Thailand: Market for Wood Residues, Pellets And Other Agglomerates 2024

Market Size for Wood Residues, Pellets And Other Agglomerates in Thailand

The Thai market for wood residues, pellets and other agglomerates soared to $X in 2021, picking up by 103% against the previous year. Over the period under review, consumption recorded moderate growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Wood Residues, Pellets And Other Agglomerates in Thailand

In value terms, production of wood residues, pellets and other agglomerates surged to $X in 2021 estimated in export price. Overall, production recorded a prominent expansion. The pace of growth was the most pronounced in 2014 when the production volume increased by 286%. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Wood Residues, Pellets And Other Agglomerates

Exports from Thailand

In 2021, overseas shipments of wood residues, pellets and other agglomerates decreased by -55.2% to X cubic meters, falling for the third year in a row after three years of growth. In general, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 401%. Over the period under review, the exports of hit record highs at X cubic meters in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, exports of wood residues, pellets and other agglomerates shrank markedly to $X in 2021. Over the period under review, exports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2014 with an increase of 289%. Over the period under review, the exports of hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

South Korea (X cubic meters) was the main destination for exports of wood residues, pellets and other agglomerates from Thailand, with a 66% share of total exports. Moreover, exports of wood residues, pellets and other agglomerates to South Korea exceeded the volume sent to the second major destination, Lebanon (X cubic meters), fourfold. The third position in this ranking was taken by Australia (X cubic meters), with a 4% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea stood at +30.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lebanon (+1.8% per year) and Australia (+6.1% per year).

In value terms, South Korea ($X) remains the key foreign market for wood residues, pellets and other agglomerates exports from Thailand, comprising 53% of total exports. The second position in the ranking was taken by Lebanon ($X), with a 20% share of total exports. It was followed by Israel, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea amounted to +33.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lebanon (-0.8% per year) and Israel (+38.0% per year).

Export Prices by Country

The average export price for wood residues, pellets and other agglomerates stood at $X per cubic meter in 2021, with an increase of 30% against the previous year. Over the period under review, the export price, however, showed a pronounced decrease. The most prominent rate of growth was recorded in 2015 an increase of 37% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per cubic meter in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per cubic meter), while the average price for exports to Japan ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+2.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Wood Residues, Pellets And Other Agglomerates

Imports into Thailand

In 2021, supplies from abroad of wood residues, pellets and other agglomerates was finally on the rise to reach X cubic meters after two years of decline. Over the period under review, imports, however, saw a relatively flat trend pattern. Over the period under review, imports of hit record highs at X cubic meters in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, imports of wood residues, pellets and other agglomerates soared to $X in 2021. In general, imports, however, recorded a pronounced reduction. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Malaysia (X cubic meters) constituted the largest wood residues, pellets and other agglomerates supplier to Thailand, accounting for a 75% share of total imports. Moreover, imports of wood residues, pellets and other agglomerates from Malaysia exceeded the figures recorded by the second-largest supplier, China (X cubic meters), sevenfold. The third position in this ranking was taken by Germany (X cubic meters), with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia totaled -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+36.7% per year) and Germany (+22.4% per year).

In value terms, Malaysia ($X) constituted the largest supplier of wood residues, pellets and other agglomerates to Thailand, comprising 43% of total imports. The second position in the ranking was held by China ($X), with a 15% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Malaysia totaled -8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.1% per year) and Germany (+9.0% per year).

Import Prices by Country

In 2021, the average import price for wood residues, pellets and other agglomerates amounted to $X per cubic meter, dropping by -13.2% against the previous year. In general, the import price saw a pronounced reduction. The pace of growth was the most pronounced in 2015 an increase of 42% against the previous year. Over the period under review, average import prices hit record highs at $X per cubic meter in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per cubic meter), while the price for Singapore (less than $X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-5.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :