Report Update Nov 1, 2024

Singapore - Wool - Market Analysis, Forecast, Size, Trends and Insights

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Singapore: Wool Market 2024

Wool Market Size in Singapore

The Singaporean wool market contracted to $X in 2022, waning by -4.9% against the previous year. Overall, consumption saw a deep downturn. Wool consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Wool Production in Singapore

In value terms, wool production shrank to $X in 2022 estimated in export price. In general, production saw a drastic downturn. The pace of growth was the most pronounced in 2021 with an increase of 8.7% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Wool Exports

Exports from Singapore

In 2022, exports of wool from Singapore contracted rapidly to X kg, falling by -91.2% against the previous year's figure. Overall, exports continue to indicate a precipitous shrinkage. The growth pace was the most rapid in 2021 when exports increased by 26%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, wool exports dropped notably to $X in 2022. Over the period under review, exports recorded a precipitous setback. The growth pace was the most rapid in 2013 with an increase of 9.9%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

India (X kg), Malaysia (X kg) and Indonesia (X kg) were the main destinations of wool exports from Singapore.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of -22.7%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for wool exported from Singapore were Malaysia ($X), India ($X) and Indonesia ($X).

Malaysia, with a CAGR of -22.4%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average wool export price stood at $X per ton in 2022, growing by 236% against the previous year. In general, the export price posted buoyant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to India ($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 India (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Wool Imports

Imports into Singapore

In 2022, approx. X tons of wool were imported into Singapore; with a decrease of -30.6% against the previous year. In general, imports continue to indicate a perceptible reduction. The pace of growth was the most pronounced in 2017 when imports increased by 370% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, wool imports reduced rapidly to $X in 2022. Overall, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 568% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, New Zealand (X tons) was the main supplier of wool to Singapore, with a 96% share of total imports. Moreover, wool imports from New Zealand exceeded the figures recorded by the second-largest supplier, the UK (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand totaled -4.5%.

In value terms, New Zealand ($X) constituted the largest supplier of wool to Singapore, comprising 94% of total imports. The second position in the ranking was taken by the UK ($X), with a 4.4% share of total imports.

From 2012 to 2022, the average annual growth rate of value from New Zealand stood at -7.1%.

Import Prices by Country

The average wool import price stood at $X per ton in 2022, reducing by -2.6% against the previous year. In general, the import price saw a perceptible curtailment. The most prominent rate of growth was recorded in 2017 an increase of 42% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for New Zealand stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (-2.2%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for wool in the world?

The countries with the highest volumes of wool consumption in 2020 were China, the United States and India, with a combined 35% share of global consumption. Russia, Brazil, the UK, Pakistan, Germany, Kazakhstan, Italy, Iran, Australia and Egypt lagged somewhat behind, together accounting for a further 28%.

What are the largest producers of wool in the world?

The countries with the highest volumes of wool production in 2020 were China, the United States and New Zealand, together comprising 34% of global production. Russia, Brazil, the UK, Pakistan, Australia, Germany, Kazakhstan, Syrian Arab Republic, Turkey and Iran lagged somewhat behind, together comprising a further 30%.

What are the leading suppliers of wool to Singapore?

In value terms, New Zealand constituted the largest supplier of wool to Singapore, comprising 88% of total imports. The second position in the ranking was occupied by the UK, with an 8.2% share of total imports.

What are the leading importers of wool from Singapore?

In value terms, India remains the key foreign market for wool exports from Singapore, comprising 55% of total exports. The second position in the ranking was occupied by Malaysia $633), with a 17% share of total exports.

What is the average export price for wool in Singapore?

The average wool export price stood at $7,103 per ton in 2020, jumping by 21% against the previous year.

What is the average import price for wool in Singapore?

The average wool import price stood at $1,931 per ton in 2020, declining by -6.9% against the previous year.

This report provides an in-depth analysis of the wool market in Singapore. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 13102200 - Wool, degreased or carbonised, not carded or combed

Country coverage:

Singapore

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Singapore
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023