Asia-Pacific: Wood Flat Pallet Market 2024

Wood Flat Pallet Market Size in Asia-Pacific

After two years of growth, the Asia-Pacific wood flat pallet market decreased by X% to $X in 2023. The total consumption indicated a temperate 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, consumption increased by X% against 2012 indices. Over the period under review, the market attained the maximum level at $X in 2022, and then shrank modestly in the following year.

Wood Flat Pallet Production in Asia-Pacific

In value terms, wood flat pallet production fell to $X in 2023 estimated in export price. The total production indicated a noticeable 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, production increased by X% against 2012 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2022, and then reduced modestly in the following year.

Wood Flat Pallet Exports

Exports in Asia-Pacific

In 2023, overseas shipments of flat pallets and pallet collars of wood increased by X% to X units for the first time since 2020, thus ending a two-year declining trend. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The volume of export peaked at X units in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, wood flat pallet exports contracted notably to $X in 2023. Total exports indicated perceptible growth 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. The growth pace was the most rapid in 2021 with an increase of X%. The level of export peaked at $X in 2022, and then fell rapidly in the following year.

Exports by Country

The shipments of the three major exporters of flat pallets and pallet collars of wood, namely Malaysia, Singapore and China, represented more than two-thirds of total export. Vietnam (X units) held the next position in the ranking, followed by South Korea (X units). All these countries together held near X% share of total exports. The following exporters - Thailand (X units) and Hong Kong SAR (X units) - each accounted for a X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Singapore (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

Hong Kong SAR, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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 2023, falling by X% against the previous year. Export price indicated mild growth from 2012 to 2023: its price 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. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2022, and then dropped rapidly 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 China ($X per unit), while Singapore ($X per unit) was amongst the lowest.

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

Wood Flat Pallet Imports

Imports in Asia-Pacific

After two years of decline, purchases abroad of flat pallets and pallet collars of wood increased by X% to X units in 2023. Overall, imports enjoyed a perceptible increase. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, wood flat pallet imports contracted rapidly to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Singapore represented the largest importer of flat pallets and pallet collars of wood in Asia-Pacific, with the volume of imports amounting to X units, which was approx. X% of total imports in 2023. Malaysia (X units) took the second position in the ranking, followed by South Korea (X units), Hong Kong SAR (X units), India (X units) and China (X units). All these countries together held near X% share of total imports. Thailand (X units) followed a long way behind the leaders.

Singapore experienced a relatively flat trend pattern with regard to volume of imports of flat pallets and pallet collars of wood. At the same time, Malaysia (X%), Thailand (X%), China (X%), South Korea (X%), Hong Kong SAR (X%) and India (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2023. While the share of Malaysia (X p.p.), South Korea (X p.p.), China (X p.p.), Thailand (X p.p.) and Hong Kong SAR (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Singapore (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported flat pallets and pallet collars of wood in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by India ($X), with an X% share of total imports. It was followed by South Korea, with a X% share.

In Singapore, wood flat pallet imports remained relatively stable over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: India (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2023, falling by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2022, and then contracted sharply in the following year.

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 India ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform