Asia: Mechanical Wood Pulp Market 2024

Mechanical Wood Pulp Market Size in Asia

The Asian mechanical wood pulp market reduced slightly to $X in 2022, approximately mirroring the previous year. Over the period under review, consumption showed a pronounced reduction. The most prominent rate of growth was recorded in 2021 with an increase of 1.2% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Mechanical Wood Pulp Production in Asia

In value terms, mechanical wood pulp production expanded modestly to $X in 2022 estimated in export price. Overall, production showed a mild setback. The pace of growth appeared the most rapid in 2020 when the production volume increased by 7.5%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Mechanical Wood Pulp Exports

Exports in Asia

In 2022, shipments abroad of mechanical wood pulp decreased by -22.3% to X tons, falling for the second consecutive year after two years of growth. Overall, exports recorded a noticeable decline. The most prominent rate of growth was recorded in 2013 with an increase of 193% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, mechanical wood pulp exports amounted to $X in 2022. Over the period under review, exports, however, continue to indicate moderate growth. The growth pace was the most rapid in 2013 when exports increased by 176%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Taiwan (Chinese) represented the largest exporter of mechanical wood pulp in Asia, with the volume of exports finishing at X tons, which was near 49% of total exports in 2022. China (X tons) took a 24% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (14%) and Malaysia (4.5%). The following exporters - Thailand (X tons), Georgia (X tons) and Vietnam (X tons) - each accounted for a 5.4% share of total exports.

Taiwan (Chinese) was also the fastest-growing in terms of the mechanical wood pulp exports, with a CAGR of +75.5% from 2012 to 2022. At the same time, Malaysia (+26.4%), Turkey (+14.6%), Vietnam (+10.4%) and China (+3.4%) displayed positive paces of growth. Georgia and Thailand experienced a relatively flat trend pattern. Taiwan (Chinese) (+49 p.p.), Turkey (+12 p.p.), China (+11 p.p.), Malaysia (+4.2 p.p.) and Georgia (+1.9 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, the largest mechanical wood pulp supplying countries in Asia were China ($X), Taiwan (Chinese) ($X) and Turkey ($X), together comprising 87% of total exports.

Taiwan (Chinese), with a CAGR of +64.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, picking up by 46% against the previous year. In general, the export price showed a strong increase. The pace of growth was the most pronounced in 2021 an increase of 47% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

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 Thailand ($X per ton), while Georgia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+19.8%), while the other leaders experienced mixed trends in the export price figures.

Mechanical Wood Pulp Imports

Imports in Asia

In 2022, the amount of mechanical wood pulp imported in Asia declined notably to X tons, with a decrease of -25.4% against the previous year. In general, imports faced a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 22%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, mechanical wood pulp imports shrank to $X in 2022. Overall, imports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when imports increased by 22% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X tons) was the key importer of mechanical wood pulp, mixing up 41% of total imports. It was distantly followed by Turkey (X tons), Pakistan (X tons), Saudi Arabia (X tons) and China (X tons), together committing a 47% share of total imports. The following importers - Japan (X tons) and India (X tons) - together made up 6.7% of total imports.

From 2012 to 2022, average annual rates of growth with regard to mechanical wood pulp imports into Indonesia stood at -14.8%. At the same time, Turkey (+58.6%), Pakistan (+13.8%) and India (+10.3%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in Asia, with a CAGR of +58.6% from 2012-2022. Saudi Arabia experienced a relatively flat trend pattern. By contrast, China (-6.2%) and Japan (-31.5%) illustrated a downward trend over the same period. Turkey (+18 p.p.), Pakistan (+14 p.p.), Saudi Arabia (+6.2 p.p.), China (+2.9 p.p.) and India (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia and Japan saw its share reduced by -9.1% and -36.4% from 2012 to 2022, respectively.

In value terms, the largest mechanical wood pulp importing markets in Asia were Indonesia ($X), Pakistan ($X) and Turkey ($X), together accounting for 72% of total imports.

In terms of the main importing countries, Turkey, with a CAGR of +59.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, increasing by 23% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Pakistan ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+4.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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