Asia-Pacific: Wood Barrel Market 2023

Wood Barrel Market Size in Asia-Pacific

The Asia-Pacific wood barrel market expanded to $X in 2022, picking up by 3% against the previous year. The market value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. Over the period under review, the market hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Wood Barrel Production in Asia-Pacific

In value terms, wood barrel production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 26% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Wood Barrel Exports

Exports in Asia-Pacific

Wood barrel exports dropped to X units in 2022, waning by -12.2% compared with the previous year. Total exports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +6.6% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 43%. The volume of export peaked at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, wood barrel exports dropped to $X in 2022. Overall, exports, however, recorded a strong expansion. The growth pace was the most rapid in 2019 when exports increased by 51%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Vietnam (X units), China (X units) and Thailand (X units) was the main exporter of casks, barrels, vats, tubs, and coopers products of wood in Asia-Pacific, constituting 75% of total export. Australia (X units) held the next position in the ranking, distantly followed by Japan (X units). All these countries together took near 19% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of +15.9%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), China ($X) and Australia ($X) constituted the countries with the highest levels of exports in 2022, with a combined 81% share of total exports. These countries were followed by Japan and Thailand, which together accounted for a further 13%.

In terms of the main exporting countries, Japan, with a CAGR of +24.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, shrinking by -2.1% against the previous year. Overall, the export price, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2019 an increase of 33%. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+22.4%), while the other leaders experienced more modest paces of growth.

Wood Barrel Imports

Imports in Asia-Pacific

Wood barrel imports reduced to X units in 2022, almost unchanged from the previous year. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +94.4% against 2013 indices. The growth pace was the most rapid in 2017 when imports increased by 27% against the previous year. Over the period under review, imports reached the peak figure at X units in 2021, and then fell in the following year.

In value terms, wood barrel imports reduced to $X in 2022. Total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +24.7% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 26%. As a result, imports attained the peak of $X, and then contracted slightly in the following year.

Imports by Country

Japan represented the main importing country with an import of around X units, which amounted to 44% of total imports. It was distantly followed by Australia (X units) and China (X units), together comprising a 44% share of total imports. The following importers - New Zealand (X units) and India (X units) - each recorded an 8% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +14.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wood barrel importing markets in Asia-Pacific were Japan ($X), Australia ($X) and China ($X), together accounting for 87% of total imports.

Among the main importing countries, China, with a CAGR of +9.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, therefore, remained relatively stable against the previous year. In general, the import price saw a mild decrease. The growth pace was the most rapid in 2016 an increase of 12%. Over the period under review, import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+4.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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