Singapore: Wood Fuel Market 2024

Wood Fuel Market Size in Singapore

The Singaporean wood fuel market stood at $X in 2022, increasing by X% against the previous year. Over the period under review, consumption recorded a strong expansion. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Wood Fuel Production in Singapore

In value terms, wood fuel production contracted slightly to $X in 2022 estimated in export price. Overall, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Wood fuel production peaked at $X in 2019; afterwards, it flattened through to 2022.

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Wood Fuel Exports

Exports from Singapore

For the fifth consecutive year, Singapore recorded decline in overseas shipments of wood fuel, which decreased by X% to X cubic meters in 2022. Overall, exports continue to indicate a sharp decline. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The exports peaked at X cubic meters in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, wood fuel exports reduced notably to $X in 2022. In general, exports saw a deep slump. The growth pace was the most rapid in 2013 when exports increased by X%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Maldives (X cubic meters), Australia (X cubic meters) and Malaysia (X cubic meters) were the main destinations of wood fuel exports from Singapore, together comprising X% of total exports.

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

In value terms, Maldives ($X) emerged as the key foreign market for wood fuel exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by Australia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Maldives stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Malaysia (X% per year).

Export Prices by Country

The average wood fuel export price stood at $X per cubic meter in 2022, with an increase of X% against the previous year. Overall, the export price posted resilient growth. The pace of growth was the most pronounced in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

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 Maldives ($X per cubic meter), while the average price for exports to Australia ($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 Myanmar (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Fuel Imports

Imports into Singapore

In 2022, purchases abroad of wood fuel increased by X% to X cubic meters, rising for the second year in a row after two years of decline. In general, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, wood fuel imports soared to $X in 2022. Overall, imports saw significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Australia (X cubic meters), Vietnam (X cubic meters) and the United States (X cubic meters) were the main suppliers of wood fuel imports to Singapore, with a combined X% share of total imports.

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

In value terms, Vietnam ($X), Australia ($X) and the United States ($X) appeared to be the largest wood fuel suppliers to Singapore, together accounting for X% of total imports.

Vietnam, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average wood fuel import price amounted to $X per cubic meter, with an increase of X% against the previous year. Over the period under review, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood fuel import price increased by X% against 2019 indices. The growth pace was the most rapid in 2017 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per cubic meter in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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 Vietnam ($X per cubic meter), while the price for Italy ($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 the United Arab Emirates (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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