to X tons in 2021. Overall, exports, however, showed a mild increase. The most prominent rate of growth was recorded in 2019 with an increase of 102%. Over the period under review, the exports hit record highs at X tons in 2020, and then dropped rapidly in the following year.

In value terms, assembled parquet panels exports contracted notably to $X in 2021. In general, exports, however, posted temperate growth. The most prominent rate of growth was recorded in 2019 with an increase of 92% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then declined significantly in the following year.

Exports by Country

Malaysia (X tons) was the main destination for assembled parquet panels exports from Singapore, with a 49% share of total exports. Moreover, assembled parquet panels exports to Malaysia exceeded the volume sent to the second major destination, Israel (X tons), threefold. The third position in this ranking was taken by Indonesia (X tons), with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia amounted to +22.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+23.1% per year) and Indonesia (-2.9% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for assembled parquet panels exports from Singapore, comprising 52% of total exports. The second position in the ranking was held by Israel ($X), with a 15% share of total exports. It was followed by Indonesia, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia totaled +20.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+26.5% per year) and Indonesia (-4.9% per year).

Export Prices by Country

In 2021, the average assembled parquet panels export price amounted to $X per ton, flattening at the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 7.6%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Norway ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Assembled Parquet Panels Imports

Imports into Singapore

In 2021, assembled parquet panels imports into Singapore surged to X tons, with an increase of 29% against the previous year. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 34% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, assembled parquet panels imports soared to $X in 2021. In general, total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -8.5% against 2019 indices. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest assembled parquet panels supplier to Singapore, with a 44% share of total imports. Moreover, assembled parquet panels imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. The third position in this ranking was taken by Italy (X tons), with a 6.1% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-9.7% per year) and Italy (+21.2% per year).

In value terms, China ($X) constituted the largest supplier of assembled parquet panels to Singapore, comprising 39% of total imports. The second position in the ranking was held by Malaysia ($X), with a 10% share of total imports. It was followed by Italy, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-7.0% per year) and Italy (+20.1% per year).

Import Prices by Country

The average assembled parquet panels import price stood at $X per ton in 2021, growing by 12% against the previous year. Over the last nine years, it increased at an average annual rate of +3.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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