Asia: Market for Wood Pellets And Other Agglomerates 2023

Market Size for Wood Pellets And Other Agglomerates in Asia

The Asian market for wood pellets and other agglomerates soared to $X in 2022, increasing by 34% against the previous year. Overall, consumption enjoyed a significant increase. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Production of Wood Pellets And Other Agglomerates in Asia

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

Exports of Wood Pellets And Other Agglomerates

Exports in Asia

Wood pellets and other agglomerates exports rose significantly to X tons in 2022, growing by 12% on the previous year. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 141%. The volume of export peaked at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, wood pellets and other agglomerates exports rose to $X in 2022. Overall, exports enjoyed a significant expansion. The growth pace was the most rapid in 2014 with an increase of 142%. 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 major exporter of wood pellets and other agglomerates, generating 71% of total exports. Malaysia (X tons) took the second position in the ranking, followed by Indonesia (X tons). All these countries together took approx. 23% share of total exports. Turkey (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to wood pellets and other agglomerates exports from Vietnam stood at +35.3%. At the same time, Turkey (+88.8%), Indonesia (+29.5%) and Malaysia (+22.4%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +88.8% from 2012-2022. Vietnam (+23 p.p.) and Turkey (+4 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by -11.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest wood pellets and other agglomerates supplier in Asia, comprising 72% of total exports. The second position in the ranking was held by Malaysia ($X), with an 11% share of total exports. It was followed by Indonesia, with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam totaled +35.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+19.1% per year) and Indonesia (+19.0% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, declining by -6.3% against the previous year. In general, the export price showed a mild curtailment. The pace of growth was the most pronounced in 2021 an increase of 19%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Indonesia ($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

In 2022, imports of wood pellets and other agglomerates in Asia soared to X tons, jumping by 27% compared with 2021 figures. Over the period under review, imports recorded a significant increase. The pace of growth appeared the most rapid in 2014 when imports increased by 156% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, wood pellets and other agglomerates imports soared to $X in 2022. In general, imports showed significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 160%. The level of import peaked in 2022 and is likely to see gradual 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 main importing countries, was attained by Japan (with a CAGR of +49.0%).

In value terms, Japan ($X) and South Korea ($X) were the countries with the highest levels of imports in 2022.

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

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, growing by 27% against the previous year. Over the period under review, the import price recorded a mild expansion. As a result, import price reached 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 amounted to $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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