Asia-Pacific: Market for Wood Residues, Pellets And Other Agglomerates 2024

Market Size for Wood Residues, Pellets And Other Agglomerates in Asia-Pacific

The Asia-Pacific market for wood residues, pellets and other agglomerates skyrocketed to $X in 2021, rising by 39% against the previous year. Overall, consumption posted a significant expansion. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Production of Wood Residues, Pellets And Other Agglomerates in Asia-Pacific

In value terms, production of wood residues, pellets and other agglomerates reduced to $X in 2021 estimated in export price. In general, production continues to indicate a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 77%. Over the period under review, production of reached the maximum level at $X in 2018; afterwards, it flattened through to 2021.

Exports of Wood Residues, Pellets And Other Agglomerates

Exports in Asia-Pacific

In 2021, shipments abroad of wood residues, pellets and other agglomerates decreased by -11.5% to X cubic meters for the first time since 2015, thus ending a five-year rising trend. Over the period under review, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 150%. The volume of export peaked at X cubic meters in 2020, and then reduced in the following year.

In value terms, exports of wood residues, pellets and other agglomerates amounted to $X in 2021. Overall, exports, however, showed a significant increase. The growth pace was the most rapid in 2014 when exports increased by 139%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Vietnam was the largest exporter of wood residues, pellets and other agglomerates in Asia-Pacific, with the volume of exports finishing at X cubic meters, which was near 72% of total exports in 2021. Malaysia (X cubic meters) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (9.4%). Australia (X cubic meters) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the wood residues, pellets and other agglomerates exports, with a CAGR of +38.5% from 2012 to 2021. At the same time, Australia (+28.2%), Indonesia (+24.5%) and Malaysia (+14.0%) displayed positive paces of growth. While the share of Vietnam (+38 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Indonesia (-2.1 p.p.) and Malaysia (-24.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest wood residues, pellets and other agglomerates supplier in Asia-Pacific, comprising 74% of total exports. The second position in the ranking was held by Malaysia ($X), with a 13% share of total exports. It was followed by Indonesia, with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Vietnam amounted to +40.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+4.5% per year) and Indonesia (+19.6% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per cubic meter in 2021, with an increase of 20% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced decrease. Over the period under review, the export prices hit record highs at $X per cubic meter in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Australia ($X per cubic meter), while Indonesia ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+4.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Wood Residues, Pellets And Other Agglomerates

Imports in Asia-Pacific

In 2021, the amount of wood residues, pellets and other agglomerates imported in Asia-Pacific surged to X cubic meters, with an increase of 54% compared with 2020 figures. Over the period under review, imports showed a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 165% against the previous year. Over the period under review, imports of reached the peak figure in 2021 and are likely to continue growth in years to come.

In value terms, imports of wood residues, pellets and other agglomerates soared to $X in 2021. Overall, imports saw a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 179% against the previous year. Over the period under review, imports of reached the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

The countries with the highest levels of imports of wood residues, pellets and other agglomerates in 2021 were South Korea (X cubic meters) and Japan (X cubic meters), together accounting for 98% of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Japan (with a CAGR of +49.6%).

In value terms, the largest wood residues, pellets and other agglomerates importing markets in Asia-Pacific were Japan ($X) and South Korea ($X).

In terms of the main importing countries, Japan, with a CAGR of +40.8%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The import price in Asia-Pacific stood at $X per cubic meter in 2021, which is down by -1.9% against the previous year. In general, the import price showed a pronounced slump. The pace of growth appeared the most rapid in 2018 an increase of 25% against the previous year. The level of import peaked at $X per cubic meter in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per cubic meter), while South Korea amounted to $X per cubic meter.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-2.5%).

Source: IndexBox Platform

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