South-Eastern Asia: Wood Fuel Market 2024

Wood Fuel Market Size in South-Eastern Asia

The Southeast Asian wood fuel market amounted to $X in 2022, almost unchanged from the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Wood Fuel Production in South-Eastern Asia

In value terms, wood fuel production rose slightly to $X in 2022 estimated in export price. In general, production, however, showed a slight setback. The growth pace was the most rapid in 2016 when the production volume increased by 58%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Wood Fuel Exports

Exports in South-Eastern Asia

In 2022, shipments abroad of wood fuel increased by 187% to X cubic meters, rising for the second year in a row after two years of decline. In general, exports saw a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at X cubic meters in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, wood fuel exports surged to $X in 2022. Over the period under review, exports enjoyed a notable expansion. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam represented the key exporter of wood fuel in South-Eastern Asia, with the volume of exports finishing at X cubic meters, which was approx. 85% of total exports in 2022. It was distantly followed by Indonesia (X cubic meters), making up a 13% share of total exports.

Exports from Vietnam increased at an average annual rate of +27.0% from 2012 to 2022. At the same time, Indonesia (+31.4%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +31.4% from 2012-2022. While the share of Vietnam (+76 p.p.) and Indonesia (+12 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest wood fuel supplier in South-Eastern Asia, comprising 69% of total exports. The second position in the ranking was held by Indonesia ($X), with a 28% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam totaled +28.7%.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per cubic meter, with an increase of 3.7% against the previous year. Export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood fuel export price decreased by -0.3% against 2020 indices. The pace of growth was the most pronounced in 2014 when the export price increased by 39%. The level of export peaked at $X per cubic meter in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per cubic meter), while Vietnam amounted to $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+2.7%).

Wood Fuel Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of wood fuel increased by 429% to X cubic meters for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports posted a moderate expansion. The volume of import peaked at X cubic meters in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, wood fuel imports soared to $X in 2022. Overall, imports saw a prominent expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 407% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Vietnam was the major importer of wood fuel in South-Eastern Asia, with the volume of imports resulting at X cubic meters, which was approx. 85% of total imports in 2022. It was distantly followed by Singapore (X cubic meters), creating a 12% share of total imports. Thailand (X cubic meters) followed a long way behind the leaders.

Imports into Vietnam increased at an average annual rate of +2.3% from 2012 to 2022. At the same time, Thailand (+24.8%) and Singapore (+15.2%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +24.8% from 2012-2022. While the share of Singapore (+8.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported wood fuel in South-Eastern Asia, comprising 67% of total imports. The second position in the ranking was held by Singapore ($X), with a 25% share of total imports.

In Vietnam, wood fuel imports increased at an average annual rate of +10.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (+20.4% per year) and Thailand (+19.0% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per cubic meter, falling by -38.2% against the previous year. Over the period under review, the import price, however, saw prominent growth. The pace of growth was the most pronounced in 2019 an increase of 89% against the previous year. The level of import peaked at $X per cubic meter in 2021, and then dropped dramatically in the following year.

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 Thailand ($X per cubic meter), while Vietnam ($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 Vietnam (+7.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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