Report Update Apr 1, 2024

Republic of Korea - Wood Fuel - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Wood Fuel Market 2024

Wood Fuel Market Size in Republic of Korea

The South Korean wood fuel market shrank significantly to $X in 2022, reducing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a buoyant expansion. Wood fuel consumption peaked at $X in 2021, and then fell rapidly in the following year.

Wood Fuel Exports

Exports from Republic of Korea

In 2021, shipments abroad of wood fuel decreased by X% to X cubic meters, falling for the second year in a row after three years of decline. Over the period under review, exports faced a precipitous curtailment. The pace of growth appeared the most rapid in 2015 with an increase of X%. The exports peaked at X cubic meters in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, wood fuel exports totaled $X in 2021. In general, exports showed a deep slump. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Thailand (X cubic meters) was the main destination for wood fuel exports from South Korea, accounting for a approx. X% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Thailand totaled X%.

From 2012 to 2021, the average annual rate of growth in terms of value to Thailand totaled X%.

Export Prices by Country

In 2021, the average wood fuel export price amounted to $X per cubic meter, remaining relatively unchanged against the previous year. Overall, the export price showed strong growth. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. As a result, the export price attained the peak level of $X per cubic meter. From 2015 to 2021, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Thailand.

From 2012 to 2021, the rate of growth in terms of prices for Thailand amounted to X% per year.

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Wood Fuel Imports

Imports into Republic of Korea

In 2022, purchases abroad of wood fuel decreased by X% to X cubic meters, falling for the second consecutive year after five years of growth. Over the period under review, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked at X cubic meters in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, wood fuel imports plummeted to $X in 2022. Overall, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of X%. Imports peaked at $X in 2021, and then fell markedly in the following year.

Imports by Country

Ukraine (X cubic meters), Latvia (X cubic meters) and Vietnam (X cubic meters) were the main suppliers of wood fuel imports to South Korea, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X) constituted the largest supplier of wood fuel to South Korea, comprising X% of total imports. The second position in the ranking was held by Latvia ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Ukraine stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (X% per year) and the United States (X% per year).

Import Prices by Country

In 2022, the average wood fuel import price amounted to $X per cubic meter, picking up by X% against the previous year. In general, the import price continues to indicate measured growth. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per cubic meter in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per cubic meter), while the price for Vietnam ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (X%), while the prices for the other major suppliers experienced more modest paces of growth.

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Frequently Asked Questions (FAQ) :

What are the largest markets for wood fuel in the world?

The countries with the highest volumes of consumption in 2023 were Italy, Ukraine and the UK, with a combined 41% share of global consumption.

What are the largest producers of wood fuel in the world?

Ukraine remains the largest wood fuel producing country worldwide, accounting for 18% of total volume. Moreover, wood fuel production in Ukraine exceeded the figures recorded by the second-largest producer, Croatia, twofold. Latvia ranked third in terms of total production with an 8.2% share.

What are the leading suppliers of wood fuel to Republic of Korea?

In value terms, Ukraine constituted the largest supplier of wood fuel to South Korea, comprising 59% of total imports. The second position in the ranking was held by Latvia, with a 17% share of total imports. It was followed by the United States, with a 12% share.

What is the average export price for wood fuel in Republic of Korea?

The average wood fuel export price stood at $1,537 per cubic meter in 2021, approximately reflecting the previous year.

What is the average import price for wood fuel in Republic of Korea?

In 2022, the average wood fuel import price amounted to $384 per cubic meter, jumping by 37% against the previous year.

This report provides an in-depth analysis of the wood fuel market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 1627 - Wood fuel, coniferous
FCL 1628 - Wood fuel, non-coniferous

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023