ASEAN: Wood Fuel Market 2025

Wood Fuel Market Size in ASEAN

The ASEAN wood fuel market amounted to $X in 2022, remaining constant against the previous year. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Wood Fuel Production in ASEAN

In value terms, wood fuel production expanded to $X in 2022 estimated in export price. Over the period under review, production, however, saw a slight contraction. The pace of growth appeared the most rapid in 2016 with an increase of 58%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Wood Fuel Exports

Exports in ASEAN

In 2022, shipments abroad of wood fuel increased by 187% to X cubic meters, rising for the second year in a row after two years of decline. Overall, exports recorded a relatively flat trend pattern. The volume of export peaked at X cubic meters in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, wood fuel exports surged to $X in 2022. In general, exports continue to indicate notable growth. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Vietnam (X cubic meters) represented the key exporter of wood fuel, comprising 85% of total exports. It was distantly followed by Indonesia (X cubic meters), committing a 13% share of total exports.

Exports from Vietnam increased at an average annual rate of +27.0% from 2012 to 2022. At the same time, Indonesia (+31.4%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +31.4% from 2012-2022. Vietnam (+76 p.p.) and Indonesia (+12 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest wood fuel supplier in ASEAN, comprising 69% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 28% share of total exports.

In Vietnam, wood fuel exports increased at an average annual rate of +28.7% over the period from 2012-2022.

Export Prices by Country

The export price in ASEAN stood at $X per cubic meter in 2022, rising by 3.7% against the previous year. Export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood fuel export price decreased by -0.3% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the export price increased by 39%. Over the period under review, the export prices attained the maximum at $X per cubic meter in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per cubic meter), while Vietnam stood at $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+2.7%).

Wood Fuel Imports

Imports in ASEAN

In 2022, overseas purchases of wood fuel increased by 430% to X cubic meters for the first time since 2018, thus ending a three-year declining trend. In general, imports continue to indicate pronounced growth. Over the period under review, imports reached the peak figure at X cubic meters in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, wood fuel imports surged to $X in 2022. Over the period under review, imports saw a resilient expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 407% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Vietnam was the major importing country with an import of around X cubic meters, which reached 85% of total imports. It was distantly followed by Singapore (X cubic meters), creating a 12% share of total imports. Thailand (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to wood fuel imports into Vietnam stood at +2.3%. At the same time, Thailand (+24.8%) and Singapore (+15.2%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +24.8% from 2012-2022. Singapore (+8.1 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported wood fuel in ASEAN, comprising 67% of total imports. The second position in the ranking was taken by Singapore ($X), with a 25% share of total imports.

In Vietnam, wood fuel imports increased at an average annual rate of +10.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Singapore (+20.4% per year) and Thailand (+19.0% per year).

Import Prices by Country

The import price in ASEAN stood at $X per cubic meter in 2022, declining by -38.3% against the previous year. In general, the import price, however, showed a prominent expansion. The pace of growth was the most pronounced in 2019 when the import price increased by 89%. The level of import peaked at $X per cubic meter in 2021, and then fell markedly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per cubic meter), while Vietnam ($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 Vietnam (+7.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform