Vietnam: Wood Flat Pallet Market 2024

Wood Flat Pallet Market Size in Vietnam

The Vietnamese wood flat pallet market surged to $X in 2021, jumping by 26% against the previous year. Over the period under review, consumption, however, saw a noticeable curtailment. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Wood Flat Pallet Production in Vietnam

In value terms, wood flat pallet production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, showed a slight decline. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Wood Flat Pallet Exports

Exports from Vietnam

In 2021, shipments abroad of flat pallets and pallet collars of wood decreased by -6.1% to X units for the first time since 2016, thus ending a four-year rising trend. In general, exports showed a mild decline. The most prominent rate of growth was recorded in 2014 with an increase of 35%. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, wood flat pallet exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a modest expansion. The pace of growth was the most pronounced in 2014 when exports increased by 44%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units), South Korea (X units) and Germany (X units) were the main destinations of wood flat pallet exports from Vietnam, together comprising 38% of total exports. These countries were followed by Japan, Singapore, Denmark, the Netherlands, the UK, Canada, Cambodia, Taiwan (Chinese), Italy and China, which together accounted for a further 23%.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +89.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wood flat pallet exported from Vietnam were the United States ($X), South Korea ($X) and Germany ($X), together comprising 23% of total exports. These countries were followed by Japan, Singapore, Denmark, the Netherlands, the UK, Canada, Cambodia, Taiwan (Chinese), Italy and China, which together accounted for a further 14%.

Among the main countries of destination, Singapore, with a CAGR of +87.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wood flat pallet export price stood at $X per unit in 2021, growing by 33% against the previous year. Overall, the export price posted a measured increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were the United States ($X per unit) and China ($X per unit), while the average price for exports to Singapore ($X per unit) and the UK ($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 Denmark (-1.2%), while the prices for the other major destinations experienced a decline.

Wood Flat Pallet Imports

Imports into Vietnam

Wood flat pallet imports into Vietnam fell significantly to X units in 2021, waning by -72.1% against 2020. Overall, imports, however, posted a modest expansion. The most prominent rate of growth was recorded in 2020 with an increase of 194% against the previous year. Over the period under review, imports attained the peak figure at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, wood flat pallet imports dropped markedly to $X in 2021. In general, imports, however, saw a moderate expansion. The most prominent rate of growth was recorded in 2020 with an increase of 182%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Singapore (X units), China (X units) and South Korea (X units) were the main suppliers of wood flat pallet imports to Vietnam, together accounting for 90% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +32.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wood flat pallet suppliers to Vietnam were China ($X), Singapore ($X) and South Korea ($X), together accounting for 88% of total imports.

Among the main suppliers, Singapore, with a CAGR of +30.6%, recorded the highest growth rate of the value of imports, 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 wood flat pallet import price amounted to $X per unit, rising by 40% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Thailand ($X per unit) and Latvia ($X per unit), while the price for Singapore ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Latvia (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :