Republic of Korea: Market for Wood Chips, Particles And Residues 2022

Market Size for Wood Chips, Particles And Residues in Republic of Korea

In 2021, the South Korean market for wood chips, particles and residues increased by X% to $X, rising for the sixth year in a row after two years of decline. Over the period under review, the total consumption indicated tangible growth from 2012 to 2021: its value decreased at an average annual rate of -X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +X% against 2015 indices. Wood chips, particles and residues consumption peaked in 2021 and is likely to continue growth in the near future.

Production of Wood Chips, Particles And Residues in Republic of Korea

In value terms, wood chips, particles and residues production reduced notably to $X in 2021 estimated in export price. Overall, production showed a dramatic decrease. The pace of growth was the most pronounced in 2015 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Wood Chips, Particles And Residues

Exports from Republic of Korea

In 2021, wood chips, particles and residues exports from South Korea fell sharply to X kg, with a decrease of -X% compared with the previous year. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, wood chips, particles and residues exports reduced dramatically to $X in 2021. Over the period under review, exports saw a deep slump. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

China (X kg) was the main destination for wood chips, particles and residues exports from South Korea, with a approx. X% share of total exports.

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

In value terms, China ($X) also remains the key foreign market for wood chips, particles and residues exports from South Korea.

From 2012 to 2020, the average annual rate of growth in terms of value to China amounted to +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. Overall, the export price faced a abrupt decline. The pace of growth appeared the most rapid in 2019 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2020, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2020, the rate of growth in terms of prices for China amounted to -X% per year.

Imports of Wood Chips, Particles And Residues

Imports into Republic of Korea

In 2021, overseas purchases of wood chips, particles and residues were finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, recorded a slight descent. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, wood chips, particles and residues imports shrank dramatically to $X in 2021. In general, imports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2019 when imports increased by X%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth imports failed to regain momentum.

Imports by Country

In 2020, Vietnam (X tons) constituted the largest supplier of wood chips, particles and residues to South Korea, with a X% share of total imports. Moreover, wood chips, particles and residues imports from Vietnam exceeded the figures recorded by the second-largest supplier, France (X tons), more than tenfold. Austria (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, Vietnam ($X) constituted the largest supplier of wood chips, particles and residues to South Korea, comprising X% of total imports. The second position in the ranking was occupied by France ($X), with an X% share of total imports. It was followed by Austria, with a X% share.

From 2012 to 2020, the average annual growth rate of value from Vietnam amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+X% per year) and Austria (+X% per year).

Import Prices by Country

The average import price for wood chips, particles and residues stood at $X per ton in 2020, increasing by X% against the previous year. Over the last eight-year period, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2019 when the average import price increased by X%. The import price peaked in 2020 and is expected to retain growth in the near future.

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

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Belgium (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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