Philippines: Market for Wood Chips, Particles And Residues 2022

Market Size for Wood Chips, Particles And Residues in the Philippines

In 2021, the Philippine market for wood chips, particles and residues decreased by -X% to $X, falling for the second year in a row after two years of growth. Overall, consumption recorded a sharp shrinkage. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Wood Chips, Particles And Residues in the Philippines

In value terms, wood chips, particles and residues production contracted dramatically to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Exports of Wood Chips, Particles And Residues

Exports from the Philippines

For the third consecutive year, the Philippines recorded growth in overseas shipments of wood chips, particles and residues, which increased by X% to X tons in 2021. Overall, exports posted prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, wood chips, particles and residues exports soared to $X in 2021. Over the period under review, exports continue to indicate a perceptible slump. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for wood chips, particles and residues exports from the Philippines, with a X% share of total exports. It was followed by Germany (X kg), with a X% share of total exports.

From 2012 to 2020, the average annual growth rate of volume to Japan stood at +X%.

In value terms, Japan ($X) emerged as the key foreign market for wood chips, particles and residues exports from the Philippines, comprising X% of total exports. The second position in the ranking was occupied by Germany ($X), with a X% share of total exports.

From 2012 to 2020, the average annual rate of growth in terms of value to Japan totaled +X%.

Export Prices by Country

The average export price for wood chips, particles and residues stood at $X per ton in 2020, dropping by -X% against the previous year. In general, the export price showed a drastic downturn. The pace of growth appeared the most rapid in 2018 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2020, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2020, the country with the highest price was Germany ($X per ton), while the average price for exports to Japan amounted to $X per ton.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Germany (-X%).

Imports of Wood Chips, Particles And Residues

Imports into the Philippines

For the sixth year in a row, the Philippines recorded growth in supplies from abroad of wood chips, particles and residues, which increased by X% to X tons in 2021. Overall, imports saw strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, wood chips, particles and residues imports soared to $X in 2021. Over the period under review, total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2020, Denmark (X tons) was the main wood chips, particles and residues supplier to the Philippines, with a X% share of total imports. Moreover, wood chips, particles and residues imports from Denmark exceeded the figures recorded by the second-largest supplier, Indonesia (X kg), fourfold. Bulgaria (X kg) ranked third in terms of total imports with an X% share.

From 2012 to 2020, the average annual growth rate of volume from Denmark stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+X% per year) and Bulgaria (+X% per year).

In value terms, the largest wood chips, particles and residues suppliers to the Philippines were Indonesia ($X), Germany ($X) and Denmark ($X the main suppliers, Bulgaria, with a CAGR of +X%, 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

The average import price for wood chips, particles and residues stood at $X per ton in 2020, shrinking by -X% against the previous year. Over the period under review, the import price continues to indicate a drastic downturn. The growth pace was the most rapid in 2019 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2020, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Indonesia (-X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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