Singapore: Veneer Sheets Market 2025

Veneer Sheets Market Size in Singapore

The Singaporean veneer sheets market rose sharply to $X in 2022, growing by 7.3% against the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Veneer Sheets Production in Singapore

In value terms, veneer sheets production dropped to $X in 2022 estimated in export price. Over the period under review, production saw a pronounced decline. The most prominent rate of growth was recorded in 2017 with an increase of 22% against the previous year. Veneer sheets production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Veneer Sheets Exports

Exports from Singapore

Veneer sheets exports from Singapore contracted sharply to X cubic meters in 2022, waning by -99.7% on the previous year. In general, exports showed a slight decline. The pace of growth was the most pronounced in 2021 with an increase of 58,943%. As a result, the exports reached the peak of X cubic meters, and then dropped sharply in the following year.

In value terms, veneer sheets exports skyrocketed to $X in 2022. Overall, exports faced a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of 42% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) (X cubic meters), Malaysia (X cubic meters) and Australia (X cubic meters) were the main destinations of veneer sheets exports from Singapore, with a combined 60% share of total exports. Kenya, Indonesia, Thailand and the Philippines lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kenya (with a CAGR of +758.3%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Australia ($X) and the Philippines ($X) appeared to be the largest markets for veneer sheets exported from Singapore worldwide, with a combined 71% share of total exports. Indonesia, Taiwan (Chinese), Thailand and Kenya lagged somewhat behind, together comprising a further 21%.

In terms of the main countries of destination, Kenya, with a CAGR of +138.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average veneer sheets export price amounted to $X per cubic meter, surging by 36,315% against the previous year. Overall, the export price, however, continues to indicate a deep reduction. Over the period under review, the average export prices attained the peak figure at $X per cubic meter in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per cubic meter), while the average price for exports to Kenya ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (-2.0%), while the prices for the other major destinations experienced a decline.

Veneer Sheets Imports

Imports into Singapore

In 2022, veneer sheets imports into Singapore shrank sharply to X cubic meters, waning by -91.2% on the previous year. Overall, imports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by 2,659% against the previous year. As a result, imports reached the peak of X cubic meters, and then reduced dramatically in the following year.

In value terms, veneer sheets imports skyrocketed to $X in 2022. Over the period under review, imports recorded a deep slump. The growth pace was the most rapid in 2017 with an increase of 61% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X cubic meters) constituted the largest supplier of veneer sheets to Singapore, with a 78% share of total imports. Moreover, veneer sheets imports from China exceeded the figures recorded by the second-largest supplier, New Zealand (X cubic meters), more than tenfold. Malaysia (X cubic meters) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +23.0%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+14.2% per year) and Malaysia (+4.3% per year).

In value terms, China ($X) constituted the largest supplier of veneer sheets to Singapore, comprising 47% of total imports. The second position in the ranking was held by Malaysia ($X), with a 13% share of total imports. It was followed by New Zealand, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+3.0% per year) and New Zealand (+1.4% per year).

Import Prices by Country

The average veneer sheets import price stood at $X per cubic meter in 2022, jumping by 1,330% against the previous year. Overall, the import price, however, faced a abrupt setback. Over the period under review, average import prices hit record highs at $X per cubic meter in 2012; however, from 2013 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 Malaysia ($X per cubic meter), while the price for Japan ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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