Wood Box and Cable Drum Market

The article provides a comprehensive overview of the global market for wood boxes, crates, and cable drums, forecasting an upward consumption trend between 2022 and 2030. Key insights include market performance, anticipated CAGR growth rates in both volume and value terms, consumption patterns, production statistics, import and export trends, and key player analysis. Detailed information on major consuming countries, producers, importers, and exporters is also included, highlighting growth rates, market share, and pricing dynamics. Overall, the analysis offers valuable data for industry stakeholders looking to make informed decisions in this sector.

Market Forecast

Driven by increasing demand for wood boxes, crates and cable drums worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.8% for the period from 2022 to 2030, which is projected to bring the market volume to 767M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +8.1% for the period from 2022 to 2030, which is projected to bring the market value to $1,680.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Wood Boxes, Crates and Cable Drums

In 2022, global consumption of wood boxes, crates and cable drums shrank to 568M units, reducing by -6.8% on 2021. Over the period under review, the total consumption indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +8.4% against 2020 indices. As a result, consumption attained the peak volume of 610M units, and then dropped in the following year.

The revenue of the market for wood boxes, crates and cable drums worldwide contracted slightly to $902.4B in 2022, which is down by -3.8% 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, continues to indicate a resilient increase. Global consumption peaked at $1,056B in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Consumption By Country

China (125M units) remains the largest wood box and cable drum consuming country worldwide, accounting for 22% of total volume. Moreover, wood box and cable drum consumption in China exceeded the figures recorded by the second-largest consumer, India (49M units), threefold. The third position in this ranking was taken by the United States (48M units), with an 8.4% share.

In China, wood box and cable drum consumption expanded at an average annual rate of +6.8% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+8.4% per year) and the United States (+1.0% per year).

In value terms, Russia ($884.4B) led the market, alone. The second position in the ranking was held by the United States ($2.3B). It was followed by China.

In Russia, the wood box and cable drum market expanded at an average annual rate of +6.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+3.7% per year) and China (+7.0% per year).

The countries with the highest levels of wood box and cable drum per capita consumption in 2022 were Turkey (376 units per million persons), Italy (225 units per million persons) and Russia (180 units per million persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Turkey (with a CAGR of +23.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Wood Boxes, Crates and Cable Drums

Global wood box and cable drum production contracted to 571M units in 2022, reducing by -6.4% on 2021. Overall, the total production indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +8.6% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 16% against the previous year. As a result, production reached the peak volume of 610M units, and then shrank in the following year.

In value terms, wood box and cable drum production shrank to $900.3B in 2022 estimated in export price. Over the period under review, production, however, recorded a strong increase. The most prominent rate of growth was recorded in 2015 with an increase of 54% against the previous year. Global production peaked at $1,054.3B in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Production By Country

China (131M units) constituted the country with the largest volume of wood box and cable drum production, comprising approx. 23% of total volume. Moreover, wood box and cable drum production in China exceeded the figures recorded by the second-largest producer, India (50M units), threefold. The third position in this ranking was taken by the United States (38M units), with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +6.7%. In the other countries, the average annual rates were as follows: India (+8.2% per year) and the United States (-0.2% per year).

Imports

World Imports of Wood Boxes, Crates and Cable Drums

In 2022, overseas purchases of wood boxes, crates and cable drums increased by 10% to 40M units, rising for the third consecutive year after two years of decline. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +87.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 46%. Over the period under review, global imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, wood box and cable drum imports rose remarkably to $1.2B in 2022. Overall, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +48.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 30% against the previous year. Over the period under review, global imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports By Country

The United States was the key importer of wood boxes, crates and cable drums in the world, with the volume of imports resulting at 11M units, which was near 27% of total imports in 2022. It was distantly followed by Germany (4.5M units) and France (1.8M units), together comprising a 16% share of total imports. The Netherlands (1,233K units), Austria (1,022K units), South Korea (879K units), Portugal (830K units), Canada (814K units), Sweden (807K units), Belgium (772K units), the UK (717K units), Taiwan (Chinese) (714K units) and Italy (708K units) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to wood box and cable drum imports into the United States stood at +5.6%. At the same time, Portugal (+27.6%), Italy (+27.1%), the Netherlands (+15.8%), Austria (+15.4%), Sweden (+13.3%), South Korea (+10.9%), Germany (+10.3%) and France (+9.6%) displayed positive paces of growth. Moreover, Portugal emerged as the fastest-growing importer imported in the world, with a CAGR of +27.6% from 2012-2022. Canada and Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, the UK (-8.3%) and Belgium (-29.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Germany, France, the Netherlands, Austria, Portugal, Sweden, Belgium and Italy increased by +11, +4.6, +3.1, +2.6, +2.1, +2, +2 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($175M), the United States ($115M) and France ($85M) were the countries with the highest levels of imports in 2022, together accounting for 31% of global imports. The Netherlands, the UK, South Korea, Italy, Austria, Sweden, Belgium, Portugal, Canada and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 29%.

Taiwan (Chinese), with a CAGR of +19.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average import price for wood boxes, crates and cable drums stood at $31 per unit in 2022, with an increase of 4.1% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 21%. Over the period under review, average import prices reached the peak figure at $41 per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the UK ($68 per unit), while the United States ($11 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+24.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Wood Boxes, Crates and Cable Drums

Global wood box and cable drum exports soared to 42M units in 2022, growing by 17% compared with 2021. The total export volume increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, wood box and cable drum exports surged to $1.2B in 2022. In general, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +47.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 28%. The global exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports By Country

In 2022, Chile (6.6M units) and China (6.4M units) represented the key exporters of wood boxes, crates and cable drumsacross the globe, together generating 31% of total exports. Poland (3.5M units) ranks next in terms of the total exports with an 8.3% share, followed by the Czech Republic (5.3%) and Belgium (4.6%). Spain (1.9M units), Germany (1.6M units), the United States (1.4M units), India (1.2M units), Hong Kong SAR (1.1M units), Bahrain (1.1M units), the Netherlands (1M units) and France (1M units) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +15.3%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Poland ($119M), Germany ($90M) and the United States ($79M) constituted the countries with the highest levels of exports in 2022, with a combined 23% share of global exports. Spain, the Czech Republic, China, the Netherlands, France, Belgium, Bahrain, India, Chile and Hong Kong SAR lagged somewhat behind, together accounting for a further 33%.

Among the main exporting countries, the Netherlands, with a CAGR of +15.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average export price for wood boxes, crates and cable drums stood at $29 per unit in 2022, approximately mirroring the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2021 an increase of 14% against the previous year. As a result, the export price attained the peak level of $30 per unit, and then dropped slightly in the following year.

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 France ($59 per unit), while Chile ($1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+5.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform