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

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

In 2021, the Vietnamese market for wood chips, parts, residues, pellets and other agglomerates was finally on the rise to reach $X after four years of decline. Over the period under review, consumption, however, saw a perceptible decline. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Wood Chips, Parts, Residues, Pellets And Other Agglomerates in Vietnam

In value terms, production of wood chips, parts, residues, pellets and other agglomerates reached $X in 2021 estimated in export price. Over the period under review, production continues to indicate a significant increase. The growth pace was the most rapid in 2014 when the production volume increased by 185% against the previous year. Over the period under review, production of attained the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Wood Chips, Parts, Residues, Pellets And Other Agglomerates

Exports from Vietnam

In 2021, the amount of wood chips, parts, residues, pellets and other agglomerates exported from Vietnam totaled X cubic meters, picking up by 6.7% on the previous year. Over the period under review, exports posted a buoyant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 85%. Over the period under review, the exports of attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, exports of wood chips, parts, residues, pellets and other agglomerates surged to $X in 2021. In general, exports saw a strong expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 39% against the previous year. Over the period under review, the exports of attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

China (X cubic meters) was the main destination for exports of wood chips, parts, residues, pellets and other agglomerates from Vietnam, with a 66% share of total exports. Moreover, exports of wood chips, parts, residues, pellets and other agglomerates to China exceeded the volume sent to the second major destination, South Korea (X cubic meters), fourfold.

From 2012 to 2021, the average annual growth rate of volume to China amounted to +7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+36.4% per year) and Japan (+33.3% per year).

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the largest markets for wood chips, parts, residues, pellets and other agglomerates exported from Vietnam worldwide, with a combined 99% share of total exports.

Among the main countries of destination, South Korea, with a CAGR of +18.9%, recorded the highest rates of growth with regard to 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 export price for wood chips, parts, residues, pellets and other agglomerates stood at $X per cubic meter in 2021, growing by 8.3% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 54% against the previous year. As a result, the export price reached the peak level of $X per cubic meter. From 2017 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per cubic meter), while the average price for exports to China ($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 China (+2.0%), while the prices for the other major destinations experienced a decline.

Imports of Wood Chips, Parts, Residues, Pellets And Other Agglomerates

Imports into Vietnam

In 2021, approx. X cubic meters of wood chips, parts, residues, pellets and other agglomerates were imported into Vietnam; increasing by 38% against the previous year's figure. Overall, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 143% against the previous year. Imports peaked at X cubic meters in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, imports of wood chips, parts, residues, pellets and other agglomerates skyrocketed to $X in 2021. Over the period under review, imports showed a moderate increase. The pace of growth appeared the most rapid in 2019 when imports increased by 110% against the previous year. Over the period under review, imports of hit record highs at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

China (X cubic meters), Germany (X cubic meters) and Thailand (X cubic meters) were the main suppliers of imports of wood chips, parts, residues, pellets and other agglomerates to Vietnam, together comprising 89% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +40.1%), while imports for the other leaders experienced more modest paces of growth.

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

Among the main suppliers, Germany, with a CAGR of +34.5%, saw 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 import price for wood chips, parts, residues, pellets and other agglomerates amounted to $X per cubic meter, with an increase of 21% against the previous year. Overall, the import price, however, saw a perceptible decrease. The pace of growth appeared the most rapid in 2019 when the average import price increased by 34%. The import price peaked at $X per cubic meter in 2012; however, from 2013 to 2021, 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 Germany ($X per cubic meter), while the price for the United States ($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 China (-1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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