Vietnam: Wood Fuel Market 2025

Wood Fuel Market Size in Vietnam

The Vietnamese wood fuel market was estimated at $X in 2022, approximately equating the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Wood Fuel Production in Vietnam

In value terms, wood fuel production totaled $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 109%. Wood fuel production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Wood Fuel Exports

Exports from Vietnam

In 2022, overseas shipments of wood fuel increased by 207% to X cubic meters, rising for the second year in a row after two years of decline. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 576%. Over the period under review, the exports attained the maximum at X cubic meters in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, wood fuel exports surged to $X in 2022. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 331%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X cubic meters) was the main destination for wood fuel exports from Vietnam, with a 77% share of total exports. Moreover, wood fuel exports to Japan exceeded the volume sent to the second major destination, Taiwan (Chinese) (X cubic meters), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Japan stood at +154.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+9.4% per year) and China (+1.8% per year).

In value terms, Japan ($X) remains the key foreign market for wood fuel exports from Vietnam, comprising 78% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Japan totaled +159.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+10.6% per year) and China (+3.3% per year).

Export Prices by Country

The average wood fuel export price stood at $X per cubic meter in 2022, approximately equating the previous year. Overall, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood fuel export price increased by +100.6% against 2017 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by 75% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per cubic meter), while the average price for exports to Taiwan (Chinese) ($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 Lao People's Democratic Republic (+118.4%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Fuel Imports

Imports into Vietnam

In 2022, supplies from abroad of wood fuel increased by 831% to X cubic meters, rising for the second year in a row after two years of decline. Overall, imports saw a moderate increase. Over the period under review, imports attained the maximum at X cubic meters in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, wood fuel imports skyrocketed to $X in 2022. In general, imports showed buoyant growth. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X cubic meters), Cambodia (X cubic meters) and Indonesia (X cubic meters) were the main suppliers of wood fuel imports to Vietnam.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +34.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X), Cambodia ($X) and Indonesia ($X) constituted the largest wood fuel suppliers to Vietnam.

Indonesia, with a CAGR of +40.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wood fuel import price stood at $X per cubic meter in 2022, increasing by 7.4% against the previous year. Overall, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood fuel import price decreased by -13.7% against 2020 indices. The growth pace was the most rapid in 2013 when the average import price increased by 50%. The import price peaked at $X per cubic meter in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per cubic meter), while the price for Indonesia ($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 Lao People's Democratic Republic (+39.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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