Singapore: Wood-Based Panels Market 2025

Wood-Based Panels Market Size in Singapore

In 2022, the Singaporean wood-based panels market increased by X% to $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption saw a perceptible setback. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Wood-Based Panels Production in Singapore

In value terms, wood-based panels production contracted to $X in 2022 estimated in export price. Overall, production recorded a noticeable contraction. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Wood-Based Panels Exports

Exports from Singapore

In 2022, wood-based panels exports from Singapore declined remarkably to X cubic meters, with a decrease of X% compared with the previous year. Over the period under review, exports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of X cubic meters, and then dropped sharply in the following year.

In value terms, wood-based panels exports reduced rapidly to $X in 2022. Overall, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X cubic meters), Maldives (X cubic meters) and Taiwan (Chinese) (X cubic meters) were the main destinations of wood-based panels exports from Singapore, with a combined X% share of total exports. Indonesia, Belgium, the Netherlands, Australia, the United States, Guam, Vietnam, New Caledonia and Thailand lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for wood-based panels exported from Singapore were Belgium ($X), Malaysia ($X) and Maldives ($X), together comprising X% of total exports.

Among the main countries of destination, Belgium, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average wood-based panels export price stood at $X per cubic meter in 2022, surging by X% against the previous year. Over the period under review, the export price, however, showed a noticeable contraction. Over the period under review, the average export prices attained the peak figure at $X per cubic meter in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per cubic meter), while the average price for exports to Taiwan (Chinese) ($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 the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wood-Based Panels Imports

Imports into Singapore

In 2022, the amount of wood-based panels imported into Singapore contracted sharply to X cubic meters, with a decrease of X% on the previous year's figure. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports reached the peak of X cubic meters, and then dropped markedly in the following year.

In value terms, wood-based panels imports fell to $X in 2022. Over the period under review, imports saw a noticeable downturn. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

China (X cubic meters), Vietnam (X cubic meters) and Indonesia (X cubic meters) were the main suppliers of wood-based panels imports to Singapore, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest wood-based panels suppliers to Singapore were Indonesia ($X), China ($X) and Vietnam ($X), together comprising X% of total imports.

Among the main suppliers, Vietnam, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average wood-based panels import price amounted to $X per cubic meter, with an increase of X% against the previous year. Overall, the import price, however, showed a perceptible decline. Over the period under review, average import prices reached the peak figure at $X per cubic meter in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 ($X per cubic meter), while the price for China ($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 (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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