Philippines: Market for Wood Chips And Particles 2024

Market Size for Wood Chips And Particles in the Philippines

The Philippine wood chips and particles market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption recorded a perceptible decrease. Wood chips and particles consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Production of Wood Chips And Particles in the Philippines

In value terms, wood chips and particles production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 11%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Exports of Wood Chips And Particles

Exports from the Philippines

After two years of growth, overseas shipments of wood chips and particles decreased by -63.3% to X cubic meters in 2022. Overall, exports, however, saw significant growth. The growth pace was the most rapid in 2017 when exports increased by 2,607% against the previous year. Over the period under review, the exports hit record highs at X cubic meters in 2021, and then fell notably in the following year.

In value terms, wood chips and particles exports shrank markedly to $X in 2022. In general, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 2,044% against the previous year. The exports peaked at $X in 2021, and then declined significantly in the following year.

Exports by Country

Japan (X cubic meters) was the main destination for wood chips and particles exports from the Philippines, with a 88% share of total exports. Moreover, wood chips and particles exports to Japan exceeded the volume sent to the second major destination, South Korea (X cubic meters), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Japan stood at +86.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+11.5% per year) and the United States (+132.6% per year).

In value terms, Japan ($X) remains the key foreign market for wood chips and particles exports from the Philippines, comprising 88% of total exports. The second position in the ranking was taken by South Korea ($X), with a 6.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan totaled +105.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+10.9% per year) and the United States (+138.4% per year).

Export Prices by Country

In 2022, the average wood chips and particles export price amounted to $X per cubic meter, with an increase of 36% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 113% against the previous year. The export price peaked at $X per cubic meter in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per cubic meter), while the average price for exports to the United States ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+55.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wood Chips And Particles

Imports into the Philippines

In 2022, purchases abroad of wood chips and particles decreased by -13.2% to X cubic meters, falling for the second year in a row after two years of growth. Over the period under review, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 4,980% against the previous year. As a result, imports reached the peak of X cubic meters. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, wood chips and particles imports surged to $X in 2022. In general, imports, however, posted a significant increase. The growth pace was the most rapid in 2016 with an increase of 1,793% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Germany (X cubic meters), Singapore (X cubic meters) and Indonesia (X cubic meters) were the main suppliers of wood chips and particles imports to the Philippines, with a combined 90% share of total imports. France, Bulgaria and the Netherlands lagged somewhat behind, together comprising a further 8.7%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +500.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constituted the largest supplier of wood chips and particles to the Philippines, comprising 86% of total imports. The second position in the ranking was held by Germany ($X), with a 5.9% share of total imports. It was followed by France, with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Singapore amounted to +98.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+11.5% per year) and France (+68.0% per year).

Import Prices by Country

In 2022, the average wood chips and particles import price amounted to $X per cubic meter, jumping by 577% against the previous year. In general, the import price posted a prominent expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Singapore ($X per cubic meter), while the price for Indonesia ($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 Singapore (+7.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :