ASEAN: Industrial Roundwood Market 2024

Industrial Roundwood Market Size in ASEAN

In 2022, the ASEAN industrial roundwood market decreased by -0.9% to $X for the first time since 2015, thus ending a six-year rising trend. The market value increased at an average annual rate of +3.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2021, and then reduced in the following year.

Industrial Roundwood Production in ASEAN

In value terms, industrial roundwood production dropped to $X in 2022 estimated in export price. Overall, production, however, showed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 3,619% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Industrial Roundwood Exports

Exports in ASEAN

In 2022, exports of industrial roundwood in ASEAN declined rapidly to X cubic meters, waning by -44.4% against 2021. Overall, exports recorded a sharp decline. The growth pace was the most rapid in 2021 with an increase of 8% against the previous year. Over the period under review, the exports attained the peak figure at X cubic meters in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, industrial roundwood exports declined significantly to $X in 2022. In general, exports showed a precipitous descent. The pace of growth was the most pronounced in 2021 with an increase of 56% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia prevails in exports structure, finishing at X cubic meters, which was approx. 72% of total exports in 2022. Cambodia (X cubic meters) held the second position in the ranking, followed by Lao People's Democratic Republic (X cubic meters) and Myanmar (X cubic meters). All these countries together held near 19% share of total exports. Vietnam (X cubic meters), Thailand (X cubic meters) and Indonesia (X cubic meters) held a minor share of total exports.

Exports from Malaysia decreased at an average annual rate of -13.9% from 2012 to 2022. At the same time, Indonesia (+46.4%), Thailand (+18.0%) and Cambodia (+4.4%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +46.4% from 2012-2022. Lao People's Democratic Republic experienced a relatively flat trend pattern. By contrast, Vietnam (-25.3%) and Myanmar (-47.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia, Cambodia, Lao People's Democratic Republic, Thailand, Indonesia and Vietnam increased by +63, +8.7, +5.5, +2.5, +1.9 and +1.7 percentage points, respectively.

In value terms, Malaysia ($X) remains the largest industrial roundwood supplier in ASEAN, comprising 74% of total exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a 12% share of total exports. It was followed by Cambodia, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Malaysia amounted to -10.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+23.6% per year) and Cambodia (-3.3% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per cubic meter, rising by 41% against the previous year. In general, the export price saw strong growth. The growth pace was the most rapid in 2017 when the export price increased by 45%. The level of export peaked 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 Lao People's Democratic Republic ($X per cubic meter), while Vietnam ($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 Lao People's Democratic Republic (+23.8%), while the other leaders experienced more modest paces of growth.

Industrial Roundwood Imports

Imports in ASEAN

In 2022, after two years of decline, there was significant growth in purchases abroad of industrial roundwood, when their volume increased by 16% to X cubic meters. Over the period under review, imports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 80% against the previous year. The volume of import peaked at X cubic meters in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, industrial roundwood imports shrank slightly to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 25% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Vietnam was the major importer of industrial roundwood in ASEAN, with the volume of imports resulting at X cubic meters, which was approx. 73% of total imports in 2022. Malaysia (X cubic meters) held the second position in the ranking, distantly followed by Indonesia (X cubic meters). All these countries together held near 23% share of total imports. Cambodia (X cubic meters) took a little share of total imports.

Imports into Vietnam increased at an average annual rate of +7.7% from 2012 to 2022. At the same time, Cambodia (+91.7%) and Malaysia (+22.2%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +91.7% from 2012-2022. Indonesia experienced a relatively flat trend pattern. While the share of Malaysia (+13 p.p.), Vietnam (+5.2 p.p.) and Cambodia (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Indonesia (-4.5 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) constitutes the largest market for imported industrial roundwood in ASEAN, comprising 81% of total imports. The second position in the ranking was held by Malaysia ($X), with a 9.3% share of total imports. It was followed by Indonesia, with a 4.8% share.

In Vietnam, industrial roundwood imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+13.0% per year) and Indonesia (+4.1% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per cubic meter, dropping by -18.2% against the previous year. Over the period under review, the import price saw a abrupt decrease. The most prominent rate of growth was recorded in 2016 when the import price increased by 26%. As a result, import price reached the peak level of $X per cubic meter. From 2017 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cambodia ($X per cubic meter), while Malaysia ($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 Indonesia (+3.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform