ASEAN: Densified Wood Market 2025

Densified Wood Market Size in ASEAN

The ASEAN densified wood market fell to $X in 2022, waning by -4.1% against the previous year. Overall, consumption showed a slight downturn. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Densified Wood Production in ASEAN

In value terms, densified wood production declined to $X in 2022 estimated in export price. Overall, production recorded a mild decline. The most prominent rate of growth was recorded in 2013 with an increase of 19%. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Densified Wood Exports

Exports in ASEAN

Densified wood exports declined dramatically to X tons in 2022, dropping by -41.4% compared with 2021 figures. Overall, exports continue to indicate a slight decrease. The pace of growth was the most pronounced in 2021 with an increase of 75% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, densified wood exports declined rapidly to $X in 2022. In general, exports, however, saw buoyant growth. The pace of growth was the most pronounced in 2014 when exports increased by 116%. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons) and Vietnam (X tons) prevails in exports structure, together committing 90% of total exports. It was distantly followed by Singapore (X tons), constituting a 4.8% share of total exports. Indonesia (X tons) and Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +29.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Malaysia ($X) and Singapore ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 95% share of total exports.

Vietnam, with a CAGR of +35.2%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, growing by 41% against the previous year. Overall, the export price posted a prominent expansion. The pace of growth was the most pronounced in 2019 when the export price increased by 47%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+14.7%), while the other leaders experienced more modest paces of growth.

Densified Wood Imports

Imports in ASEAN

In 2022, after two years of growth, there was decline in purchases abroad of densified wood, when their volume decreased by -1.7% to X tons. Over the period under review, imports saw a slight decline. The pace of growth was the most pronounced in 2017 with an increase of 144% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, densified wood imports expanded markedly to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 72% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Vietnam was the main importing country with an import of around X tons, which finished at 42% of total imports. Thailand (X tons) took the second position in the ranking, followed by Singapore (X tons), Cambodia (X tons), the Philippines (X tons), Indonesia (X tons) and Malaysia (X tons). All these countries together took near 58% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to densified wood imports into Vietnam stood at +28.6%. At the same time, Cambodia (+60.7%) and Thailand (+1.2%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +60.7% from 2012-2022. By contrast, Singapore (-3.3%), Indonesia (-4.8%), Malaysia (-13.5%) and the Philippines (-17.2%) illustrated a downward trend over the same period. While the share of Vietnam (+39 p.p.), Cambodia (+12 p.p.) and Thailand (+3.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Indonesia (-2.4 p.p.), Singapore (-2.6 p.p.), Malaysia (-12.9 p.p.) and the Philippines (-36.6 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X), Thailand ($X) and Singapore ($X) were the countries with the highest levels of imports in 2022, together comprising 83% of total imports. Cambodia, Indonesia, the Philippines and Malaysia lagged somewhat behind, together accounting for a further 16%.

Among the main importing countries, Cambodia, with a CAGR of +62.6%, 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

In 2022, the import price in ASEAN amounted to $X per ton, growing by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2018 when the import price increased by 51% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+7.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform