Wood Pellets Market in Asia
In value terms, wood pellets production reduced slightly to $ in estimated in export price. In general, production, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by % against the previous year. The level of production peaked at $ in 2018; however, from 2019 to , production remained at a lower figure.
Vietnam ( tons) remains the largest wood pellets producing country in Asia, comprising approx. % of total volume. Moreover, wood pellets production in Vietnam exceeded the figures recorded by the second-largest producer, China ( tons), fourfold. The third position in this ranking was held by Malaysia ( tons), with a % share.
From 2012 to , the average annual rate of growth in terms of volume in Vietnam totaled +%. In the other countries, the average annual rates were as follows: China (+% per year) and Malaysia (+% per year).
The size of the wood pellets market in Asia soared to $ in , jumping by % 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). Overall, consumption enjoyed significant growth. The level of consumption peaked in and is likely to see steady growth in the near future.
From 2012 to , the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by South Korea (with a CAGR of +%), while consumption for the other leaders experienced more modest paces of growth.
In value terms, Japan ($) led the market, alone. The second position in the ranking was held by South Korea ($).
In Japan, the wood pellets market increased at an average annual rate of +% over the period from 2012-. In the other countries, the average annual rates were as follows: South Korea (+% per year) and China (+% per year).
The countries with the highest levels of wood pellets per capita consumption in were South Korea ( kg per person), Japan ( kg per person) and China ( kg per person).
From 2012 to , the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by South Korea (with a CAGR of +%), while consumption for the other leaders experienced more modest paces of growth.
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .