Uruguay: Wood Flat Pallet Market 2024

Wood Flat Pallet Market Size in Uruguay

In 2021, the Uruguayan wood flat pallet market increased by 4% to $X, rising for the fourth year in a row after two years of decline. In general, the total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +74.8% against 2017 indices. Over the period under review, the market reached the peak level in 2021 and is likely to see steady growth in years to come.

Wood Flat Pallet Production in Uruguay

In value terms, wood flat pallet production totaled $X in 2021 estimated in export price. Over the period under review, production, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by 33% against the previous year. Wood flat pallet production peaked in 2021 and is likely to see steady growth in years to come.

Wood Flat Pallet Exports

Exports from Uruguay

After two years of decline, shipments abroad of flat pallets and pallet collars of wood increased by 32% to X units in 2021. Overall, total exports indicated a mild increase from 2012 to 2021: its volume increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when exports increased by 50%. As a result, the exports attained the peak of X units. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, wood flat pallet exports skyrocketed to $X in 2021. In general, exports posted a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X units), Italy (X units) and Austria (X units) were the main destinations of wood flat pallet exports from Uruguay, together accounting for 12% of total exports.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +220.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wood flat pallet exported from Uruguay were Singapore ($X), Italy ($X) and Austria ($X), with a combined 3.2% share of total exports.

Singapore, with a CAGR of +242.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average wood flat pallet export price amounted to $X per unit, picking up by 27% against the previous year. In general, the export price posted strong growth. The pace of growth appeared the most rapid in 2019 an increase of 71% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Austria ($X per unit) and Singapore ($X per unit), while the average price for exports to Italy ($X per unit) and Switzerland ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+7.2%), while the prices for the other major destinations experienced a decline.

Wood Flat Pallet Imports

Imports into Uruguay

In 2021, approx. X units of flat pallets and pallet collars of wood were imported into Uruguay; waning by -24.3% compared with 2020 figures. Overall, imports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 1,822% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, wood flat pallet imports soared to $X in 2021. Over the period under review, imports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of 2,073% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Finland (X units), Chile (X units) and Spain (X units) were the main suppliers of wood flat pallet imports to Uruguay.

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +267.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of flat pallets and pallet collars of wood to Uruguay, comprising 107% of total imports. The second position in the ranking was held by Chile ($X), with a 30% share of total imports. It was followed by Finland, with a 24% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea stood at +32.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+30.3% per year) and Finland (+180.2% per year).

Import Prices by Country

The average wood flat pallet import price stood at $X per unit in 2021, increasing by 188% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 395%. Over the period under review, average import prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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 South Korea ($X per unit), while the price for Lithuania ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+23.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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