Market research

Wood pellets market in ASEAN

Wood pellets market in ASEAN

Release date: Mar 29, 2026

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Research period: 2017-2025

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"ASEAN" region includes following countries:

Brunei Darussalam
Vietnam
Indonesia
Cambodia
Laos
Malaysia
Myanmar
Singapore
Thailand
the Philippines

Earlier Report Observations

The ASEAN wood pellet market volume showed a strong overall expansion from 2018 to 2023, more than doubling from 1.1 million tonnes to 2.3 million tonnes. This growth was interrupted by a contraction in 2020, but the market stabilized in 2021 before entering a phase of accelerated growth, with a particularly sharp increase of 60% in 2022.

Market volume reached 2.3 million tonnes in 2023, representing a steady rise from the 2021 level of 1.3 million tonnes. The period was characterized by significant production growth, which supported the overall expansion of the regional market.

Table of content

  1. 1. Disclaimer
  2. 2. Terms of use of the report
  3. 3. Product codes in the statistical classifications used in the report
  4. 4. Key Market Indicators and Trends
    1. 4.1. Key Market Indicators
      1. 4.1.1. In kind
        1. 4.1.1.1. Production, 2018-2023
        2. 4.1.1.2. Imports, 2018-2024
        3. 4.1.1.3. Exports, 2018-2024
        4. 4.1.1.4. Market size, 2018-2023
    2. 4.2. Market Trends and Factors
  5. 5. Production
    1. 5.1. Production in ASEAN
      1. 5.1.1. Annual dynamics of production in ASEAN in kind, 2018-2023, K t
    2. 5.2. Global production by Country, 2018-2023
      1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, K t
      2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
      3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, K t
      4. 5.2.4. Structure of production by countries in kind, 2018-2023
      5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
  6. 6. Imports
    1. 6.1. Imports (Direct Data*)
      1. 6.1.1. Imports - Total information
      2. 6.1.2. Imports in kind, K t
        1. 6.1.2.1. Annual dynamics of product's imports to Brunei Darussalam in kind, 2018-2024, K t
        2. 6.1.2.2. Dynamics of product's imports in kind to Brunei Darussalam by countries, 2018-2024, K t
        3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
      3. 6.1.3. Imports in value, M $ US
        1. 6.1.3.1. Annual dynamics of product's imports to Brunei Darussalam in value, 2018-2024, M $ US
        2. 6.1.3.2. Dynamics of product's imports in value to Brunei Darussalam by countries, 2018-2024, M $ US
        3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
      4. 6.1.4. Average price of product's imports, $ US/t
        1. 6.1.4.1. Annual dynamics of average price of product's imports to Brunei Darussalam, 2018-2024, $ US/t
        2. 6.1.4.2. Dynamics of average price of product's imports to Brunei Darussalam by countries, 2018-2024, $ US/t
    2. 6.2. Imports (Mirror Data)
      1. 6.2.1. Imports - Total information
      2. 6.2.2. Imports in kind, K t
        1. 6.2.2.1. Annual dynamics of product's imports to Brunei Darussalam in kind, 2018-2024, K t
        2. 6.2.2.2. Dynamics of product's imports in kind to Brunei Darussalam by countries, 2018-2024, K t
        3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
      3. 6.2.3. Imports in value, M $ US
        1. 6.2.3.1. Annual dynamics of product's imports to Brunei Darussalam in value, 2018-2024, M $ US
        2. 6.2.3.2. Dynamics of product's imports in value to Brunei Darussalam by countries, 2018-2024, M $ US
        3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
      4. 6.2.4. Average price of product's imports, $ US/t
        1. 6.2.4.1. Annual dynamics of average price of product's imports to Brunei Darussalam, 2018-2024, $ US/t
        2. 6.2.4.2. Dynamics of average price of product's imports to Brunei Darussalam by countries, 2018-2024, $ US/t
  7. 7. Exports
    1. 7.1. Exports (Direct Data*)
      1. 7.1.1. Exports - Total information
      2. 7.1.2. Exports in kind, K t
        1. 7.1.2.1. Annual dynamics of product's exports from Brunei Darussalam in kind, 2018-2024, K t
        2. 7.1.2.2. Dynamics of product's exports in kind from Brunei Darussalam by countries, 2018-2024, K t
        3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
      3. 7.1.3. Exports in value, M $ US
        1. 7.1.3.1. Annual dynamics of product's exports from Brunei Darussalam in value, 2018-2024, M $ US
        2. 7.1.3.2. Dynamics of product's exports in value from Brunei Darussalam by countries, 2018-2024, M $ US
        3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
      4. 7.1.4. Average price of product's exports, $ US/t
        1. 7.1.4.1. Annual dynamics of average price of product's exports from Brunei Darussalam, 2018-2024, $ US/t
        2. 7.1.4.2. Dynamics of average price of product's exports from Brunei Darussalam by countries, 2018-2024, $ US/t
    2. 7.2. Exports (Mirror Data)
      1. 7.2.1. Exports - Total information
      2. 7.2.2. Exports in kind, K t
        1. 7.2.2.1. Annual dynamics of product's exports from Brunei Darussalam in kind, 2018-2024, K t
        2. 7.2.2.2. Dynamics of product's exports in kind from Brunei Darussalam by countries, 2018-2024, K t
        3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
      3. 7.2.3. Exports in value, M $ US
        1. 7.2.3.1. Annual dynamics of product's exports from Brunei Darussalam in value, 2018-2024, M $ US
        2. 7.2.3.2. Dynamics of product's exports in value from Brunei Darussalam by countries, 2018-2024, M $ US
        3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
      4. 7.2.4. Average price of product's exports, $ US/t
        1. 7.2.4.1. Annual dynamics of average price of product's exports from Brunei Darussalam, 2018-2024, $ US/t
        2. 7.2.4.2. Dynamics of average price of product's exports from Brunei Darussalam by countries, 2018-2024, $ US/t
  8. 8. Trade balance
    1. 8.1. Trade balance (Direct Data)
      1. 8.1.1. In kind, K t
      2. 8.1.2. In value, M $ US
    2. 8.2. Trade balance (Mirror Data)
      1. 8.2.1. In kind, K t
      2. 8.2.2. In value, M $ US
  9. 9. Top buying and selling countries, 2018-2024
    1. 9.1. Direct Data
      1. 9.1.1. Import in Value by Countries-buyers
      2. 9.1.2. Export in Value by Countries-suppliers
    2. 9.2. Mirror Data
      1. 9.2.1. Import in Value by Countries-buyers
      2. 9.2.2. Export in Value by Countries-suppliers

