South-Eastern Asia: Wood Flat Pallet Market 2024

Wood Flat Pallet Market Size in South-Eastern Asia

In 2021, the Southeast Asian wood flat pallet market increased by 16% to $X, rising for the fifth year in a row after two years of decline. The total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +67.4% against 2016 indices. Over the period under review, the market attained the maximum level in 2021 and is likely to see steady growth in the immediate term.

Wood Flat Pallet Production in South-Eastern Asia

In value terms, wood flat pallet production soared to $X in 2021 estimated in export price. The total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +76.1% against 2016 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 30%. Over the period under review, production attained the peak level in 2021 and is expected to retain growth in the immediate term.

Wood Flat Pallet Exports

Exports in South-Eastern Asia

In 2021, shipments abroad of flat pallets and pallet collars of wood decreased by -1.8% to X units, falling for the second year in a row after two years of growth. The total export volume increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 when exports increased by 21%. The volume of export peaked at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, wood flat pallet exports surged to $X in 2021. The total export value increased at an average annual rate of +6.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Malaysia (X units) was the key exporter of flat pallets and pallet collars of wood, committing 68% of total exports. Vietnam (X units) ranks second in terms of the total exports with a 13% share, followed by Thailand (7.4%) and Singapore (7.2%). Indonesia (X units) and the Philippines (X units) held a relatively small share of total exports.

Malaysia experienced a relatively flat trend pattern with regard to volume of exports of flat pallets and pallet collars of wood. At the same time, Thailand (+5.8%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +5.8% from 2012-2021. Singapore experienced a relatively flat trend pattern. By contrast, Vietnam (-1.9%), Indonesia (-4.1%) and the Philippines (-9.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam and Thailand increased by +13 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest wood flat pallet supplier in South-Eastern Asia, comprising 77% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 9.5% share of total exports. It was followed by Thailand, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Malaysia stood at +6.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+6.4% per year) and Thailand (+10.7% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, jumping by 34% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+6.5%), while the other leaders experienced more modest paces of growth.

Wood Flat Pallet Imports

Imports in South-Eastern Asia

After nine years of growth, purchases abroad of flat pallets and pallet collars of wood decreased by -44.2% to X units in 2021. In general, imports, however, saw a temperate expansion. The pace of growth appeared the most rapid in 2019 with an increase of 33% against the previous year. Over the period under review, imports attained the peak figure at X units in 2020, and then reduced remarkably in the following year.

In value terms, wood flat pallet imports surged to $X in 2021. The total import value increased at an average annual rate of +5.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Singapore (X units) represented the largest importer of flat pallets and pallet collars of wood, making up 73% of total imports. It was distantly followed by Malaysia (X units), mixing up a 16% share of total imports. Thailand (X units) and the Philippines (X units) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to wood flat pallet imports into Singapore stood at +4.1%. At the same time, Malaysia (+19.4%) and Thailand (+6.8%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +19.4% from 2012-2021. By contrast, the Philippines (-9.2%) illustrated a downward trend over the same period. While the share of Malaysia (+11 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Singapore (-5.3 p.p.) and the Philippines (-8.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported flat pallets and pallet collars of wood in South-Eastern Asia, comprising 82% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 5.7% share of total imports. It was followed by Thailand, with a 5% share.

From 2012 to 2021, the average annual growth rate of value in Singapore amounted to +5.8%. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+11.0% per year) and Thailand (+9.8% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2021, rising by 108% against the previous year. Overall, the import price recorded a slight increase. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+8.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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