ASEAN: Wood Tool Market 2024

Wood Tool Market Size in ASEAN

The ASEAN wood tool market dropped slightly to $X in 2023, approximately reflecting the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2023, consumption stood at a somewhat lower figure.

Wood Tool Production in ASEAN

In value terms, wood tool production reduced slightly to $X in 2023 estimated in export price. The total production indicated a pronounced increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

Wood Tool Exports

Exports in ASEAN

In 2023, overseas shipments of tools of wood decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. In general, exports, however, posted notable growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. The volume of export peaked at X tons in 2022, and then declined dramatically in the following year.

In value terms, wood tool exports contracted to $X in 2023. Total exports indicated a perceptible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2022, and then contracted in the following year.

Exports by Country

In 2023, Vietnam (X tons) represented the largest exporter of tools of wood, creating X% of total exports. It was distantly followed by Indonesia (X tons), committing a X% share of total exports.

Vietnam was also the fastest-growing in terms of the tools of wood exports, with a CAGR of X% from 2012 to 2023. Indonesia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Vietnam increased by X percentage points.

In value terms, Vietnam ($X) remains the largest wood tool supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Vietnam totaled X%.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, rising by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Indonesia ($X per ton), while Vietnam totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%).

Wood Tool Imports

Imports in ASEAN

In 2023, after two years of growth, there was significant decline in supplies from abroad of tools of wood, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of import peaked at X tons in 2022, and then reduced remarkably in the following year.

In value terms, wood tool imports shrank notably to $X in 2023. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 with an increase of X%. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

Malaysia represented the main importing country with an import of around X tons, which amounted to X% of total imports. It was distantly followed by Indonesia (X tons), constituting a X% share of total imports. Vietnam (X tons), Singapore (X tons) and Thailand (X tons) held a minor share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Malaysia (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Indonesia ($X) constitutes the largest market for imported tools of wood in ASEAN, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports. It was followed by Vietnam, with a X% share.

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

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, declining by X% against the previous year. Overall, the import price continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

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 Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform