Republic of Korea: Wood Fuel (Non-Coniferous) Market 2021

Wood Fuel (Non-Coniferous) Market Size in Republic of Korea

The South Korean wood fuel (non-coniferous) market contracted dramatically to $X in 2020, shrinking by -X% against the previous year. Over the period under review, consumption recorded a deep reduction. The pace of growth was the most pronounced in 2012 when the market value increased by X% year-to-year. Over the period under review, the market hit record highs at $X in 2008; however, from 2009 to 2020, consumption remained at a lower figure.

Wood Fuel (Non-Coniferous) Production in Republic of Korea

In value terms, wood fuel (non-coniferous) production shrank markedly to $X in 2020 estimated in export prices. Over the period under review, production saw a deep slump. The growth pace was the most rapid in 2017 with an increase of X% year-to-year. Wood fuel (non-coniferous) production peaked at $X in 2008; however, from 2009 to 2020, production stood at a somewhat lower figure.

Wood Fuel (Non-Coniferous) Exports

Exports from Republic of Korea

Wood fuel (non-coniferous) exports from South Korea contracted markedly to X cubic meters in 2020, with a decrease of -X% on 2019. Overall, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Over the period under review, exports reached the peak figure at X cubic meters in 2012; however, from 2013 to 2020, exports remained at a lower figure.

In value terms, wood fuel (non-coniferous) exports declined remarkably to $X in 2020. Over the period under review, exports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2008 with an increase of X% against the previous year. Over the period under review, exports attained the peak figure at $X in 2012; however, from 2013 to 2020, exports stood at a somewhat lower figure.

Exports by Country

Cambodia (X cubic meters), China (X cubic meters) and Italy (X cubic meters) were the main destinations of wood fuel (non-coniferous) exports from South Korea, together accounting for X% of total exports.

From 2007 to 2020, the biggest increases were in Cambodia, while shipments for the other leaders experienced a decline.

In value terms, the largest markets for wood fuel (non-coniferous) exported from South Korea were Italy ($X), Cambodia ($X) and China ($X), together accounting for X% of total exports.

Cambodia saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average wood fuel (non-coniferous) export price stood at $X per cubic meter in 2020, waning by -X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2010 an increase of X% against the previous year. The export price peaked at $X per cubic meter in 2018; however, from 2019 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Italy ($X per cubic meter), while the average price for exports to Cambodia ($X per cubic meter) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the U.S., while the prices for the other major destinations experienced more modest paces of growth.

Wood Fuel (Non-Coniferous) Imports

Imports into Republic of Korea

In 2020, the amount of wood fuel (non-coniferous) imported into South Korea fell significantly to X cubic meters, which is down by -X% compared with 2019 figures. Overall, imports showed a pronounced slump. The pace of growth was the most pronounced in 2009 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X cubic meters in 2016; however, from 2017 to 2020, imports remained at a lower figure.

In value terms, wood fuel (non-coniferous) imports fell sharply to $X in 2020. Over the period under review, imports continue to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2020, imports failed to regain the momentum.

Imports by Country

Indonesia (X cubic meters), China (X cubic meters) and Malaysia (X cubic meters) were the main suppliers of wood fuel (non-coniferous) imports to South Korea, together accounting for X% of total imports. These countries were followed by Brazil, Estonia, Vietnam and Thailand, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Estonia, while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wood fuel (non-coniferous) suppliers to South Korea were China ($X), Indonesia ($X) and Malaysia ($X), together comprising X% of total imports. Vietnam, Brazil, Estonia and Thailand lagged somewhat behind, together comprising a further X saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wood fuel (non-coniferous) import price stood at $X per cubic meter in 2020, reducing by -X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2019 when the average import price increased by X% year-to-year. As a result, import price attained the peak level of $X per cubic meter, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Vietnam ($X per cubic meter), while the price for Thailand ($X per cubic meter) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Estonia, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform