Asia-Pacific: Mechanical Wood Pulp Market 2024

Mechanical Wood Pulp Market Size in Asia-Pacific

The Asia-Pacific mechanical wood pulp market dropped slightly to $X in 2022, reducing by -1.6% against the previous year. Over the period under review, consumption showed a noticeable shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 3.2%. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Mechanical Wood Pulp Production in Asia-Pacific

In value terms, mechanical wood pulp production rose slightly to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 138% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Mechanical Wood Pulp Exports

Exports in Asia-Pacific

In 2022, shipments abroad of mechanical wood pulp increased by 39% to X tons, rising for the second consecutive year after three years of decline. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.5% 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 +51.9% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, mechanical wood pulp exports surged to $X in 2022. Over the period under review, exports enjoyed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the one major exporters of mechanical wood pulp, namely New Zealand, represented more than two-thirds of total export.

New Zealand was also the fastest-growing in terms of the mechanical wood pulp exports, with a CAGR of +7.6% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, New Zealand ($X) also remains the largest mechanical wood pulp supplier in Asia-Pacific.

In New Zealand, mechanical wood pulp exports increased at an average annual rate of +10.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, with an increase of 23% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The pace of growth was the most pronounced in 2018 an increase of 26%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for New Zealand.

From 2012 to 2022, the rate of growth in terms of prices for New Zealand amounted to +3.1% per year.

Mechanical Wood Pulp Imports

Imports in Asia-Pacific

In 2022, mechanical wood pulp imports in Asia-Pacific fell rapidly to X tons, with a decrease of -32.2% on the previous year's figure. Overall, imports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2020 when imports increased by 27%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, mechanical wood pulp imports shrank sharply to $X in 2022. In general, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 31%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Indonesia represented the key importing country with an import of around X tons, which accounted for 54% of total imports. It was distantly followed by Pakistan (X tons), China (X tons) and Japan (X tons), together comprising a 32% share of total imports. The following importers - India (X tons), Australia (X tons) and Hong Kong SAR (X tons) - together made up 9.2% of total imports.

Imports into Indonesia decreased at an average annual rate of -14.8% from 2012 to 2022. At the same time, Pakistan (+13.8%), India (+10.3%) and Australia (+7.8%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +13.8% from 2012-2022. By contrast, Hong Kong SAR (-4.1%), China (-6.2%) and Japan (-31.5%) illustrated a downward trend over the same period. While the share of Pakistan (+19 p.p.), China (+4.6 p.p.), India (+3.7 p.p.), Indonesia (+3.3 p.p.), Australia (+2.6 p.p.) and Hong Kong SAR (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Japan (-35.9 p.p.) displayed negative dynamics.

In value terms, the largest mechanical wood pulp importing markets in Asia-Pacific were Indonesia ($X), Pakistan ($X) and China ($X), with a combined 79% share of total imports. Japan, India, Australia and Hong Kong SAR lagged somewhat behind, together comprising a further 15%.

Australia, with a CAGR of +13.6%, 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 2022, the import price in Asia-Pacific amounted to $X per ton, picking up by 22% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Australia ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+5.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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