Asia-Pacific: Industrial Roundwood (Coniferous) Market 2024

Industrial Roundwood (Coniferous) Market Size in Asia-Pacific

The Asia-Pacific industrial roundwood (coniferous) market reduced to $X in 2022, waning by -13.6% against the previous year. The market value increased at an average annual rate of +2.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2021, and then dropped in the following year.

Industrial Roundwood (Coniferous) Production in Asia-Pacific

In value terms, industrial roundwood (coniferous) production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by 19% against the previous year. The level of production peaked at $X in 2021, and then declined slightly in the following year.

Industrial Roundwood (Coniferous) Exports

Exports in Asia-Pacific

In 2022, the amount of industrial roundwood (coniferous) exported in Asia-Pacific contracted to X cubic meters, which is down by -14.6% on the year before. Total exports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -18.1% against 2017 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 24%. The volume of export peaked at X cubic meters in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, industrial roundwood (coniferous) exports rose significantly to $X in 2022. Total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +9.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +43.2% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 51% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

New Zealand prevails in exports structure, reaching X cubic meters, which was near 96% of total exports in 2022. Japan (X cubic meters) took a minor share of total exports.

Exports from New Zealand increased at an average annual rate of +4.8% from 2012 to 2022. At the same time, Japan (+15.2%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +15.2% from 2012-2022. While the share of New Zealand (+6.6 p.p.) and Japan (+2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, New Zealand ($X) remains the largest industrial roundwood (coniferous) supplier in Asia-Pacific, comprising 94% of total exports. The second position in the ranking was taken by Japan ($X), with a 4.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value in New Zealand totaled +9.8%.

Export Prices by Country

The export price in Asia-Pacific stood at $X per cubic meter in 2022, picking up by 29% against the previous year. Export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial roundwood (coniferous) export price increased by +67.2% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per cubic meter), while New Zealand totaled $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+8.5%).

Industrial Roundwood (Coniferous) Imports

Imports in Asia-Pacific

In 2022, overseas purchases of industrial roundwood (coniferous) decreased by -33.3% to X cubic meters for the first time since 2017, thus ending a four-year rising trend. Overall, imports showed a slight downturn. The most prominent rate of growth was recorded in 2013 with an increase of 24% against the previous year. The volume of import peaked at X cubic meters in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, industrial roundwood (coniferous) imports declined notably to $X in 2022. Total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.2% 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 +2.6% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 42%. Over the period under review, imports reached the peak figure at $X in 2021, and then declined remarkably in the following year.

Imports by Country

China represented the major importing country with an import of about X cubic meters, which reached 74% of total imports. Japan (X cubic meters) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by India (6.4%) and South Korea (6.3%).

From 2012 to 2022, average annual rates of growth with regard to industrial roundwood (coniferous) imports into China stood at -1.2%. At the same time, India (+61.4%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +61.4% from 2012-2022. By contrast, Japan (-4.4%) and South Korea (-8.9%) illustrated a downward trend over the same period. While the share of India (+6.3 p.p.) and China (+3.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Japan (-3.7 p.p.) and South Korea (-7.2 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported industrial roundwood (coniferous) in Asia-Pacific, comprising 67% of total imports. The second position in the ranking was held by Japan ($X), with a 16% share of total imports. It was followed by South Korea, with a 7.7% share.

In China, industrial roundwood (coniferous) imports increased at an average annual rate of +2.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-0.2% per year) and South Korea (-1.9% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per cubic meter in 2022, rising by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.0%. The most prominent rate of growth was recorded in 2018 an increase of 35% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to continue growth in years to come.

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 Japan ($X per cubic meter), while China ($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 South Korea (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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