Coniferous sawnwood production in Singapore has shown a stable trend from 2013 to 2018, remaining constant at 5.0 thousand cubic meters. A slight decline began in 2019, reaching 4.99 thousand cubic meters. The production dropped significantly in 2020 and 2021, followed by a recovery in 2022 and 2023, stabilizing at 4.97 thousand cubic meters. The forecasted data from 2024 to 2028 indicates a gradual decrease, with the production expected to be around 4.92 thousand cubic meters by 2028.
The year-on-year variation over the last two years has been relatively minor, showing a slight decrease of 0.12% in 2023. The compound annual growth rate (CAGR) over the last 5 years stood at -0.14%. The forecasted 5-year CAGR indicates a minimal decline at -0.09%, anticipating a slow reduction of around 0.44% over the next 5 years.
Future trends to watch for include:
- Changes in demand for coniferous sawnwood due to shifts in construction and manufacturing sectors.
- Economic policies and environmental regulations that might impact production and resource availability.
- Technological advancements in wood processing and alternative materials that could influence the market dynamics.
