ASEAN: Market for Wood Chips, Parts, Residues, Pellets And Other Agglomerates 2024

Market Size for Wood Chips, Parts, Residues, Pellets And Other Agglomerates in ASEAN

The ASEAN market for wood chips, parts, residues, pellets and other agglomerates fell sharply to $X in 2021, which is down by -51.8% against the previous year. Over the period under review, consumption showed a noticeable descent. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Wood Chips, Parts, Residues, Pellets And Other Agglomerates in ASEAN

In value terms, production of wood chips, parts, residues, pellets and other agglomerates totaled $X in 2021 estimated in export price. Over the period under review, production posted a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 101%. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Wood Chips, Parts, Residues, Pellets And Other Agglomerates

Exports in ASEAN

In 2021, approx. X cubic meters of wood chips, parts, residues, pellets and other agglomerates were exported in ASEAN; increasing by 12% against the previous year's figure. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +117.4% against 2016 indices. The pace of growth was the most pronounced in 2017 with an increase of 39% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, exports of wood chips, parts, residues, pellets and other agglomerates skyrocketed to $X in 2021. Total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +8.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +71.6% against 2016 indices. The growth pace was the most rapid in 2018 with an increase of 30%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

Vietnam dominates agglomerates structure, accounting for X cubic meters, which was near 78% of total exports in 2021. Thailand (X cubic meters) ranks second in terms of the total exports with a 9.1% share, followed by Indonesia (8%) and Malaysia (5.3%).

Vietnam was also the fastest-growing in terms of the wood chips, parts, residues, pellets and other agglomerates exports, with a CAGR of +11.7% from 2012 to 2021. At the same time, Malaysia (+10.3%) and Indonesia (+2.7%) displayed positive paces of growth. By contrast, Thailand (-5.3%) illustrated a downward trend over the same period. Vietnam (+23 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Thailand saw its share reduced by -4.1% and -19.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest wood chips, parts, residues, pellets and other agglomerates supplier in ASEAN, comprising 75% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 12% share of total exports. It was followed by Thailand, with an 8.2% share.

In Vietnam, exports of wood chips, parts, residues, pellets and other agglomerates increased at an average annual rate of +11.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+14.9% per year) and Thailand (-3.9% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per cubic meter, increasing by 5.8% against the previous year. Over the last nine years, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2016 when the export price increased by 26% against the previous year. As a result, the export price reached the peak level of $X per cubic meter. From 2017 to 2021, the export prices remained at a lower figure.

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 Malaysia ($X per cubic meter), while Indonesia ($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 (+4.2%), while the other leaders experienced mixed trends in the export price figures.

Imports of Wood Chips, Parts, Residues, Pellets And Other Agglomerates

Imports in ASEAN

In 2021, supplies from abroad of wood chips, parts, residues, pellets and other agglomerates decreased by -38.7% to X cubic meters, falling for the second consecutive year after two years of growth. Over the period under review, imports saw a perceptible curtailment. The growth pace was the most rapid in 2019 with an increase of 186%. As a result, imports reached the peak of X cubic meters. From 2020 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of wood chips, parts, residues, pellets and other agglomerates contracted notably to $X in 2021. In general, imports saw a abrupt setback. The growth pace was the most rapid in 2019 when imports increased by 91% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2021, Lao People's Democratic Republic (X cubic meters) was the major importer of wood chips, parts, residues, pellets and other agglomerates, constituting 50% of total imports. It was distantly followed by Thailand (X cubic meters) and Indonesia (X cubic meters), together achieving a 40% share of total imports. The following importers - Singapore (X cubic meters), Vietnam (X cubic meters) and Malaysia (X cubic meters) - together made up 8.1% of total imports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +16.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Lao People's Democratic Republic ($X) constitutes the largest market for imported wood chips, parts, residues, pellets and other agglomerates in ASEAN, comprising 47% of total imports. The second position in the ranking was taken by Thailand ($X), with an 18% share of total imports. It was followed by Singapore, with a 12% share.

In Lao People's Democratic Republic, imports of wood chips, parts, residues, pellets and other agglomerates declined by an average annual rate of -13.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (-5.4% per year) and Singapore (+6.2% per year).

Import Prices by Country

The import price in ASEAN stood at $X per cubic meter in 2021, which is down by -23.1% against the previous year. Over the period under review, the import price continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2015 when the import price increased by 33% against the previous year. The level of import peaked at $X per cubic meter in 2018; however, from 2019 to 2021, 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 Singapore ($X per cubic meter), while Thailand ($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 Thailand (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform