Singapore: Market for Wood Chips And Particles 2024

Market Size for Wood Chips And Particles in Singapore

The Singaporean wood chips and particles market totaled $X in 2022, with an increase of 5.1% against the previous year. Over the period under review, consumption showed a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Wood Chips And Particles in Singapore

In value terms, wood chips and particles production amounted to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 33%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Exports of Wood Chips And Particles

Exports from Singapore

Wood chips and particles exports from Singapore fell to X cubic meters in 2022, dropping by -12.7% on 2021. Over the period under review, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 158% against the previous year. Over the period under review, the exports attained the maximum at X cubic meters in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, wood chips and particles exports skyrocketed to $X in 2022. In general, exports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2021 when exports increased by 126%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand (X cubic meters) was the main destination for wood chips and particles exports from Singapore, with a 74% share of total exports. Moreover, wood chips and particles exports to Thailand exceeded the volume sent to the second major destination, the Philippines (X cubic meters), threefold.

From 2012 to 2022, the average annual growth rate of volume to Thailand stood at -15.3%.

In value terms, the Philippines ($X) and Thailand ($X) constituted the largest markets for wood chips and particles exported from Singapore worldwide.

The Philippines, with a CAGR of +90.0%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average wood chips and particles export price stood at $X per cubic meter in 2022, growing by 102% against the previous year. In general, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the average export prices reached the peak figure at $X per cubic meter in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per cubic meter), while the average price for exports to Thailand amounted to $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (-1.6%).

Imports of Wood Chips And Particles

Imports into Singapore

In 2022, purchases abroad of wood chips and particles decreased by -5.6% to X cubic meters, falling for the third year in a row after two years of growth. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 35% against the previous year. As a result, imports reached the peak of X cubic meters. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, wood chips and particles imports dropped to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 38% 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, Malaysia (X cubic meters) constituted the largest wood chips and particles supplier to Singapore, accounting for a 78% share of total imports. Moreover, wood chips and particles imports from Malaysia exceeded the figures recorded by the second-largest supplier, the UK (X cubic meters), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia stood at +128.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-2.4% per year) and Germany (-36.2% per year).

In value terms, Malaysia ($X) constituted the largest supplier of wood chips and particles to Singapore, comprising 61% of total imports. The second position in the ranking was taken by the UK ($X), with a 20% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Malaysia stood at +128.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-1.7% per year) and Germany (-26.3% per year).

Import Prices by Country

In 2022, the average wood chips and particles import price amounted to $X per cubic meter, dropping by -5.9% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by 28%. The import price peaked at $X per cubic meter in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per cubic meter), while the price for Malaysia ($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 Germany (+15.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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