Southern Asia: Wood Flat Pallet Market 2024

Wood Flat Pallet Market Size in Southern Asia

The South Asian wood flat pallet market expanded remarkably to $X in 2021, growing by 12% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Wood Flat Pallet Production in Southern Asia

In value terms, wood flat pallet production surged to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 19%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Wood Flat Pallet Exports

Exports in Southern Asia

In 2021, wood flat pallet exports in Southern Asia dropped remarkably to X units, falling by -21% compared with 2020 figures. Overall, exports, however, posted a buoyant increase. The growth pace was the most rapid in 2020 with an increase of 108%. As a result, the exports attained the peak of X units, and then contracted rapidly in the following year.

In value terms, wood flat pallet exports skyrocketed to $X in 2021. In general, exports, however, enjoyed a slight expansion. The growth pace was the most rapid in 2013 with an increase of 250% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

India prevails in exports structure, resulting at X units, which was approx. 88% of total exports in 2021. Nepal (X units) took a 5.8% share (based on physical terms) of total exports, which put it in second place, followed by Sri Lanka (4.9%).

From 2012 to 2021, average annual rates of growth with regard to wood flat pallet exports from India stood at +4.7%. At the same time, Nepal (+17.2%) and Sri Lanka (+15.9%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +17.2% from 2012-2021. Nepal (+3.5 p.p.) and Sri Lanka (+2.8 p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by -7.2% from 2012 to 2021, respectively.

In value terms, India ($X) remains the largest wood flat pallet supplier in Southern Asia, comprising 96% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a 1.8% share of total exports.

In India, wood flat pallet exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Sri Lanka (+1.8% per year) and Nepal (-1.8% per year).

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per unit, growing by 67% against the previous year. Overall, the export price, however, recorded a noticeable setback. The most prominent rate of growth was recorded in 2013 an increase of 73%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per unit), while Nepal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-3.6%), while the other leaders experienced a decline in the export price figures.

Wood Flat Pallet Imports

Imports in Southern Asia

After two years of decline, purchases abroad of flat pallets and pallet collars of wood increased by 56% to X units in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 68%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, wood flat pallet imports surged to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India dominates imports structure, reaching X units, which was approx. 95% of total imports in 2021. Sri Lanka (X units) held a minor share of total imports.

India was also the fastest-growing in terms of the flat pallets and pallet collars of wood imports, with a CAGR of +10.3% from 2012 to 2021. Sri Lanka (-10.1%) illustrated a downward trend over the same period. While the share of India (+22 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Sri Lanka (-16.9 p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported flat pallets and pallet collars of wood in Southern Asia, comprising 91% of total imports. The second position in the ranking was taken by Sri Lanka ($X), with an 8.7% share of total imports.

In India, wood flat pallet imports expanded at an average annual rate of +6.4% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per unit, reducing by -3.2% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the import price increased by 77% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sri Lanka ($X per unit), while India amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+21.7%).

Source: IndexBox Platform

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