South-Eastern Asia: Peat Market 2024

Peat Market Size in South-Eastern Asia

The Southeast Asian peat market totaled $X in 2023, with an increase of X% against the previous year. Overall, consumption enjoyed a strong increase. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Peat Production in South-Eastern Asia

In value terms, peat production shrank to $X in 2023 estimated in export price. Overall, production, however, showed a sharp curtailment. The pace of growth was the most pronounced in 2016 with an increase of X%. As a result, production attained the peak level of $X. From 2017 to 2023, production growth remained at a lower figure.

Peat Exports

Exports in South-Eastern Asia

In 2023, approx. X tons of peat were exported in South-Eastern Asia; picking up by X% on the year before. Over the period under review, exports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2019 with an increase of X%. The volume of export peaked at X tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, peat exports skyrocketed to $X in 2023. In general, exports, however, continue to indicate a deep reduction. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

The shipments of the three major exporters of peat, namely Indonesia, Vietnam and Malaysia, represented more than two-thirds of total export. It was distantly followed by Timor-Leste (X tons), comprising a X% share of total exports. The following exporters - Lao People's Democratic Republic (X tons) and Singapore (X tons) - each accounted for a X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Malaysia ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2023, surging by X% against the previous year. Export price indicated a moderate increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, peat export price increased by X% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (X%), while the other leaders experienced mixed trends in the export price figures.

Peat Imports

Imports in South-Eastern Asia

Peat imports expanded remarkably to X tons in 2023, surging by X% against the previous year's figure. In general, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, peat imports stood at $X in 2023. Over the period under review, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Malaysia (X tons) and Thailand (X tons) dominates imports structure, together committing X% of total imports. Vietnam (X tons) held the next position in the ranking, followed by the Philippines (X tons). All these countries together held near X% share of total imports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Malaysia ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2023, together accounting for X% of total imports.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2023, which is down by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2021; however, from 2022 to 2023, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Thailand ($X per ton) and Singapore ($X per ton), while Malaysia ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform