South-Eastern Asia: Wood Pellets Market 2024

Wood Pellets Market Size in South-Eastern Asia

The Southeast Asian wood pellets market dropped sharply to $X in 2023, reducing by X% against the previous year. Over the period under review, consumption, however, posted significant growth. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Wood Pellets Production in South-Eastern Asia

In value terms, wood pellets production dropped significantly to $X in 2023 estimated in export price. In general, production, however, saw significant growth. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2022, and then fell significantly in the following year.

Wood Pellets Exports

Exports in South-Eastern Asia

After three years of growth, shipments abroad of wood pellets decreased by X% to X tons in 2023. In general, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2022, and then declined modestly in the following year.

In value terms, wood pellets exports contracted remarkably to $X in 2023. Overall, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2022, and then fell notably in the following year.

Exports by Country

In 2023, Vietnam (X tons) was the major exporter of wood pellets, making up X% of total exports. Malaysia (X tons) held the second position in the ranking, followed by Indonesia (X tons). All these countries together held approx. X% share of total exports. Thailand (X tons) followed a long way behind the leaders.

Exports from Vietnam increased at an average annual rate of X% from 2012 to 2023. At the same time, Thailand (X%), Indonesia (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Vietnam increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest wood pellets supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Vietnam amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (X% per year) and Indonesia (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2023, waning by X% against the previous year. Export price indicated a noticeable expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, wood pellets export price increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2022 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell sharply in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Wood Pellets Imports

Imports in South-Eastern Asia

In 2023, imports of wood pellets in South-Eastern Asia surged to X tons, jumping by X% compared with the previous year's figure. In general, imports showed resilient growth. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, wood pellets imports rose modestly to $X in 2023. Overall, imports posted a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The level of import peaked at $X in 2019; afterwards, it flattened through to 2023.

Imports by Country

In 2023, Thailand (X tons) represented the main importer of wood pellets, mixing up X% of total imports. Singapore (X tons) ranks second in terms of the total imports with an X% share, followed by Malaysia (X%), Vietnam (X%) and the Philippines (X%).

Imports into Thailand increased at an average annual rate of X% from 2012 to 2023. At the same time, Vietnam (X%), the Philippines (X%), Malaysia (X%) and Singapore (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Vietnam, the Philippines, Malaysia and Singapore increased by X, X, X and X percentage points, respectively.

In value terms, Malaysia ($X), Thailand ($X) and Singapore ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Vietnam and the Philippines lagged somewhat behind, together comprising a further X%.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in South-Eastern Asia amounted to $X per ton, declining by X% against the previous year. Overall, the import price saw a perceptible reduction. The growth pace was the most rapid in 2019 an increase of X%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform