Eastern Asia: Industrial Roundwood (Coniferous) Market 2024

Industrial Roundwood (Coniferous) Market Size in Eastern Asia

The East Asian industrial roundwood (coniferous) market reduced rapidly to $X in 2022, with a decrease of -17.4% against the previous year. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2021, and then dropped rapidly in the following year.

Industrial Roundwood (Coniferous) Production in Eastern Asia

In value terms, industrial roundwood (coniferous) production rose rapidly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 19% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Industrial Roundwood (Coniferous) Exports

Exports in Eastern Asia

In 2022, approx. X cubic meters of industrial roundwood (coniferous) were exported in Eastern Asia; which is down by -27.1% compared with 2021 figures. Over the period under review, exports, however, continue to indicate prominent growth. The pace of growth appeared the most rapid in 2014 when exports increased by 121% against the previous year. Over the period under review, the exports reached the maximum at X cubic meters in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, industrial roundwood (coniferous) exports dropped remarkably to $X in 2022. Overall, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 118% against the previous year. The level of export peaked at $X in 2021, and then contracted significantly in the following year.

Exports by Country

In 2022, Japan (X cubic meters) was the largest exporter of industrial roundwood (coniferous) in Eastern Asia, committing 99% of total export.

Japan was also the fastest-growing in terms of the industrial roundwood (coniferous) exports, with a CAGR of +15.2% from 2012 to 2022. Japan (+7 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) also remains the largest industrial roundwood (coniferous) supplier in Eastern Asia.

In Japan, industrial roundwood (coniferous) exports expanded at an average annual rate of +25.0% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per cubic meter in 2022, rising by 12% against the previous year. Over the period under review, the export price showed strong growth. The growth pace was the most rapid in 2021 an increase of 45% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for Japan amounted to +8.5% per year.

Industrial Roundwood (Coniferous) Imports

Imports in Eastern Asia

After four years of growth, overseas purchases of industrial roundwood (coniferous) decreased by -34.7% to X cubic meters in 2022. Overall, imports continue to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2013 with an increase of 25%. The volume of import peaked at X cubic meters in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, industrial roundwood (coniferous) imports dropped remarkably to $X in 2022. Total imports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when imports increased by 39%. The level of import peaked at $X in 2021, and then reduced sharply in the following year.

Imports by Country

China represented the largest importer of industrial roundwood (coniferous) in Eastern Asia, with the volume of imports amounting to X cubic meters, which was near 80% of total imports in 2022. Japan (X cubic meters) took the second position in the ranking, followed by South Korea (X cubic meters). All these countries together held approx. 19% share of total imports.

China was also the fastest-growing in terms of the industrial roundwood (coniferous) imports, with a CAGR of -1.2% from 2012 to 2022. Japan (-4.4%) and South Korea (-8.9%) illustrated a downward trend over the same period. China (+9.5 p.p.) significantly strengthened its position in terms of the total imports, while Japan and South Korea saw its share reduced by -2.8% and -6.7% from 2012 to 2022, respectively.

In value terms, China ($X) constitutes the largest market for imported industrial roundwood (coniferous) in Eastern Asia, comprising 73% of total imports. The second position in the ranking was taken by Japan ($X), with a 17% share of total imports.

In China, industrial roundwood (coniferous) imports increased at an average annual rate of +2.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-0.2% per year) and South Korea (-1.9% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per cubic meter, picking up by 12% against the previous year. Import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial roundwood (coniferous) import price increased by +37.4% against 2020 indices. The pace of growth was the most pronounced in 2018 when the import price increased by 38%. The level of import peaked in 2022 and is expected to retain growth in the near future.

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 Japan ($X per cubic meter), while China ($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 South Korea (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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