Eastern Asia: Sawnwood (Coniferous) Market 2024

Sawnwood (Coniferous) Market Size in Eastern Asia

The East Asian sawnwood (coniferous) market shrank to $X in 2022, with a decrease of -4.8% against the previous year. The market value increased at an average annual rate of +3.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2021, and then reduced in the following year.

Sawnwood (Coniferous) Production in Eastern Asia

In value terms, sawnwood (coniferous) production expanded sharply to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when the production volume increased by 19%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Sawnwood (Coniferous) Exports

Exports in Eastern Asia

In 2022, the amount of sawnwood (coniferous) exported in Eastern Asia declined markedly to X cubic meters, dropping by -66.1% against 2021 figures. Overall, exports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 121% against the previous year. 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, sawnwood (coniferous) exports dropped significantly to $X in 2022. Over the period under review, exports, however, showed a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 118%. The level of export peaked at $X in 2021, and then declined markedly in the following year.

Exports by Country

Japan prevails in exports structure, reaching X cubic meters, which was near 97% of total exports in 2022. China (X cubic meters) held a minor share of total exports.

Exports from Japan increased at an average annual rate of +6.5% from 2012 to 2022. At the same time, China (+28.3%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +28.3% from 2012-2022. Japan (+4.8 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 ($X) remains the largest sawnwood (coniferous) supplier in Eastern Asia, comprising 94% of total exports. The second position in the ranking was taken by China ($X), with a 2% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Japan amounted to +14.8%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per cubic meter, rising by 7.9% against the previous year. Over the period under review, the export price recorded a remarkable increase. The pace of growth appeared the most rapid in 2021 an increase of 46% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per cubic meter), while Japan totaled $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+7.8%).

Sawnwood (Coniferous) Imports

Imports in Eastern Asia

In 2022, supplies from abroad of sawnwood (coniferous) decreased by -11.9% to X cubic meters for the first time since 2017, thus ending a four-year rising trend. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 25% against the previous year. The volume of import peaked at X cubic meters in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, sawnwood (coniferous) imports shrank to $X in 2022. Total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.1% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 39%. Over the period under review, imports hit record highs at $X in 2021, and then fell in the following year.

Imports by Country

China represented the key importer of sawnwood (coniferous) in Eastern Asia, with the volume of imports recording X cubic meters, which was approx. 60% of total imports in 2022. Japan (X cubic meters) held a 29% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (10%).

Imports into China decreased at an average annual rate of -1.2% from 2012 to 2022. At the same time, Japan (+7.2%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +7.2% from 2012-2022. By contrast, South Korea (-2.1%) illustrated a downward trend over the same period. While the share of Japan (+14 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (-3.1 p.p.) and China (-10.7 p.p.) displayed negative dynamics.

In value terms, China ($X), Japan ($X) and South Korea ($X) were the countries with the highest levels of imports in 2022, with a combined 99% share of total imports.

Among the main importing countries, Japan, with a CAGR of +10.0%, saw the highest rates of growth with regard to the value of imports, 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 Eastern Asia amounted to $X per cubic meter, growing by 9.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.8%. The growth pace was the most rapid in 2018 when the import price increased by 39%. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per cubic meter), while South Korea ($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 (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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