Asia: Densified Wood Market 2025

Densified Wood Market Size in Asia

The Asian densified wood market declined to $X in 2022, with a decrease of -5.9% against the previous year. Over the period under review, consumption recorded a noticeable decrease. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Densified Wood Production in Asia

In value terms, densified wood production dropped to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2021 when the production volume increased by 15% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Densified Wood Exports

Exports in Asia

In 2022, shipments abroad of densified wood decreased by -21.2% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by 52% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, densified wood exports reduced to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 45%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, China (X tons) was the major exporter of densified wood, comprising 43% of total exports. It was distantly followed by Malaysia (X tons), Vietnam (X tons) and Turkey (X tons), together mixing up a 39% share of total exports. Oman (X tons), the United Arab Emirates (X tons) and Sri Lanka (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to densified wood exports from China stood at +14.3%. At the same time, Oman (+38.4%), Vietnam (+29.5%), Sri Lanka (+18.5%) and the United Arab Emirates (+8.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in Asia, with a CAGR of +38.4% from 2012-2022. By contrast, Malaysia (-7.0%) and Turkey (-13.5%) illustrated a downward trend over the same period. While the share of China (+33 p.p.), Vietnam (+13 p.p.), Oman (+3.8 p.p.), Sri Lanka (+2.4 p.p.) and the United Arab Emirates (+2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (-13.2 p.p.) and Turkey (-31.9 p.p.) displayed negative dynamics.

In value terms, the largest densified wood supplying countries in Asia were China ($X), Vietnam ($X) and Malaysia ($X), with a combined 74% share of total exports.

Among the main exporting countries, Vietnam, with a CAGR of +35.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, picking up by 21% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2019 when the export price increased by 29%. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+14.7%), while the other leaders experienced mixed trends in the export price figures.

Densified Wood Imports

Imports in Asia

In 2022, imports of densified wood in Asia contracted to X tons, dropping by -12% against 2021 figures. In general, imports, however, posted a buoyant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 95% against the previous year. As a result, imports reached the peak of X tons, and then reduced in the following year.

In value terms, densified wood imports dropped to $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.6% against 2016 indices. The pace of growth appeared the most rapid in 2021 with an increase of 47% against the previous year. As a result, imports attained the peak of $X, and then fell slightly in the following year.

Imports by Country

Iran (X tons) and Saudi Arabia (X tons) were the key importers of densified wood in 2022, recording approx. 32% and 31% of total imports, respectively. It was distantly followed by Kazakhstan (X tons), making up an 11% share of total imports. Qatar (X tons), Bahrain (X tons), Vietnam (X tons), China (X tons), Kuwait (X tons) and India (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Kazakhstan (with a CAGR of +43.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Iran ($X) constitutes the largest market for imported densified wood in Asia, comprising 41% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 14% share of total imports. It was followed by Kazakhstan, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value in Iran amounted to +19.5%. In the other countries, the average annual rates were as follows: Saudi Arabia (+24.8% per year) and Kazakhstan (+36.6% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, growing by 11% against the previous year. Over the period under review, the import price, however, showed a mild shrinkage. The pace of growth was the most pronounced in 2018 when the import price increased by 12%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+1.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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