Republic of Korea: Market for Coniferous Wood In The Rough 2024

Market Size for Coniferous Wood In The Rough in Republic of Korea

The South Korean market for coniferous wood in the rough dropped to $X in 2022, remaining constant against the previous year. Overall, consumption, however, recorded a abrupt descent. Coniferous wood in the rough consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Coniferous Wood In The Rough in Republic of Korea

In value terms, coniferous wood in the rough production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2016 with an increase of 38% against the previous year. Over the period under review, coniferous wood in rough production attained the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Coniferous Wood In The Rough

Exports from Republic of Korea

After four years of growth, shipments abroad of coniferous wood in the rough decreased by -2.7% to X cubic meters in 2022. Over the period under review, exports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of 192% against the previous year. Over the period under review, the coniferous wood in rough exports attained the maximum at X cubic meters in 2021, and then fell in the following year.

In value terms, coniferous wood in the rough exports declined slightly to $X in 2022. Overall, exports, however, continue to indicate a tangible increase. The growth pace was the most rapid in 2013 with an increase of 245%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) (X cubic meters), Vietnam (X cubic meters) and China (X cubic meters) were the main destinations of coniferous wood in the rough exports from South Korea, together comprising 92% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +54.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for coniferous wood in the rough exported from South Korea were Taiwan (Chinese) ($X), Vietnam ($X) and China ($X), with a combined 93% share of total exports.

In terms of the main countries of destination, Vietnam, with a CAGR of +43.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for coniferous wood in the rough stood at $X per cubic meter in 2022, almost unchanged from the previous year. In general, the export price, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2013 when the average export price increased by 18%. As a result, the export price reached the peak level of $X per cubic meter. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were China ($X per cubic meter) and Taiwan (Chinese) ($X per cubic meter), while the average price for exports to Indonesia ($X per cubic meter) and the United States ($X per cubic meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+86.6%), while the prices for the other major destinations experienced a decline.

Imports of Coniferous Wood In The Rough

Imports into Republic of Korea

In 2022, supplies from abroad of coniferous wood in the rough increased by 1.1% to X cubic meters for the first time since 2016, thus ending a five-year declining trend. In general, imports, however, recorded a precipitous shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 11%. As a result, imports attained the peak of X cubic meters. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, coniferous wood in the rough imports rose modestly to $X in 2022. Over the period under review, imports, however, showed a sharp downturn. The most prominent rate of growth was recorded in 2013 with an increase of 24% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, New Zealand (X cubic meters) constituted the largest coniferous wood in the rough supplier to South Korea, with a 84% share of total imports. Moreover, coniferous wood in the rough imports from New Zealand exceeded the figures recorded by the second-largest supplier, Canada (X cubic meters), more than tenfold. The third position in this ranking was held by the United States (X cubic meters), with a 3.5% share.

From 2012 to 2022, the average annual growth rate of volume from New Zealand stood at -52.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-55.7% per year) and the United States (-59.4% per year).

In value terms, New Zealand ($X), Canada ($X) and the United States ($X) constituted the largest coniferous wood in the rough suppliers to South Korea, together comprising 95% of total imports. These countries were followed by Australia, Japan and Russia, which together accounted for a further 3.7%.

Japan, with a CAGR of -53.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average import price for coniferous wood in the rough stood at $X per cubic meter in 2022, surging by 3.3% against the previous year. In general, the import price, however, showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2013 an increase of 11%. As a result, import price reached the peak level of $X per cubic meter. From 2014 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per cubic meter), while the price for New Zealand ($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 Russia (+3.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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