Eastern Asia: Coniferous Roundwood Market 2024

Coniferous Roundwood Market Size in Eastern Asia

The East Asian coniferous roundwood market fell rapidly to $X in 2022, with a decrease of -19.9% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Coniferous Roundwood Production in Eastern Asia

In value terms, coniferous roundwood production expanded rapidly to $X in 2022 estimated in export price. In general, production, however, posted notable growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 90%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Coniferous Roundwood Exports

Exports in Eastern Asia

Coniferous roundwood exports reduced sharply to X cubic meters in 2022, which is down by -27.3% compared with 2021 figures. Overall, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 121%. The volume of export peaked at X cubic meters in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, coniferous roundwood exports declined notably to $X in 2022. Over the period under review, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 116%. The level of export peaked at $X in 2021, and then fell markedly in the following year.

Exports by Country

In 2022, Japan (X cubic meters) was the key exporter of roundwood (coniferous) in Eastern Asia, comprising 99% of total export.

Japan was also the fastest-growing in terms of the roundwood (coniferous) exports, with a CAGR of +15.2% from 2012 to 2022. Japan (+6.8 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) also remains the largest coniferous roundwood supplier in Eastern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan amounted to +25.0%.

Export Prices by Country

The export price in Eastern Asia stood at $X per cubic meter in 2022, with an increase of 12% against the previous year. In general, the export price showed a strong increase. The growth pace was the most rapid in 2021 when the export price increased by 46%. Over the period under review, the export prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for Japan amounted to +8.5% per year.

Coniferous Roundwood Imports

Imports in Eastern Asia

In 2022, purchases abroad of roundwood (coniferous) decreased by -50.9% to X cubic meters for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports recorded a perceptible decrease. The pace of growth appeared the most rapid in 2016 with an increase of 33%. Over the period under review, imports hit record highs at X cubic meters in 2021, and then plummeted in the following year.

In value terms, coniferous roundwood imports fell notably to $X in 2022. Total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by +0.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 44% against the previous year. As a result, imports attained the peak of $X, and then contracted sharply in the following year.

Imports by Country

In 2022, China (X cubic meters) represented the key importer of roundwood (coniferous), mixing up 73% of total imports. Japan (X cubic meters) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (9.1%).

China was also the fastest-growing in terms of the roundwood (coniferous) imports, with a CAGR of -3.3% from 2012 to 2022. South Korea (-3.4%) and Japan (-4.4%) illustrated a downward trend over the same period. While the share of Japan (-1.6 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported roundwood (coniferous) in Eastern Asia, comprising 79% of total imports. The second position in the ranking was held by Japan ($X), with a 13% share of total imports.

In China, coniferous roundwood imports expanded at an average annual rate of +3.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-0.2% per year) and South Korea (-3.4% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per cubic meter, surging by 42% against the previous year. Import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coniferous roundwood import price increased by +89.4% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per cubic meter), while South Korea ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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