Vietnam: Industrial Roundwood (Coniferous) Market 2024

Industrial Roundwood (Coniferous) Market Size in Vietnam

After ten years of growth, the Vietnamese industrial roundwood (coniferous) market decreased by -9.3% to $X in 2022. Overall, consumption enjoyed a strong expansion. Over the period under review, the market attained the peak level at $X in 2021, and then contracted in the following year.

Industrial Roundwood (Coniferous) Production in Vietnam

In value terms, industrial roundwood (coniferous) production declined to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a significant expansion. The growth pace was the most rapid in 2020 when the production volume increased by 59%. Industrial roundwood (coniferous) production peaked at $X in 2021, and then declined in the following year.

Industrial Roundwood (Coniferous) Exports

Exports from Vietnam

In 2022, approx. X cubic meters of industrial roundwood (coniferous) were exported from Vietnam; picking up by 282% on the previous year. In general, exports showed a remarkable increase. The growth pace was the most rapid in 2020 when exports increased by 818% against the previous year. Over the period under review, the exports hit record highs at X cubic meters in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, industrial roundwood (coniferous) exports reached $X in 2022. Overall, exports showed a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 1,052%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Taiwan (Chinese) (X cubic meters) was the main destination for industrial roundwood (coniferous) exports from Vietnam, with a 74% share of total exports. Moreover, industrial roundwood (coniferous) exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, China (X cubic meters), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Taiwan (Chinese) stood at +13.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+15.5% per year) and South Korea (+137.8% per year).

In value terms, the largest markets for industrial roundwood (coniferous) exported from Vietnam were Taiwan (Chinese) ($X), China ($X) and South Korea ($X).

South Korea, with a CAGR of +339.2%, recorded the highest growth rate of 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 2022, the average industrial roundwood (coniferous) export price amounted to $X per cubic meter, falling by -73.4% against the previous year. Overall, the export price, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 435%. As a result, the export price reached the peak level of $X per cubic meter, and then fell rapidly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+84.6%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Roundwood (Coniferous) Imports

Imports into Vietnam

In 2022, the amount of industrial roundwood (coniferous) imported into Vietnam expanded significantly to X cubic meters, growing by 7.3% compared with the previous year's figure. In general, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by 85% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, industrial roundwood (coniferous) imports totaled $X in 2022. Over the period under review, imports showed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 97%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the United States (X cubic meters) constituted the largest supplier of industrial roundwood (coniferous) to Vietnam, accounting for a 70% share of total imports. Moreover, industrial roundwood (coniferous) imports from the United States exceeded the figures recorded by the second-largest supplier, Japan (X cubic meters), more than tenfold. The third position in this ranking was held by Australia (X cubic meters), with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +27.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+4.1% per year) and Australia (+74.6% per year).

In value terms, the United States ($X) constituted the largest supplier of industrial roundwood (coniferous) to Vietnam, comprising 62% of total imports. The second position in the ranking was held by Japan ($X), with a 10% share of total imports. It was followed by Australia, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +30.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+18.7% per year) and Australia (+60.3% per year).

Import Prices by Country

The average industrial roundwood (coniferous) import price stood at $X per cubic meter in 2022, remaining relatively unchanged against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 28% against the previous year. The import price peaked at $X per cubic meter in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per cubic meter), while the price for New Zealand ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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