ASEAN: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in ASEAN

In 2021, the ASEAN machine-tool for working wood market decreased by -0.2% to $X, falling for the second consecutive year after three years of growth. The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Machine-Tools For Working Wood in ASEAN

In value terms, machine-tool for working wood production shrank slightly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a mild expansion. The pace of growth appeared the most rapid in 2016 with an increase of 114% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then fell modestly in the following year.

Exports of Machine-Tools For Working Wood

Exports in ASEAN

In 2021, overseas shipments of machine-tools for working wood decreased by -8.4% to X tons, falling for the fourth year in a row after two years of growth. Over the period under review, exports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2016 when exports increased by 27%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, machine-tool for working wood exports reduced to $X in 2021. In general, exports showed a abrupt descent. The growth pace was the most rapid in 2017 with an increase of 16%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) and Singapore (X tons) represented roughly 75% of total exports in 2021. Vietnam (X tons) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (8.9%) and Thailand (4.5%).

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +2.2%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest machine-tool for working wood supplying countries in ASEAN were Malaysia ($X), Singapore ($X) and Vietnam ($X), together accounting for 85% of total exports.

Vietnam, with a CAGR of +5.8%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, falling by -4.9% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the export price increased by 22%. The level of export peaked at $X per ton in 2020, and then dropped in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+7.8%), while the other leaders experienced more modest paces of growth.

Imports of Machine-Tools For Working Wood

Imports in ASEAN

In 2021, the amount of machine-tools for working wood imported in ASEAN rose rapidly to X tons, picking up by 6.3% against 2020 figures. The total import volume increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when imports increased by 21%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, machine-tool for working wood imports declined slightly to $X in 2021. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 20%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Vietnam (X tons) and Indonesia (X tons) were the largest importers of machine-tools for working wood in 2021, accounting for approx. 37% and 34% of total imports, respectively. Malaysia (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (5.6%). The Philippines (X tons), Singapore (X tons) and Cambodia (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +15.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) constitutes the largest market for imported machine-tools for working wood in ASEAN, comprising 42% of total imports. The second position in the ranking was held by Indonesia ($X), with a 16% share of total imports. It was followed by Malaysia, with a 15% share.

In Vietnam, machine-tool for working wood imports increased at an average annual rate of +16.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (+0.3% per year) and Malaysia (-6.2% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, which is down by -6.6% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by 17% against the previous year. The level of import peaked at $X per ton in 2020, and then dropped in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+9.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform