Singapore: Wood Barrel Market 2024

Wood Barrel Market Size in Singapore

The Singaporean wood barrel market reduced remarkably to $X in 2022, dropping by X% against the previous year. In general, consumption, however, saw strong growth. As a result, consumption attained the peak level of $X, and then fell rapidly in the following year.

Wood Barrel Production in Singapore

In value terms, wood barrel production fell dramatically to $X in 2022 estimated in export price. Overall, production, however, posted a strong expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Wood Barrel Exports

Exports from Singapore

In 2022, overseas shipments of casks, barrels, vats, tubs, and coopers products of wood decreased by X% to X units, falling for the third consecutive year after four years of growth. Over the period under review, exports saw a noticeable decrease. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, wood barrel exports fell markedly to $X in 2022. In general, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Australia (X units) was the main destination for wood barrel exports from Singapore, accounting for a X% share of total exports. Moreover, wood barrel exports to Australia exceeded the volume sent to the second major destination, China (X units), twofold. The third position in this ranking was held by the UK (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Australia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and the UK (X% per year).

In value terms, Australia ($X), China ($X) and the UK ($X) appeared to be the largest markets for wood barrel exported from Singapore worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, the UK, 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

In 2022, the average wood barrel export price amounted to $X per unit, shrinking by X% against the previous year. Overall, the export price showed a perceptible descent. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Australia ($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 the UK (X%), while the prices for the other major destinations experienced a decline.

Wood Barrel Imports

Imports into Singapore

In 2022, approx. X units of casks, barrels, vats, tubs, and coopers products of wood were imported into Singapore; remaining relatively unchanged against 2021. In general, imports saw a noticeable descent. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, wood barrel imports expanded slightly to $X in 2022. Over the period under review, imports saw a noticeable slump. The growth pace was the most rapid in 2014 when imports increased by X%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), the United States (X units) and Spain (X units) were the main suppliers of wood barrel imports to Singapore, with a combined X% share of total imports. Japan, Thailand, Malaysia, France and Germany lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Spain ($X) appeared to be the largest wood barrel suppliers to Singapore, together comprising X% of total imports. Japan, Thailand, Malaysia, France and Germany lagged somewhat behind, together comprising a further X%.

Among the main suppliers, France, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wood barrel import price stood at $X per unit in 2022, with an increase of X% against the previous year. In general, the import price, however, recorded a mild decline. The pace of growth appeared the most rapid in 2019 an increase of X%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per unit) and Germany ($X per unit), while the price for France ($X per unit) and Japan ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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