South-Eastern Asia: Wood Pellets Market 2024

Wood Pellets Market Size in South-Eastern Asia

The Southeast Asian wood pellets market reduced remarkably to $X in 2022, waning by -29.9% against the previous year. Over the period under review, consumption, however, posted significant growth. Over the period under review, the market attained the peak level at $X in 2021, and then reduced notably in the following year.

Wood Pellets Production in South-Eastern Asia

In value terms, wood pellets production contracted to $X in 2022 estimated in export price. In general, production, however, saw a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 318%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Wood Pellets Exports

Exports in South-Eastern Asia

In 2022, approx. X tons of wood pellets were exported in South-Eastern Asia; picking up by 7.8% on 2021. In general, exports saw significant growth. The pace of growth was the most pronounced in 2014 with an increase of 271%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, wood pellets exports shrank to $X in 2022. Overall, exports enjoyed a significant expansion. The growth pace was the most rapid in 2014 when exports increased by 315%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam represented the largest exporting country with an export of about X tons, which finished at 73% of total exports. Malaysia (X tons) ranks second in terms of the total exports with a 15% share, followed by Indonesia (10%).

Vietnam was also the fastest-growing in terms of the wood pellets exports, with a CAGR of +55.8% from 2012 to 2022. At the same time, Indonesia (+41.9%) and Malaysia (+32.1%) displayed positive paces of growth. Vietnam (+33 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Malaysia saw its share reduced by -4.2% and -28.8% from 2012 to 2022, respectively.

In value terms, Vietnam ($X) remains the largest wood pellets supplier in South-Eastern Asia, comprising 78% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 13% share of total exports.

In Vietnam, wood pellets exports increased at an average annual rate of +55.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+29.5% per year) and Indonesia (+41.0% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, dropping by -8.5% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 19% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Indonesia ($X per ton) 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 Pellets Imports

Imports in South-Eastern Asia

In 2022, the amount of wood pellets imported in South-Eastern Asia plummeted to X tons, with a decrease of -27.6% compared with the year before. Over the period under review, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 157%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, wood pellets imports fell sharply to $X in 2022. In general, imports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2021 with an increase of 38%. As a result, imports attained the peak of $X, and then contracted notably in the following year.

Imports by Country

In 2022, Thailand (X tons) was the largest importer of wood pellets, achieving 67% of total imports. Singapore (X tons) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (8.7%) and Vietnam (7.8%).

From 2012 to 2022, average annual rates of growth with regard to wood pellets imports into Thailand stood at +7.3%. At the same time, Vietnam (+43.6%), Singapore (+16.0%) and Malaysia (+3.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +43.6% from 2012-2022. Singapore (+7.8 p.p.) and Vietnam (+7.4 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia and Thailand saw its share reduced by -5.5% and -5.8% from 2012 to 2022, respectively.

In value terms, Malaysia ($X), Singapore ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2022, together comprising 86% of total imports. These countries were followed by Vietnam, which accounted for a further 10%.

Vietnam, with a CAGR of +20.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, increasing by 6% against the previous year. Overall, the import price, however, saw a noticeable decrease. The growth pace was the most rapid in 2013 when the import price increased by 174%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a 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 Malaysia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+1.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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