ASEAN: Market for Saw Logs And Veneer Logs (Coniferous) 2024

Market Size for Saw Logs And Veneer Logs (Coniferous) in ASEAN

After two years of growth, the ASEAN market for saw logs and veneer logs (coniferous) decreased by -8.9% to $X in 2021. The total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.5% against 2017 indices. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Production of Saw Logs And Veneer Logs (Coniferous) in ASEAN

In value terms, production of saw logs and veneer logs (coniferous) dropped to $X in 2021 estimated in export price. In general, production, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2017 when the production volume increased by 76%. As a result, production attained the peak level of $X. From 2018 to 2021, production of growth remained at a lower figure.

Exports of Saw Logs And Veneer Logs (Coniferous)

Exports in ASEAN

For the third consecutive year, ASEAN recorded growth in shipments abroad of saw logs and veneer logs (coniferous), which increased by 161% to X cubic meters in 2021. Overall, exports, however, continue to indicate a abrupt descent. The volume of export peaked at X cubic meters in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, exports of saw logs and veneer logs (coniferous) surged to $X in 2021. In general, exports, however, recorded a abrupt contraction. Over the period under review, the exports of hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Singapore dominates (coniferous) structure, resulting at X cubic meters, which was approx. 85% of total exports in 2021. It was distantly followed by Malaysia (X cubic meters), comprising a 9.9% share of total exports. Indonesia (X cubic meters) held a relatively small share of total exports.

Singapore was also the fastest-growing in terms of the saw logs and veneer logs (coniferous) exports, with a CAGR of +70.0% from 2012 to 2021. At the same time, Indonesia (+35.6%) displayed positive paces of growth. By contrast, Malaysia (-24.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Singapore and Indonesia increased by +85 and +2.9 percentage points, respectively.

In value terms, Singapore ($X) remains the largest saw logs and veneer logs (coniferous) supplier in ASEAN, comprising 78% of total exports. The second position in the ranking was held by Malaysia ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Singapore totaled +71.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-21.9% per year) and Indonesia (+22.4% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per cubic meter, picking up by 12% against the previous year. Over the period under review, the export price recorded a modest expansion. The pace of growth was the most pronounced in 2017 when the export price increased by 138%. As a result, the export price reached the peak level of $X per cubic meter. From 2018 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Indonesia ($X per cubic meter), while Singapore ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+3.2%), while the other leaders experienced mixed trends in the export price figures.

Imports of Saw Logs And Veneer Logs (Coniferous)

Imports in ASEAN

In 2021, after four years of growth, there was significant decline in overseas purchases of saw logs and veneer logs (coniferous), when their volume decreased by -19.5% to X cubic meters. Overall, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 when imports increased by 80%. As a result, imports attained the peak of X cubic meters, and then dropped markedly in the following year.

In value terms, imports of saw logs and veneer logs (coniferous) soared to $X in 2021. In general, imports, however, showed a strong expansion. The growth pace was the most rapid in 2020 with an increase of 113% against the previous year. The level of import peaked in 2021 and is likely to continue growth in the near future.

Imports by Country

Vietnam prevails in (coniferous) structure, finishing at X cubic meters, which was approx. 88% of total imports in 2021. It was distantly followed by Malaysia (X cubic meters), constituting a 5.1% share of total imports. The following importers - Thailand (X cubic meters), the Philippines (X cubic meters) and Indonesia (X cubic meters) - each resulted at a 6.2% share of total imports.

Imports into Vietnam increased at an average annual rate of +13.6% from 2012 to 2021. At the same time, the Philippines (+49.4%) and Malaysia (+17.3%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +49.4% from 2012-2021. By contrast, Indonesia (-6.8%) and Thailand (-20.5%) illustrated a downward trend over the same period. While the share of Vietnam (+41 p.p.), Malaysia (+3 p.p.) and the Philippines (+2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Indonesia (-3.8 p.p.) and Thailand (-30.3 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) constitutes the largest market for imported saw logs and veneer logs (coniferous) in ASEAN, comprising 87% of total imports. The second position in the ranking was held by Malaysia ($X), with a 6% share of total imports. It was followed by Thailand, with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Vietnam stood at +13.0%. In the other countries, the average annual rates were as follows: Malaysia (+27.2% per year) and Thailand (-16.8% per year).

Import Prices by Country

The import price in ASEAN stood at $X per cubic meter in 2021, growing by 64% against the previous year. Import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for saw logs and veneer logs (coniferous) increased by +94.7% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Thailand ($X per cubic meter), while the Philippines ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform