Malaysia: Wood Pellets Market 2023

Wood Pellets Market Size in Malaysia

The Malaysian wood pellets market skyrocketed to $X in 2021, growing by 107% against the previous year. Over the period under review, consumption saw a buoyant increase. Wood pellets consumption peaked in 2021 and is likely to see steady growth in the near future.

Wood Pellets Production in Malaysia

In value terms, wood pellets production rose notably to $X in 2021 estimated in export price. In general, production recorded significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 140%. Wood pellets production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Wood Pellets Exports

Exports from Malaysia

In 2021, approx. X tons of wood pellets were exported from Malaysia; falling by -11.4% against 2020 figures. Overall, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 437% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, wood pellets exports dropped to $X in 2021. Over the period under review, exports, however, saw significant growth. The growth pace was the most rapid in 2014 with an increase of 138% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X tons) was the main destination for wood pellets exports from Malaysia, accounting for a 75% share of total exports. Moreover, wood pellets exports to South Korea exceeded the volume sent to the second major destination, Japan (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Korea totaled +24.2%.

In value terms, South Korea ($X) remains the key foreign market for wood pellets exports from Malaysia, comprising 72% of total exports. The second position in the ranking was taken by Japan ($X), with a 24% share of total exports.

From 2012 to 2021, the average annual growth rate of value to South Korea totaled +21.8%.

Export Prices by Country

In 2021, the average wood pellets export price amounted to $X per ton, growing by 8.3% against the previous year. In general, the export price, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2018 an increase of 25% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to South Korea stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (-2.0%).

Wood Pellets Imports

Imports into Malaysia

In 2021, approx. X tons of wood pellets were imported into Malaysia; which is down by -10.6% compared with the previous year. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 148% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, wood pellets imports contracted to $X in 2021. Over the period under review, imports, however, continue to indicate a slight expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 63% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of wood pellets to Malaysia, accounting for a 87% share of total imports. Moreover, wood pellets imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The third position in this ranking was taken by Singapore (X tons), with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +56.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.9% per year) and Singapore (+15.4% per year).

In value terms, China ($X) constituted the largest supplier of wood pellets to Malaysia, comprising 83% of total imports. The second position in the ranking was held by Germany ($X), with an 8% share of total imports. It was followed by Singapore, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +66.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-4.9% per year) and Singapore (-2.0% per year).

Import Prices by Country

The average wood pellets import price stood at $X per ton in 2021, standing approx. at the previous year. Overall, the import price showed slight growth. The most prominent rate of growth was recorded in 2014 when the average import price increased by 97%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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