Asia-Pacific: Wood Box Market 2023

Wood Box Market Size in Asia-Pacific

The Asia-Pacific wood box market reduced to $X in 2021, dropping by -6.8% against the previous year. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +76.0% against 2012 indices. As a result, consumption reached the peak level of $X, and then declined in the following year.

Wood Box Production in Asia-Pacific

In value terms, wood box production dropped to $X in 2021 estimated in export price. The total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +75.1% against 2013 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 16% against the previous year. As a result, production attained the peak level of $X, and then fell in the following year.

Wood Box Exports

Exports in Asia-Pacific

In 2021, overseas shipments of cases, boxes, crates, drums and similar packings of wood were finally on the rise to reach X units after three years of decline. Overall, exports, however, recorded a deep slump. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, wood box exports skyrocketed to $X in 2021. In general, exports, however, showed a relatively flat trend pattern. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China (X units) and India (X units) represented roughly 59% of total exports in 2021. It was distantly followed by Hong Kong SAR (X units) and Vietnam (X units), together mixing up a 21% share of total exports. The following exporters - Malaysia (X units), Thailand (X units), Australia (X units), Taiwan (Chinese) (X units), the Philippines (X units), Singapore (X units) and Indonesia (X units) - together made up 19% of total exports.

From 2012 to 2021, the biggest increases were in the Philippines (with a CAGR of +56.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest wood box supplier in Asia-Pacific, comprising 46% of total exports. The second position in the ranking was held by India ($X), with a 12% share of total exports. It was followed by Taiwan (Chinese), with an 8.5% share.

In China, wood box exports remained relatively stable over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: India (+1.2% per year) and Taiwan (Chinese) (+19.1% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per unit, waning by -8.7% against the previous year. Over the period under review, the export price, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2018 an increase of 109% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2020, and then dropped in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Indonesia ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.1%), while the other leaders experienced more modest paces of growth.

Wood Box Imports

Imports in Asia-Pacific

In 2021, the amount of cases, boxes, crates, drums and similar packings of wood imported in Asia-Pacific rose sharply to X units, increasing by 13% compared with the previous year's figure. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 37% against the previous year. Over the period under review, imports attained the peak figure at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, wood box imports soared to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +88.5% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 54% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

South Korea was the largest importing country with an import of around X units, which accounted for 40% of total imports. It was distantly followed by Australia (X units), Hong Kong SAR (X units), Singapore (X units), Japan (X units) and Malaysia (X units), together committing a 46% share of total imports. Indonesia (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to wood box imports into South Korea stood at +9.1%. At the same time, Indonesia (+19.4%), Singapore (+13.8%), Australia (+10.5%) and Malaysia (+6.5%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +19.4% from 2012-2021. By contrast, Japan (-3.2%) and Hong Kong SAR (-10.1%) illustrated a downward trend over the same period. South Korea (+18 p.p.), Australia (+7.1 p.p.), Singapore (+5.3 p.p.), Indonesia (+2.5 p.p.) and Malaysia (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Japan and Hong Kong SAR saw its share reduced by -3.5% and -25.3% from 2012 to 2021, respectively.

In value terms, South Korea ($X) constitutes the largest market for imported cases, boxes, crates, drums and similar packings of wood in Asia-Pacific, comprising 41% of total imports. The second position in the ranking was held by Japan ($X), with a 17% share of total imports. It was followed by Australia, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value in South Korea stood at +20.8%. In the other countries, the average annual rates were as follows: Japan (+1.7% per year) and Australia (+13.9% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per unit, surging by 8.7% against the previous year. Import price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wood box import price increased by +63.9% against 2017 indices. The growth pace was the most rapid in 2019 an increase of 24% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+10.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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