Asia: Solid Biofuel Market 2024

Solid Biofuel Market Size in Asia

The Asian solid biofuel market amounted to $X in 2022, rising by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the immediate term.

Solid Biofuel Production in Asia

In value terms, solid biofuel production expanded modestly to $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Solid Biofuel Exports

Exports in Asia

For the third consecutive year, Asia recorded growth in shipments abroad of solid biofuels, which increased by X% to X tons in 2022. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, solid biofuel exports surged to $X in 2022. In general, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Vietnam (X tons) represented the largest exporter of solid biofuels, comprising X% of total exports. Indonesia (X tons) ranks second in terms of the total exports with a X% share, followed by Malaysia (X%). Turkey (X tons), India (X tons), Thailand (X tons) and the Philippines (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to solid biofuel exports from Vietnam stood at X%. At the same time, Turkey (X%), Malaysia (X%), the Philippines (X%), Thailand (X%), India (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. Vietnam (X p.p.), Malaysia (X p.p.), Turkey (X p.p.) and the Philippines (X p.p.) significantly strengthened its position in terms of the total exports, while Thailand, India and Indonesia saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

In value terms, Vietnam ($X) remains the largest solid biofuel supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with a X% share of total exports. It was followed by Malaysia, with an X% share.

In Vietnam, solid biofuel exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (X% per year) and Malaysia (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price, however, saw a noticeable curtailment. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced mixed trends in the export price figures.

Solid Biofuel Imports

Imports in Asia

For the seventh year in a row, Asia recorded growth in overseas purchases of solid biofuels, which increased by X% to X tons in 2022. In general, imports enjoyed a significant increase. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, solid biofuel imports surged to $X in 2022. Over the period under review, imports saw a buoyant increase. The pace of growth appeared the most rapid in 2014 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Japan (X tons) and South Korea (X tons) prevails in imports structure, together committing X% of total imports. It was distantly followed by China (X tons), creating a X% share of total imports. Saudi Arabia (X tons) held a minor share of total imports.

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 X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest solid biofuel importing markets in Asia were Japan ($X), South Korea ($X) and China ($X), with a combined X% share of total imports.

Among the main importing countries, South Korea, with a CAGR of X%, 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

The import price in Asia stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price, however, recorded a perceptible curtailment. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 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 Saudi Arabia ($X per ton), while South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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