Vietnam: Wood Pulp Market 2024

Wood Pulp Market Size in Vietnam

The Vietnamese wood pulp market shrank slightly to $X in 2022, which is down by X% against the previous year. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2021, and then declined modestly in the following year.

Wood Pulp Production in Vietnam

In value terms, wood pulp production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a mild increase. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Wood pulp production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Wood Pulp Exports

Exports from Vietnam

Wood pulp exports from Vietnam expanded markedly to X tons in 2022, surging by X% on the year before. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, wood pulp exports rose sharply to $X in 2022. In general, exports enjoyed pronounced growth. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

China (X tons) was the main destination for wood pulp exports from Vietnam, with a X% share of total exports. Moreover, wood pulp exports to China exceeded the volume sent to the second major destination, Indonesia (X tons), fivefold. The third position in this ranking was taken by Hong Kong SAR (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Hong Kong SAR (X% per year).

In value terms, China ($X) remains the key foreign market for wood pulp exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

The average wood pulp export price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then contracted modestly in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Pulp Imports

Imports into Vietnam

In 2022, after four years of growth, there was significant decline in supplies from abroad of wood pulp, when their volume decreased by X% to X tons. In general, imports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, wood pulp imports fell to $X in 2022. Overall, imports, however, continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2018 with an increase of X%. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest supplier of wood pulp to Vietnam, accounting for a X% share of total imports. Moreover, wood pulp imports from Indonesia exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Canada (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Canada (X% per year).

In value terms, the largest wood pulp suppliers to Vietnam were Indonesia ($X), the United States ($X) and Canada ($X), with a combined X% share of total imports. Russia, Singapore, France, Brazil, Chile, Sweden, Thailand, the Netherlands, New Zealand and Germany lagged somewhat behind, together comprising a further X%.

France, with a CAGR of X%, saw the highest growth rate of 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

The average wood pulp import price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices failed to regain momentum.

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 Germany ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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