ASEAN: Market for Wood Residues, Pellets And Other Agglomerates 2025

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

In 2021, the ASEAN market for wood residues, pellets and other agglomerates was finally on the rise to reach $X after two years of decline. In general, consumption showed a significant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Wood Residues, Pellets And Other Agglomerates in ASEAN

In value terms, production of wood residues, pellets and other agglomerates rose to $X in 2021 estimated in export price. In general, production showed significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 127% against the previous year. Over the period under review, production of reached the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Wood Residues, Pellets And Other Agglomerates

Exports in ASEAN

After five years of growth, shipments abroad of wood residues, pellets and other agglomerates decreased by -12% to X cubic meters in 2021. Over the period under review, exports, however, posted significant growth. The pace of growth was the most pronounced in 2014 when exports increased by 124% against the previous year. Over the period under review, the exports of hit record highs at X cubic meters in 2020, and then dropped in the following year.

In value terms, exports of wood residues, pellets and other agglomerates rose significantly to $X in 2021. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 117%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Vietnam (X cubic meters) represented the main exporter of wood residues, pellets and other agglomerates, committing 74% of total exports. Malaysia (X cubic meters) took the second position in the ranking, followed by Indonesia (X cubic meters). All these countries together took approx. 25% share of total exports.

Vietnam was also the fastest-growing in terms of the wood residues, pellets and other agglomerates exports, with a CAGR of +38.5% from 2012 to 2021. At the same time, Indonesia (+24.5%) and Malaysia (+14.0%) displayed positive paces of growth. While the share of Vietnam (+36 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Indonesia (-3.4 p.p.) and Malaysia (-29.7 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) remains the largest wood residues, pellets and other agglomerates supplier in ASEAN, comprising 78% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 13% share of total exports.

In Vietnam, exports of wood residues, pellets and other agglomerates expanded at an average annual rate of +40.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+4.5% per year) and Indonesia (+19.6% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per cubic meter, rising by 20% against the previous year. Over the period under review, the export price, however, showed a perceptible decline. The level of export peaked at $X per cubic meter in 2012; however, from 2013 to 2021, the export prices stood at a somewhat 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 Vietnam ($X per cubic meter), while Indonesia ($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 Vietnam (+1.5%), while the other leaders experienced a decline in the export price figures.

Imports of Wood Residues, Pellets And Other Agglomerates

Imports in ASEAN

In 2021, overseas purchases of wood residues, pellets and other agglomerates increased by 83% to X cubic meters for the first time since 2018, thus ending a two-year declining trend. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 121%. As a result, imports reached the peak of X cubic meters. From 2015 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of wood residues, pellets and other agglomerates surged to $X in 2021. Total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 74% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

Thailand prevails in agglomerates structure, reaching X cubic meters, which was approx. 71% of total imports in 2021. Malaysia (X cubic meters) took the second position in the ranking, followed by Singapore (X cubic meters). All these countries together held near 16% share of total imports. The following importers - Cambodia (X cubic meters) and Vietnam (X cubic meters) - each reached an 8.6% share of total imports.

Thailand experienced a relatively flat trend pattern with regard to volume of imports of wood residues, pellets and other agglomerates. At the same time, Cambodia (+73.1%), Singapore (+8.4%) and Vietnam (+6.3%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +73.1% from 2012-2021. Malaysia experienced a relatively flat trend pattern. From 2012 to 2021, the share of Cambodia, Singapore and Vietnam increased by +4.3, +3.8 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wood residues, pellets and other agglomerates importing markets in ASEAN were Thailand ($X), Singapore ($X) and Malaysia ($X), together accounting for 73% of total imports. Cambodia and Vietnam lagged somewhat behind, together comprising a further 11%.

Cambodia, with a CAGR of +76.6%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per cubic meter, dropping by -6.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2013 when the import price increased by 36% against the previous year. As a result, import price attained the peak level of $X per cubic meter. From 2014 to 2021, the 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 Cambodia (+2.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform