Asia: Fromwork Market 2024

Fromwork Market Size in Asia

The Asian fromwork market expanded significantly to $X in 2022, with an increase of 6.4% against the previous year. The market value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Fromwork Production in Asia

In value terms, fromwork production stood at $X in 2022 estimated in export price. The total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.0% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 12% against the previous year. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Fromwork Exports

Exports in Asia

In 2022, the amount of shuttering for concrete constructional work, shingles and shakes, of wood exported in Asia fell to X tons, dropping by -14.6% against the previous year's figure. In general, exports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 40%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, fromwork exports declined slightly to $X in 2022. Over the period under review, exports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2015 with an increase of 45% against the previous year. The level of export peaked at $X in 2021, and then reduced slightly in the following year.

Exports by Country

China was the major exporter of shuttering for concrete constructional work, shingles and shakes, of wood in Asia, with the volume of exports finishing at X tons, which was near 53% of total exports in 2022. Israel (X tons) held the second position in the ranking, distantly followed by Vietnam (X tons). All these countries together took near 31% share of total exports. The following exporters - the United Arab Emirates (X tons), Malaysia (X tons), Turkey (X tons) and Palestine (X tons) - together made up 11% of total exports.

From 2012 to 2022, average annual rates of growth with regard to fromwork exports from China stood at +2.3%. At the same time, Israel (+62.4%), Palestine (+55.1%), Vietnam (+46.5%), the United Arab Emirates (+11.0%) and Turkey (+4.4%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in Asia, with a CAGR of +62.4% from 2012-2022. By contrast, Malaysia (-10.1%) illustrated a downward trend over the same period. While the share of Israel (+22 p.p.), Vietnam (+8.2 p.p.), Palestine (+1.9 p.p.) and the United Arab Emirates (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (-9.6 p.p.) and China (-20.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Israel ($X) and Vietnam ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 76% share of total exports.

Among the main exporting countries, Israel, with a CAGR of +64.3%, 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

In 2022, the export price in Asia amounted to $X per ton, growing by 16% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. As a result, the export price attained the peak level and is likely to continue 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 the United Arab Emirates ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.7%), while the other leaders experienced more modest paces of growth.

Fromwork Imports

Imports in Asia

In 2022, purchases abroad of shuttering for concrete constructional work, shingles and shakes, of wood increased by 74% to X tons for the first time since 2017, thus ending a four-year declining trend. Total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, fromwork imports soared to $X in 2022. Total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of fromwork imports in 2022 were Macao SAR (X tons), Palestine (X tons), Malaysia (X tons) and Turkey (X tons), together reaching 56% of total import. It was distantly followed by the United Arab Emirates (X tons), mixing up a 6% share of total imports. India (X tons), Hong Kong SAR (X tons), Maldives (X tons), Israel (X tons), Saudi Arabia (X tons), Indonesia (X tons), Mongolia (X tons) and Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Macao SAR (with a CAGR of +44.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Palestine ($X), Turkey ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of imports in 2022, with a combined 47% share of total imports. Malaysia, India, Israel, Maldives, Saudi Arabia, Macao SAR, Thailand, Hong Kong SAR, Mongolia and Indonesia lagged somewhat behind, together comprising a further 34%.

Macao SAR, with a CAGR of +41.7%, saw the highest growth rate of the value of imports, in terms of 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 amounted to $X per ton, waning by -11.7% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 31% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 the United Arab Emirates ($X per ton), while Macao SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+11.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform