Malaysia: Wood Pellets Market 2024

Wood Pellets Market Size in Malaysia

The Malaysian wood pellets market shrank significantly to $X in 2022, waning by -26.4% against the previous year. In general, consumption, however, saw significant growth. Over the period under review, the market reached the peak level at $X in 2021, and then shrank markedly in the following year.

Wood Pellets Production in Malaysia

In value terms, wood pellets production reduced to $X in 2022 estimated in export price. Overall, production posted significant growth. The growth pace was the most rapid in 2014 with an increase of 140%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Wood Pellets Exports

Exports from Malaysia

In 2022, approx. X tons of wood pellets were exported from Malaysia; surging by 6.4% on the previous year. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 117%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, wood pellets exports amounted to $X in 2022. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 138%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

South Korea (X tons) was the main destination for wood pellets exports from Malaysia, accounting for a 61% share of total exports. Moreover, wood pellets exports to South Korea exceeded the volume sent to the second major destination, Japan (X tons), threefold. The Netherlands (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to South Korea totaled +29.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+53.3% per year) and the Netherlands (0.0% per year).

In value terms, South Korea ($X) remains the key foreign market for wood pellets exports from Malaysia, comprising 63% of total exports. The second position in the ranking was held by Japan ($X), with a 26% share of total exports. It was followed by the Netherlands, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to South Korea totaled +29.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+41.9% per year) and the Netherlands (0.0% per year).

Export Prices by Country

The average wood pellets export price stood at $X per ton in 2022, with a decrease of -4% against the previous year. In general, the export price showed a mild decrease. The most prominent rate of growth was recorded in 2018 an increase of 23% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the 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 Japan ($X per ton), while the average price for exports to Thailand ($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 South Korea (-0.1%), while the prices for the other major destinations experienced a decline.

Wood Pellets Imports

Imports into Malaysia

Wood pellets imports into Malaysia soared to X tons in 2022, increasing by 20% against the year before. Over the period under review, imports saw temperate growth. The pace of growth appeared the most rapid in 2015 when imports increased by 82% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, wood pellets imports surged to $X in 2022. Overall, imports posted noticeable growth. The most prominent rate of growth was recorded in 2015 with an increase of 63%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of wood pellets to Malaysia, accounting for a 88% share of total imports. It was followed by Germany (X tons), with a 2.3% share of total imports. The third position in this ranking was taken by South Korea (X tons), with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +31.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.9% per year) and South Korea (+12.9% per year).

In value terms, China ($X) constituted the largest supplier of wood pellets to Malaysia, comprising 88% of total imports. The second position in the ranking was held by Germany ($X), with a 2.7% share of total imports. It was followed by Singapore, with a 0.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +29.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-7.7% per year) and Singapore (-11.7% per year).

Import Prices by Country

The average wood pellets import price stood at $X per ton in 2022, rising by 10% against the previous year. Overall, the import price posted slight growth. The most prominent rate of growth was recorded in 2013 an increase of 50% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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