Asia: Wood Tool Market 2025

Wood Tool Market Size in Asia

In 2021, the Asian wood tool market decreased by -5.8% to $X for the first time since 2015, thus ending a five-year rising trend. Over the period under review, consumption recorded a resilient increase. Over the period under review, the market attained the peak level at $X in 2020, and then contracted in the following year.

Wood Tool Production in Asia

In value terms, wood tool production declined to $X in 2021 estimated in export price. Overall, production posted a buoyant increase. The growth pace was the most rapid in 2014 with an increase of 39%. The level of production peaked at $X in 2020, and then shrank in the following year.

Wood Tool Exports

Exports in Asia

After two years of decline, shipments abroad of tools of wood increased by 16% to X tons in 2021. In general, exports continue to indicate a measured expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 51%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, wood tool exports skyrocketed to $X in 2021. Overall, exports enjoyed significant growth. The growth pace was the most rapid in 2014 with an increase of 76% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

China dominates exports structure, reaching X tons, which was near 80% of total exports in 2021. Turkey (X tons) ranks second in terms of the total exports with a 5.5% share, followed by Vietnam (4.6%). The following exporters - Sri Lanka (X tons) and Indonesia (X tons) - together made up 6.5% of total exports.

From 2012 to 2021, average annual rates of growth with regard to wood tool exports from China stood at +4.5%. At the same time, Turkey (+32.7%) and Vietnam (+10.4%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +32.7% from 2012-2021. By contrast, Sri Lanka (-2.6%) and Indonesia (-7.8%) illustrated a downward trend over the same period. While the share of Turkey (+4.9 p.p.), China (+3.4 p.p.) and Vietnam (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Sri Lanka (-3.1 p.p.) and Indonesia (-4.9 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest wood tool supplier in Asia, comprising 83% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 3.9% share of total exports. It was followed by Turkey, with a 1.5% share.

In China, wood tool exports increased at an average annual rate of +29.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+19.4% per year) and Turkey (+20.7% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, with an increase of 19% against the previous year. In general, the export price continues to indicate a buoyant expansion. The growth pace was the most rapid in 2020 an increase of 62%. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+24.1%), while the other leaders experienced more modest paces of growth.

Wood Tool Imports

Imports in Asia

In 2021, the amount of tools of wood imported in Asia soared to X tons, with an increase of 25% on the previous year's figure. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +72.5% against 2017 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, wood tool imports soared to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +8.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +80.9% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Iraq (X tons), distantly followed by Sri Lanka (X tons), India (X tons), Saudi Arabia (X tons), Malaysia (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons) were the largest importers of tools of wood, together committing 75% of total imports. The following importers - Japan (X tons), the United Arab Emirates (X tons), Turkey (X tons), Indonesia (X tons) and Kyrgyzstan (X tons) - together made up 13% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Sri Lanka (with a CAGR of +45.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Iraq ($X) constitutes the largest market for imported tools of wood in Asia, comprising 29% of total imports. The second position in the ranking was held by Japan ($X), with a 14% share of total imports. It was followed by the United Arab Emirates, with a 10% share.

In Iraq, wood tool imports expanded at an average annual rate of +46.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-1.1% per year) and the United Arab Emirates (+19.4% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, jumping by 22% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.2%. The level of import peaked at $X per ton in 2018; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+16.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :