Republic of Korea: Market for Saw Logs And Veneer Logs (Non-Coniferous) 2025

Market Size for Saw Logs And Veneer Logs (Non-Coniferous) in Republic of Korea

The South Korean market for saw logs and veneer logs (non-coniferous) fell modestly to $X in 2022, shrinking by -3.1% against the previous year. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Saw Logs And Veneer Logs (Non-Coniferous) in Republic of Korea

In value terms, production of saw logs and veneer logs (non-coniferous) shrank to $X in 2022 estimated in export price. Overall, production continues to indicate a significant increase. The growth pace was the most rapid in 2014 with an increase of 1,061% against the previous year. Over the period under review, production of reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Saw Logs And Veneer Logs (Non-Coniferous)

Exports from Republic of Korea

In 2022, approx. X cubic meters of saw logs and veneer logs (non-coniferous) were exported from South Korea; with a decrease of -5.9% compared with 2021 figures. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 266% against the previous year. Over the period under review, the exports of hit record highs at X cubic meters in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of saw logs and veneer logs (non-coniferous) surged to $X in 2022. Overall, exports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of 1,244% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Singapore (X cubic meters), Japan (X cubic meters) and China (X cubic meters) were the main destinations of exports of saw logs and veneer logs (non-coniferous) from South Korea, together accounting for 98% of total exports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +79.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Singapore ($X) emerged as the key foreign market for saw logs and veneer logs (non-coniferous) exports from South Korea, comprising 81% of total exports. The second position in the ranking was taken by Japan ($X), with a 16% share of total exports. It was followed by China, with a 1.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore totaled +138.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+3.2% per year) and China (-3.1% per year).

Export Prices by Country

The average export price for saw logs and veneer logs (non-coniferous) stood at $X per cubic meter in 2022, increasing by 40% against the previous year. Overall, the export price recorded a strong increase. The most prominent rate of growth was recorded in 2014 an increase of 267%. Over the period under review, the average export prices hit record highs at $X per cubic meter in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per cubic meter), while the average price for exports to China ($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 Singapore (+33.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Saw Logs And Veneer Logs (Non-Coniferous)

Imports into Republic of Korea

For the fourth consecutive year, South Korea recorded decline in purchases abroad of saw logs and veneer logs (non-coniferous), which decreased by -13.8% to X cubic meters in 2022. Over the period under review, imports saw a abrupt setback. The growth pace was the most rapid in 2018 when imports increased by 3.4%. Over the period under review, imports of attained the peak figure at X cubic meters in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, imports of saw logs and veneer logs (non-coniferous) contracted to $X in 2022. Overall, imports saw a abrupt curtailment. The growth pace was the most rapid in 2018 when imports increased by 13% against the previous year. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Papua New Guinea (X cubic meters) constituted the largest saw logs and veneer logs (non-coniferous) supplier to South Korea, with a 67% share of total imports. Moreover, imports of saw logs and veneer logs (non-coniferous) from Papua New Guinea exceeded the figures recorded by the second-largest supplier, the United States (X cubic meters), sixfold. Solomon Islands (X cubic meters) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Papua New Guinea totaled -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.8% per year) and Solomon Islands (-17.1% per year).

In value terms, Papua New Guinea ($X) constituted the largest supplier of saw logs and veneer logs (non-coniferous) to South Korea, comprising 52% of total imports. The second position in the ranking was held by the United States ($X), with a 22% share of total imports. It was followed by Solomon Islands, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Papua New Guinea was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.5% per year) and Solomon Islands (-14.7% per year).

Import Prices by Country

The average import price for saw logs and veneer logs (non-coniferous) stood at $X per cubic meter in 2022, increasing by 7.2% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2021 an increase of 11% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.

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 Hungary ($X per cubic meter), while the price for Papua New Guinea ($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 Solomon Islands (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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