Asia: Market for Wood Chips, Parts, Residues, Pellets And Other Agglomerates 2024

Market Size for Wood Chips, Parts, Residues, Pellets And Other Agglomerates in Asia

In 2021, after two years of decline, there was significant growth in the Asian market for wood chips, parts, residues, pellets and other agglomerates, when its value increased by 9.7% to $X. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Production of Wood Chips, Parts, Residues, Pellets And Other Agglomerates in Asia

In value terms, production of wood chips, parts, residues, pellets and other agglomerates contracted to $X in 2021 estimated in export price. In general, production saw a significant expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 62% against the previous year. Over the period under review, production of hit record highs at $X in 2020, and then reduced modestly in the following year.

Exports of Wood Chips, Parts, Residues, Pellets And Other Agglomerates

Exports in Asia

In 2021, the amount of wood chips, parts, residues, pellets and other agglomerates exported in Asia expanded notably to X cubic meters, surging by 12% on the year before. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +116.4% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of 38%. The volume of export peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, exports of wood chips, parts, residues, pellets and other agglomerates soared to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +71.4% against 2016 indices. The most prominent rate of growth was recorded in 2018 with an increase of 30%. Over the period under review, the exports of reached the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

Vietnam prevails in agglomerates structure, recording X cubic meters, which was near 77% of total exports in 2021. Thailand (X cubic meters) held a 9.1% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (7.9%) and Malaysia (5.3%).

Vietnam was also the fastest-growing in terms of the wood chips, parts, residues, pellets and other agglomerates exports, with a CAGR of +11.7% from 2012 to 2021. At the same time, Malaysia (+10.3%) and Indonesia (+2.7%) displayed positive paces of growth. By contrast, Thailand (-5.3%) illustrated a downward trend over the same period. Vietnam (+23 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Thailand saw its share reduced by -4.1% and -19.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest wood chips, parts, residues, pellets and other agglomerates supplier in Asia, comprising 75% of total exports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total exports. It was followed by Thailand, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Vietnam amounted to +11.6%. In the other countries, the average annual rates were as follows: Malaysia (+14.9% per year) and Thailand (-3.9% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per cubic meter, increasing by 5.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2016 when the export price increased by 26%. As a result, the export price reached the peak level of $X per cubic meter. From 2017 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per cubic meter), while Indonesia ($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 Malaysia (+4.2%), while the other leaders experienced mixed trends in the export price figures.

Imports of Wood Chips, Parts, Residues, Pellets And Other Agglomerates

Imports in Asia

After two years of decline, supplies from abroad of wood chips, parts, residues, pellets and other agglomerates increased by 20% to X cubic meters in 2021. The total import volume increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of wood chips, parts, residues, pellets and other agglomerates surged to $X in 2021. The total import value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X cubic meters) and Japan (X cubic meters) represented roughly 83% of total imports in 2021. It was distantly followed by South Korea (X cubic meters), achieving a 12% share of total imports. Taiwan (Chinese) (X cubic meters) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by South Korea (with a CAGR of +14.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wood chips, parts, residues, pellets and other agglomerates importing markets in Asia were China ($X), Japan ($X) and South Korea ($X), together comprising 97% of total imports.

South Korea, with a CAGR of +17.2%, recorded 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 mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per cubic meter, rising by 1.7% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 8.6% against the previous year. As a result, import price attained the peak level of $X per cubic meter. From 2020 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per cubic meter), while Taiwan (Chinese) ($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 South Korea (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :