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

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

After three years of decline, the Vietnamese market for wood residues, pellets and other agglomerates increased by 1,801% to $X in 2021. In general, consumption enjoyed a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Wood Residues, Pellets And Other Agglomerates in Vietnam

In value terms, production of wood residues, pellets and other agglomerates stood at $X in 2021 estimated in export price. Overall, production showed significant growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 196%. Over the period under review, production of reached the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Wood Residues, Pellets And Other Agglomerates

Exports from Vietnam

In 2021, after five years of growth, there was significant decline in overseas shipments of wood residues, pellets and other agglomerates, when their volume decreased by -14.2% to X cubic meters. Overall, exports, however, posted significant growth. The pace of growth was the most pronounced in 2014 when exports increased by 217%. The exports peaked at X cubic meters in 2020, and then contracted in the following year.

In value terms, exports of wood residues, pellets and other agglomerates rose markedly to $X in 2021. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 214% against the previous year. Over the period under review, the exports of reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

South Korea (X cubic meters) and Japan (X cubic meters) were the main destinations of exports of wood residues, pellets and other agglomerates from Vietnam.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +73.5%).

In value terms, the largest markets for wood residues, pellets and other agglomerates exported from Vietnam were South Korea ($X) and Japan ($X).

Among the main countries of destination, Japan, with a CAGR of +75.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average export price for wood residues, pellets and other agglomerates stood at $X per cubic meter in 2021, surging by 25% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.5%. Over the period under review, the average export prices attained the maximum at $X per cubic meter in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per cubic meter), while the average price for exports to Japan stood at $X per cubic meter.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+1.6%).

Imports of Wood Residues, Pellets And Other Agglomerates

Imports into Vietnam

In 2021, supplies from abroad of wood residues, pellets and other agglomerates increased by 59% to X cubic meters for the first time since 2017, thus ending a three-year declining trend. Overall, imports posted resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of 671%. Over the period under review, imports of hit record highs at X cubic meters in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of wood residues, pellets and other agglomerates skyrocketed to $X in 2021. Over the period under review, imports continue to indicate notable growth. The most prominent rate of growth was recorded in 2014 when imports increased by 696% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

China (X cubic meters), Germany (X cubic meters) and Thailand (X cubic meters) were the main suppliers of imports of wood residues, pellets and other agglomerates to Vietnam, together comprising 96% of total imports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +31.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wood residues, pellets and other agglomerates suppliers to Vietnam were China ($X), Germany ($X) and Thailand ($X), with a combined 92% share of total imports.

Germany, with a CAGR of +29.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for wood residues, pellets and other agglomerates amounted to $X per cubic meter, shrinking by -2.8% against the previous year. In general, the import price saw a slight slump. The most prominent rate of growth was recorded in 2019 an increase of 22%. Over the period under review, average import prices attained the peak figure at $X per cubic meter in 2012; however, from 2013 to 2021, import prices stood at a somewhat 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 the United States ($X per cubic meter), while the price for Thailand ($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 the United States (+17.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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