ASEAN: Wood Milling Machine Market 2024

Wood Milling Machine Market Size in ASEAN

For the fifth consecutive year, the ASEAN wood milling machine market recorded growth in sales value, which increased by 632% to $X in 2021. In general, consumption enjoyed a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Wood Milling Machine Production in ASEAN

In value terms, wood milling machine production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production posted significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 868% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Wood Milling Machine Exports

Exports in ASEAN

In 2021, overseas shipments of planing, milling or moulding machines decreased by -96.3% to X units, falling for the second consecutive year after two years of growth. In general, exports recorded a slight decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 438%. Over the period under review, the exports attained the peak figure at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, wood milling machine exports surged to $X in 2021. Over the period under review, exports continue to indicate a mild downturn. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Singapore (X units) and Thailand (X units) represented the main exporters of planing, milling or moulding machines in ASEAN, together accounting for near 81% of total exports. Indonesia (X units) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (6.4%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Singapore (with a CAGR of +16.0%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Singapore ($X) remains the largest wood milling machine supplier in ASEAN, comprising 76% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 9% share of total exports. It was followed by Indonesia, with a 7.8% share.

In Singapore, wood milling machine exports increased at an average annual rate of +2.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (-13.4% per year) and Indonesia (+27.4% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, with an increase of 3,786% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the export prices attained the peak figure at $X per unit in 2012; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+12.4%), while the other leaders experienced mixed trends in the export price figures.

Wood Milling Machine Imports

Imports in ASEAN

In 2021, after two years of decline, there was significant growth in overseas purchases of planing, milling or moulding machines, when their volume increased by 48% to X units. In general, imports posted a prominent increase. The pace of growth appeared the most rapid in 2017 when imports increased by 56% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, wood milling machine imports fell rapidly to $X in 2021. The total import value increased at an average annual rate of +1.6% 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 2019 when imports increased by 22%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Thailand was the largest importer of planing, milling or moulding machines in ASEAN, with the volume of imports finishing at X units, which was near 71% of total imports in 2021. It was distantly followed by Indonesia (X units), Vietnam (X units) and the Philippines (X units), together constituting a 26% share of total imports. Singapore (X units) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to wood milling machine imports into Thailand stood at +11.7%. At the same time, the Philippines (+24.4%), Singapore (+13.6%), Indonesia (+12.0%) and Vietnam (+5.4%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +24.4% from 2012-2021. While the share of Thailand (+4.9 p.p.) and the Philippines (+3.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Vietnam (-4.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported planing, milling or moulding machines in ASEAN, comprising 48% of total imports. The second position in the ranking was held by Indonesia ($X), with an 18% share of total imports. It was followed by Thailand, with an 11% share.

In Vietnam, wood milling machine imports expanded at an average annual rate of +17.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Indonesia (+3.1% per year) and Thailand (-9.3% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per unit, reducing by -45% against the previous year. In general, the import price continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2019 an increase of 43%. The level of import peaked at $X per unit in 2015; however, from 2016 to 2021, 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 Vietnam ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+11.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform