China: Market for Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike 2024

Market Size for Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike in China

The Chinese gum or wood oils market soared to $X in 2023, surging by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Gum or wood oils consumption peaked at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.

Production of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike in China

In value terms, gum or wood oils production expanded slightly to $X in 2023 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Gum or wood oils production peaked at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

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Exports of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike

Exports from China

After two years of decline, overseas shipments of gum, wood or sulphate turpentine oils, pine oil and other alike increased by X% to X tons in 2023. Over the period under review, exports, however, showed a deep slump. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, gum or wood oils exports expanded markedly to $X in 2023. In general, exports, however, continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons), South Africa (X tons) and Mexico (X tons) were the main destinations of gum or wood oils exports from China, together accounting for X% of total exports. Hong Kong SAR, Malaysia, Lao People's Democratic Republic, Nigeria, Spain, Germany, Japan, Egypt and Thailand lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Indonesia ($X) and Hong Kong SAR ($X) constituted the largest markets for gum or wood oils exported from China worldwide, with a combined X% share of total exports. Mexico, Malaysia, Germany, Nigeria, Japan, Spain, Egypt, Lao People's Democratic Republic and Thailand lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Lao People's Democratic Republic, with a CAGR of X%, recorded the highest growth rate of 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

In 2023, the average gum or wood oils export price amounted to $X per ton, which is down by X% against the previous year. Overall, export price indicated modest growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, gum or wood oils export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike

Imports into China

In 2023, after two years of decline, there was significant growth in overseas purchases of gum, wood or sulphate turpentine oils, pine oil and other alike, when their volume increased by X% to X tons. Overall, imports saw a significant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Imports peaked in 2023 and are likely to see steady growth in the near future.

In value terms, gum or wood oils imports surged to $X in 2023. Over the period under review, imports saw a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in years to come.

Imports by Country

In 2023, Brazil (X tons) constituted the largest supplier of gum or wood oils to China, accounting for a X% share of total imports. Moreover, gum or wood oils imports from Brazil exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), twofold. The third position in this ranking was taken by Indonesia (X tons), with an X% share.

From 2012 to 2023, the average annual growth rate of volume from Brazil stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Indonesia (X% per year).

In value terms, Brazil ($X) constituted the largest supplier of gum, wood or sulphate turpentine oils, pine oil and other alike to China, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports. It was followed by Argentina, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Brazil amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Argentina (X% per year).

Import Prices by Country

In 2023, the average gum or wood oils import price amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price recorded a slight curtailment. The most prominent rate of growth was recorded in 2015 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2016 to 2023, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform