South-Eastern Asia: Wood Barrel Market 2024

Wood Barrel Market Size in South-Eastern Asia

After two years of growth, the Southeast Asian wood barrel market decreased by -1.7% to $X in 2022. Overall, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Wood Barrel Production in South-Eastern Asia

In value terms, wood barrel production reduced to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 28% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Wood Barrel Exports

Exports in South-Eastern Asia

In 2022, exports of casks, barrels, vats, tubs, and coopers products of wood in South-Eastern Asia expanded notably to X units, picking up by 8.4% on the previous year. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 61% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wood barrel exports reduced modestly to $X in 2022. Over the period under review, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 126% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Vietnam (X units) and Thailand (X units) dominates exports structure, together making up 95% of total exports. The following exporters - Singapore (X units) and Indonesia (X units) - each recorded a 3.7% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +15.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the largest wood barrel supplier in South-Eastern Asia, comprising 84% of total exports. The second position in the ranking was taken by Thailand ($X), with a 9.3% share of total exports. It was followed by Singapore, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam stood at +16.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (-6.9% per year) and Singapore (+2.5% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, declining by -10.6% against the previous year. In general, the export price, however, enjoyed a strong increase. The growth pace was the most rapid in 2017 when the export price increased by 78% against the previous year. The level of export peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+0.5%), while the other leaders experienced a decline in the export price figures.

Wood Barrel Imports

Imports in South-Eastern Asia

In 2022, imports of casks, barrels, vats, tubs, and coopers products of wood in South-Eastern Asia shrank rapidly to X units, which is down by -62% against 2021 figures. In general, imports showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2014 when imports increased by 92% against the previous year. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, wood barrel imports fell rapidly to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 83%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Philippines (X units) and Thailand (X units) represented the largest importers of casks, barrels, vats, tubs, and coopers products of wood in 2022, accounting for approx. 35% and 28% of total imports, respectively. Vietnam (X units) held the next position in the ranking, followed by Myanmar (X units) and Singapore (X units). All these countries together took approx. 31% share of total imports. Malaysia (X units) and Cambodia (X units) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +54.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X) constitutes the largest market for imported casks, barrels, vats, tubs, and coopers products of wood in South-Eastern Asia, comprising 53% of total imports. The second position in the ranking was held by Vietnam ($X), with a 13% share of total imports. It was followed by Singapore, with a 9.9% share.

In the Philippines, wood barrel imports expanded at an average annual rate of +58.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+4.9% per year) and Singapore (-4.8% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2022, increasing by 46% against the previous year. Import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, import prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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