Roundwood coniferous market in Eastern Asia

Earlier Report Observations

The coniferous roundwood market in Eastern Asia expanded from 164.6 million m³ in 2018 to a peak of 174.1 million m³ in 2021. This growth was primarily driven by a rebound in China's real estate market, which significantly boosted timber demand. Furthermore, China's 2018 policy to halt commercial logging in natural forests constrained domestic supply, increasing reliance on imported wood. While the COVID-19 pandemic caused global supply chain disruptions in 2020, underlying demand remained robust, supporting market volume.

Following the 2021 peak, the market contracted sharply to 146.1 million m³ by 2023. This decline was chiefly due to high interest rates in China, which suppressed demand in the housing and furniture sectors, key consumers of roundwood. A concurrent global trade slowdown also reduced demand for industrial packaging materials, indirectly affecting pulpwood consumption. Although a 25% drop in U.S. timber prices in 2023 made imported logs more attractive, it could not offset the broader downturn in consumption.

Market dynamics continued to shift in 2024, with China's domestic timber usage and self-sufficiency rates rising, reducing import volumes. Concurrently, growing demand for wood pellets, fueled by the green energy transition, began to create new demand streams for wood fiber, influencing the overall timber landscape.

Production coniferous roundwood in Eastern Asia

In kind, 2017-2020, M m³

Top producers of coniferous roundwood, 2017-2020

World map of production of coniferous roundwood, 2017-2020

Roundwood coniferous production in Eastern Asia has declined for the second year in a row. In 2020, the region produced 119.5 million cubic meters of roundwood coniferous, marking a slight decrease of 2.4% compared to 2019. Production peaked in 2018 at 123.4 million cubic meters, which also saw the largest annual increase of 1.4%.

Annual dynamics of production in Eastern Asia in kind, 2017-2020, M m³

In value, 2017-2020, M $ US

After two years of growth, roundwood coniferous production in Eastern Asia saw a decline in value. In 2020, the output was valued at 12 829 million US dollars, down 1.7% year-over-year. From 2017 to 2020, production value increased by 15.8%, averaging an annual growth rate of 5.0%. The highest value was recorded in 2019 at 13 055 million US dollars, while 2018 experienced the largest increase of 8.7%.

Annual dynamics of production in Eastern Asia in value, 2017-2020, M $ US

Exports coniferous roundwood from Eastern Asia

Exports in kind, K m³

In 2020, cross-border shipments of roundwood coniferous from Eastern Asia reached 1 395 thousand cubic meters, reflecting a 15.7% increase compared to 2019. Over the period from 2017 to 2020, exports grew by 11.6%, with a compound annual growth rate of 3.7%. The lowest volume was recorded in 2019 at 1 206 thousand cubic meters, which also saw the largest decline of 10.4%.

Annual dynamics of product's exports from Eastern Asia in kind, 2017-2020, K m³

From 2017 to 2020, Asia, not elsewhere specified, and Vietnam remained the primary buyers of roundwood coniferous from Eastern Asia, together accounting for 7.1% of total exports in volume.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Eastern Asia in kind, 2017-2020

Exports in value, M $ US

In 2020, the value of roundwood coniferous exports from Eastern Asia amounted to 150 million US dollars, showing a robust increase of 16.5% year-over-year. Between 2017 and 2020, export value rose by 31.7%, equating to an annualized growth rate of 9.6%. The largest decline occurred in 2019, with a decrease of 2.0%.

Annual dynamics of product's exports from Eastern Asia in value, 2017-2020, M $ US

Throughout 2017 to 2020, Asia, not elsewhere specified, and Vietnam formed the core group of markets for exports in value terms, jointly representing 7.9% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Eastern Asia in value, 2017-2020

Imports coniferous roundwood to Eastern Asia

Imports in kind, K m³

Imported volumes of roundwood coniferous in Eastern Asia increased for the second consecutive year. In 2020, imports amounted to 45 876 thousand cubic meters, representing a slight increase of 2.1% from 2019. Over the period from 2017 to 2020, imports grew by 2.1%, with a compound annual growth rate of 0.7%. The lowest volume was recorded in 2018 at 42 564 thousand cubic meters, which also saw the largest decline of 5.3%. The largest increase occurred in 2019, with a rise of 5.6%.

Annual dynamics of product's imports to Eastern Asia in kind, 2017-2020, K m³

From 2017 to 2020, New Zealand, Russia, and the United States stood out as the main sources for imports in volume. New Zealand accounted for 37.4% of imports, Russia for 14.7%, and the United States for 12.4%, together representing 64.5% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Eastern Asia in kind, 2017-2020

Imports in value, M $ US

Cross-border shipments of roundwood coniferous into Eastern Asia declined for the second consecutive year. In 2020, imports totaled 6 302 million US dollars, reflecting a gradual decline of 5.5% compared to the previous year. The highest value was recorded in 2018 at 7 057 million US dollars, which also saw the largest increase of 10.8%. The largest decline occurred in 2019, with a decrease of 5.5%.

Annual dynamics of product's imports to Eastern Asia in value, 2017-2020, M $ US

In 2017 to 2020, New Zealand, the United States, and Russia formed the main cluster of markets for imports in value terms. New Zealand accounted for 37.0% of imports, the United States for 16.5%, and Russia for 12.1%, together representing 65.5% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Eastern Asia in value, 2017-2020