India: Densified Wood Market 2024

Densified Wood Market Size in India

In 2022, the Indian densified wood market increased by 12% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +73.1% against 2020 indices. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Densified Wood Exports

Exports from India

Densified wood exports from India soared to X tons in 2022, increasing by 120% against the year before. In general, exports, however, recorded a abrupt downturn. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, densified wood exports surged to $X in 2022. Overall, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2020 with an increase of 43% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Senegal (X tons) was the main destination for densified wood exports from India, accounting for a 34% share of total exports. Moreover, densified wood exports to Senegal exceeded the volume sent to the second major destination, Saudi Arabia (X tons), twofold. Bahrain (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Senegal totaled +20.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-6.8% per year) and Bahrain (+66.4% per year).

In value terms, the largest markets for densified wood exported from India were Kuwait ($X), Saudi Arabia ($X) and Senegal ($X), together comprising 46% of total exports.

Kuwait, with a CAGR of +122.1%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average densified wood export price amounted to $X per ton, with a decrease of -47.1% against the previous year. In general, the export price, however, posted slight growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 83% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.

Densified Wood Imports

Imports into India

In 2022, supplies from abroad of densified wood increased by 21% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 37%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, densified wood imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a slight slump. The most prominent rate of growth was recorded in 2021 when imports increased by 52% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Italy (X tons), Germany (X tons) and Sri Lanka (X tons) were the main suppliers of densified wood imports to India, together comprising 63% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sri Lanka (with a CAGR of +126.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest densified wood suppliers to India were Italy ($X), Germany ($X) and Cameroon ($X), with a combined 81% share of total imports. China, Poland, Sri Lanka, Latvia and Malaysia lagged somewhat behind, together comprising a further 17%.

In terms of the main suppliers, Sri Lanka, with a CAGR of +79.6%, recorded the highest growth rate of 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 average densified wood import price amounted to $X per ton, surging by 1.6% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 18%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cameroon (+13.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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