Asia-Pacific: Market for Wood Pellets And Other Agglomerates 2023

Market Size for Wood Pellets And Other Agglomerates in Asia-Pacific

The Asia-Pacific market for wood pellets and other agglomerates surged to $X in 2022, jumping by 34% against the previous year. In general, consumption continues to indicate significant growth. The level of consumption peaked in 2022 and is likely to continue growth in years to come.

Production of Wood Pellets And Other Agglomerates in Asia-Pacific

In value terms, wood pellets and other agglomerates production stood at $X in 2022 estimated in export price. Over the period under review, production, however, recorded significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 99%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Wood Pellets And Other Agglomerates

Exports in Asia-Pacific

In 2022, exports of wood pellets and other agglomerates in Asia-Pacific rose rapidly to X tons, growing by 6.9% on the year before. In general, exports enjoyed a significant expansion. The growth pace was the most rapid in 2014 with an increase of 141% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, wood pellets and other agglomerates exports declined slightly to $X in 2022. Overall, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 142% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Vietnam (X tons) represented the largest exporter of wood pellets and other agglomerates, generating 73% of total exports. Malaysia (X tons) held the second position in the ranking, followed by Indonesia (X tons). All these countries together took approx. 24% share of total exports.

Vietnam was also the fastest-growing in terms of the wood pellets and other agglomerates exports, with a CAGR of +35.3% from 2012 to 2022. At the same time, Indonesia (+29.5%) and Malaysia (+22.4%) displayed positive paces of growth. From 2012 to 2022, the share of Vietnam increased by +27 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest wood pellets and other agglomerates supplier in Asia-Pacific, comprising 75% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam stood at +35.1%. In the other countries, the average annual rates were as follows: Malaysia (+19.1% per year) and Indonesia (+19.0% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, with a decrease of -7.9% against the previous year. Overall, the export price recorded a slight contraction. The most prominent rate of growth was recorded in 2021 when the export price increased by 19% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-0.1%), while the other leaders experienced a decline in the export price figures.

Imports of Wood Pellets And Other Agglomerates

Imports in Asia-Pacific

In 2022, approx. X tons of wood pellets and other agglomerates were imported in Asia-Pacific; increasing by 27% on the previous year. Over the period under review, imports showed significant growth. The pace of growth was the most pronounced in 2014 when imports increased by 160%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, wood pellets and other agglomerates imports surged to $X in 2022. Overall, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 169% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

The purchases of the two major importers of wood pellets and other agglomerates, namely Japan and South Korea, represented more than two-thirds of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Japan (with a CAGR of +49.0%).

In value terms, the largest wood pellets and other agglomerates importing markets in Asia-Pacific were Japan ($X) and South Korea ($X).

Among the main importing countries, Japan, with a CAGR of +43.0%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, with an increase of 26% against the previous year. Import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood pellets and other agglomerates import price increased by +45.6% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while South Korea stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.8%).

Source: IndexBox Platform

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