Asia: Industrial Roundwood Market 2024

Industrial Roundwood Market Size in Asia

In 2022, after six years of growth, there was decline in the Asian industrial roundwood market, when its value decreased by -2% to $X. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then fell in the following year.

Industrial Roundwood Production in Asia

In value terms, industrial roundwood production reduced slightly to $X in 2022 estimated in export price. In general, production, however, posted significant growth. The pace of growth was the most pronounced in 2019 when the production volume increased by 1,361% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Industrial Roundwood Exports

Exports in Asia

In 2022, the amount of industrial roundwood exported in Asia fell sharply to X cubic meters, with a decrease of -35.2% against the previous year. Over the period under review, exports continue to indicate a sharp decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 0.9%. Over the period under review, the exports attained the peak figure at X cubic meters in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, industrial roundwood exports reduced rapidly to $X in 2022. Overall, exports faced a abrupt descent. The growth pace was the most rapid in 2021 with an increase of 45%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Japan (X cubic meters) represented the main exporter of industrial roundwood, constituting 60% of total exports. Malaysia (X cubic meters) ranks second in terms of the total exports with a 21% share, followed by Kyrgyzstan (5%). Cambodia (X cubic meters), India (X cubic meters) and Lao People's Democratic Republic (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to industrial roundwood exports from Japan stood at +14.9%. At the same time, Kyrgyzstan (+125.6%), India (+10.3%) and Cambodia (+4.4%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +125.6% from 2012-2022. Lao People's Democratic Republic experienced a relatively flat trend pattern. By contrast, Malaysia (-13.9%) illustrated a downward trend over the same period. Japan (+59 p.p.), Malaysia (+12 p.p.), Kyrgyzstan (+5 p.p.), Cambodia (+2.4 p.p.) and India (+1.7 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, Malaysia ($X), Japan ($X) and Lao People's Democratic Republic ($X) were the countries with the highest levels of exports in 2022, together accounting for 85% of total exports. Cambodia, India and Kyrgyzstan lagged somewhat behind, together comprising a further 5.8%.

In terms of the main exporting countries, Kyrgyzstan, with a CAGR of +89.7%, saw 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 cubic meter in 2022, picking up by 18% against the previous year. Export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial roundwood export price increased by +75.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 49% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

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 Lao People's Democratic Republic ($X per cubic meter), while Kyrgyzstan ($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 Lao People's Democratic Republic (+23.8%), while the other leaders experienced more modest paces of growth.

Industrial Roundwood Imports

Imports in Asia

Industrial roundwood imports shrank notably to X cubic meters in 2022, waning by -31.7% against 2021. In general, imports saw a pronounced decrease. The most prominent rate of growth was recorded in 2013 when imports increased by 16% against the previous year. Over the period under review, imports hit record highs at X cubic meters in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, industrial roundwood imports dropped rapidly to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 30% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China dominates imports structure, finishing at X cubic meters, which was near 74% of total imports in 2022. Japan (X cubic meters) ranks second in terms of the total imports with a 9% share, followed by India (6.3%) and South Korea (5.1%). Vietnam (X cubic meters) took a relatively small share of total imports.

Imports into China decreased at an average annual rate of -1.2% from 2012 to 2022. At the same time, Vietnam (+7.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia, with a CAGR of +7.7% from 2012-2022. India experienced a relatively flat trend pattern. By contrast, Japan (-4.4%) and South Korea (-8.8%) illustrated a downward trend over the same period. China (+6 p.p.) and Vietnam (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Japan and South Korea saw its share reduced by -2.4% and -5.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported industrial roundwood in Asia, comprising 73% of total imports. The second position in the ranking was taken by Japan ($X), with an 8.9% share of total imports. It was followed by India, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +1.4%. In the other countries, the average annual rates were as follows: Japan (-1.4% per year) and India (-9.3% per year).

Import Prices by Country

The import price in Asia stood at $X per cubic meter in 2022, increasing by 21% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Vietnam ($X per cubic meter) and India ($X per cubic meter), while South Korea ($X per cubic meter) and Japan ($X per cubic meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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