Production wood pellets in ASEAN

In kind, 2017-2020, K t

Top producers of wood pellets, 2017-2020

Source: SHEV.io

World map of production of wood pellets, 2017-2020

Source: SHEV.io

Market performance showed noticeable fluctuations during this period. Production volumes varied 1.8 times between the low in 2017 and the high in 2018. In 2020, ASEAN produced 4 301 K t of wood pellets, representing a slight uptick of 1.6% compared to the previous year. The maximum production was recorded in 2018 at 4 367 K t. The largest decline occurred in 2019 with a 3.1% decrease, while the largest increase was in 2018 with a 78.5% rise.

Annual dynamics of production in ASEAN in kind, 2017-2020, K t

Parameter201820192020CAGR
1Change from last year78.5%(3.1%)1.6%20.7%
Source: SHEV.io

In value, 2017-2020, M $ US

The market exhibited volatility during these years. Values fluctuated 2.2 times between the low in 2017 and the peak in 2018. In 2020, wood pellet output in ASEAN was valued at 661.1 M $ US, reflecting a modest drop of 3.5% year-over-year. The maximum value was recorded in 2018 at 715.4 M $ US. The largest decline occurred in 2019 with a 4.3% decrease, while the largest increase was in 2018 with a 119.8% rise.

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

Parameter201820192020CAGR
1Change from last year119.8%(4.3%)(3.5%)26.6%
Source: SHEV.io

Exports wood pellets from ASEAN

Exports in kind, K t

The market showed volatility over the observed period. Export volumes varied 1.7 times between the low in 2017 and the peak in 2018. In 2020, wood pellet shipments from ASEAN reached 2 985 K t, reflecting a 16.6% improvement compared to 2019. The maximum value was recorded in 2018 at 3 270 K t. The largest decline occurred in 2019 with a 21.7% decrease, while the largest increase was in 2018 with a 70.3% rise.

Annual dynamics of product's exports from ASEAN in kind, 2017-2020, K t

Parameter201820192020CAGR
1Change from last year70.3%(21.7%)16.6%15.8%
Source: SHEV.io

From 2017 to 2020, South Korea accounted for 77.0% of total exports in kind, with the remaining flows distributed among a broad group of smaller countries.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, M $ US

The data reveals irregular changes, indicating a volatile market environment. Export values varied 2.1 times between the low in 2017 and the peak in 2018. In 2020, ASEAN exported 458.8 M $ US of wood pellets, reflecting a 10.7% rise compared to 2019. The maximum value was recorded in 2018 at 535.6 M $ US. The largest decline occurred in 2019 with a 22.7% decrease, while the largest increase was in 2018 with a 109.7% rise.

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

Parameter201820192020CAGR
1Change from last year109.7%(22.7%)10.7%21.6%
Source: SHEV.io

From 2017 to 2020, the geographical pattern of exports in value terms was characterized by strong dominance from South Korea, which accounted for 73.6% of total flows, while other partners held relatively minor shares.

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

Source: SHEV.io

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

Source: SHEV.io

Imports wood pellets to ASEAN

Imports in kind, K t

ASEAN's wood pellet imports declined for the second consecutive year. In 2020, imports amounted to 8 K t, showing a steep decrease of 34.5% compared with 2019. Between 2017 and 2020, imports decreased by 28.1%, equating to an annualized rate of 10.4%. The maximum value was recorded in 2018 at 12 K t. The largest increase occurred in 2018 with a 10.1% rise.

Annual dynamics of product's imports to ASEAN in kind, 2017-2020, K t

Parameter201820192020CAGR
1Change from last year10.1%(0.4%)(34.5%)(10.4%)
Source: SHEV.io

Data from 2017 to 2020 indicate that imports in kind of wood pellets to ASEAN were not concentrated on a few key destinations. China accounted for 16.4% of imports in kind, South Korea for 8.5%, and Germany for 4.7%, jointly representing only 29.6% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, M $ US

Cross-border shipments of wood pellets to ASEAN declined for the second consecutive year. In 2020, imports reached 2.5 M $ US, indicating a 24.3% year-over-year decline. Between 2017 and 2020, imports decreased by 13.2%, equating to an annualized rate of 4.6%. The maximum value was recorded in 2018 at 3.8 M $ US. The largest increase occurred in 2018 with a 30.3% rise.

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

Parameter201820192020CAGR
1Change from last year30.3%(12.0%)(24.3%)(4.6%)
Source: SHEV.io

From 2017 to 2020, China, Germany, and South Korea remained the principal suppliers of wood pellets to ASEAN. China accounted for 33.9% of imports in value terms, Germany for 14.4%, and South Korea for 8.0%, jointly representing 56.3% of total imports in value terms.

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

Source: SHEV.io

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

Source: SHEV.io

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