Singapore: Market for Wood Boxes, Crates and Cable Drums 2024

Market Size for Wood Boxes, Crates and Cable Drums in Singapore

The Singaporean market for wood boxes, crates and cable drums soared to $X in 2022, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption posted a strong expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Wood Boxes, Crates and Cable Drums

Exports from Singapore

In 2022, approx. X units of wood boxes, crates and cable drums were exported from Singapore; declining by X% on the year before. In general, exports showed a noticeable downturn. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, wood box and cable drum exports reduced to $X in 2022. Over the period under review, exports continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X units), the United States (X units) and Malaysia (X units) were the main destinations of wood box and cable drum exports from Singapore, with a combined X% share of total exports. The Czech Republic, Indonesia, China, the United Arab Emirates, Germany 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 the Czech Republic (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), the Netherlands ($X) and the United States ($X) appeared to be the largest markets for wood box and cable drum exported from Singapore worldwide, together comprising X% of total exports. The Czech Republic, Indonesia, China, the United Arab Emirates, Germany and Thailand lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, the Czech Republic, with a CAGR of X%, recorded 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

The average export price for wood boxes, crates and cable drums stood at $X per unit in 2022, growing by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Malaysia ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wood Boxes, Crates and Cable Drums

Imports into Singapore

In 2022, supplies from abroad of wood boxes, crates and cable drums increased by X% to X units, rising for the fifth year in a row after two years of decline. Overall, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, wood box and cable drum imports surged to $X in 2022. Over the period under review, imports showed a moderate expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Malaysia (X units) constituted the largest wood box and cable drum supplier to Singapore, with a X% share of total imports. Moreover, wood box and cable drum imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was taken by Germany (X units), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Germany (X% per year).

In value terms, the largest wood box and cable drum suppliers to Singapore were Malaysia ($X), China ($X) and Germany ($X), with a combined X% share of total imports.

Among the main suppliers, Malaysia, with a CAGR of X%, recorded 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

The average import price for wood boxes, crates and cable drums stood at $X per unit in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

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 South Korea ($X per unit), while the price for Germany ($X per unit) 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 more modest paces of growth.

Source: IndexBox Platform

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