ASEAN: Articles Of Peat Market 2024

Articles Of Peat Market Size in ASEAN

The ASEAN articles of peat market shrank sharply to $X in 2022, dropping by -24.6% against the previous year. Overall, consumption showed a significant increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Articles Of Peat Production in ASEAN

In value terms, articles of peat production rose sharply to $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 -7.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 40%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Articles Of Peat Exports

Exports in ASEAN

After five years of growth, shipments abroad of articles of peat decreased by -5% to X tons in 2022. Total exports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +76.3% against 2016 indices. The pace of growth was the most pronounced in 2017 when exports increased by 18%. The volume of export peaked at X tons in 2021, and then contracted in the following year.

In value terms, articles of peat exports reached $X in 2022. In general, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2014 when exports increased by 76% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia dominates exports structure, accounting for X tons, which was near 93% of total exports in 2022. It was distantly followed by Vietnam (X tons), generating a 6.5% share of total exports.

Indonesia was also the fastest-growing in terms of the articles of peat exports, with a CAGR of +2.4% from 2012 to 2022. Vietnam experienced a relatively flat trend pattern. While the share of Indonesia (+2.9 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest articles of peat supplier in ASEAN, comprising 83% of total exports. The second position in the ranking was held by Vietnam ($X), with a 1.6% share of total exports.

In Indonesia, articles of peat exports expanded at an average annual rate of +7.4% over the period from 2012-2022.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, growing by 6.5% against the previous year. In general, the export price enjoyed a resilient increase. The pace of growth was the most pronounced in 2016 when the export price increased by 109% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Vietnam totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.9%).

Articles Of Peat Imports

Imports in ASEAN

In 2022, imports of articles of peat in ASEAN contracted to X tons, declining by -8.9% on the previous year's figure. Over the period under review, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 39%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, articles of peat imports soared to $X in 2022. Overall, imports recorded a abrupt slump. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Malaysia (X tons) and Vietnam (X tons) were the key importers of articles of peat in ASEAN, together generating 65% of total imports. Singapore (X tons) ranks next in terms of the total imports with a 17% share, followed by Myanmar (9.6%) and Indonesia (7.9%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Myanmar (with a CAGR of +97.2%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest articles of peat importing markets in ASEAN were Vietnam ($X), Singapore ($X) and Malaysia ($X), together accounting for 89% of total imports. Indonesia and Myanmar lagged somewhat behind, together accounting for a further 7.1%.

Among the main importing countries, Myanmar, with a CAGR of +43.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, jumping by 89% against the previous year. Overall, the import price, however, continues to indicate a perceptible decline. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform