Market research

Wood pellets market in Asia

Release date: Mar 29, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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"Asia" region includes following countries:

China

Hong Kong

Japan

North Korea

South Korea

Macao

Mongolia

Afghanistan

Bangladesh

Bhutan

Sri Lanka

India

Iran

Maldives

Nepal

Pakistan

Brunei Darussalam

Myanmar

Cambodia

Indonesia

Laos

Malaysia

the Philippines

Timor-Leste

Singapore

Vietnam

Thailand

Kazakhstan

Kyrgyzstan

Tajikistan

Turkmenistan

Uzbekistan

Azerbaijan

Armenia

Bahrain

Cyprus

Georgia

Palestine

Iraq

Israel

Jordan

Kuwait

Lebanon

Oman

Qatar

Saudi Arabia

Syria

Turkey

the United Arab Emirates

Yemen

Earlier Report Observations

From 2018 to 2020, wood pellet production in Asia remained stable around 5.5–5.7 million tons, supported by the industry's reliance on sawmill waste as a sustainable raw material source. The recognition of pellets as an ecological fuel with high calorific value boosted consumer demand, while drying and compacting technologies improved product quality.

Market volume expanded significantly from 9.1 million tons in 2021 to 11.0 million in 2022, fueled by public subsidies like MaPrimeRénov that encouraged pellet heating systems. A sharp price surge to around €550 per ton in 2022, caused by sawdust shortages from slowed industrial activity, triggered a supply crisis and accelerated production growth to meet demand.

In 2023, the market contracted to 9.3 million tons as mild winter weather reduced heating consumption, even though production rose to 8.4 million tons. The industry responded by starting construction on a new 85 000-ton plant and optimizing logistics to stabilize prices near €400 per ton after the previous year's crisis.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
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, 2020-2024
    3. 4.1.1.3. Exports, 2020-2024
    4. 4.1.1.4. Market size, 2020-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Asia
  1. 5.1.1. Annual dynamics of production in Asia 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. 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 China in kind, 2020-2024, K t
    2. 6.1.2.2. Dynamics of product's imports in kind to China by countries, 2020-2024, K t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2020-2024
  3. 6.1.3. Imports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's imports to China in value, 2020-2024, M $ US
    2. 6.1.3.2. Dynamics of product's imports in value to China by countries, 2020-2024, M $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2020-2024
  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 China, 2020-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to China by countries, 2020-2024, $ 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 China in kind, 2020-2024, K t
    2. 6.2.2.2. Dynamics of product's imports in kind to China by countries, 2020-2024, K t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2020-2024
  3. 6.2.3. Imports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's imports to China in value, 2020-2024, M $ US
    2. 6.2.3.2. Dynamics of product's imports in value to China by countries, 2020-2024, M $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2020-2024
  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 China, 2020-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to China by countries, 2020-2024, $ US/t
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 China in kind, 2020-2024, K t
    2. 7.1.2.2. Dynamics of product's exports in kind from China by countries, 2020-2024, K t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2020-2024
  3. 7.1.3. Exports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's exports from China in value, 2020-2024, M $ US
    2. 7.1.3.2. Dynamics of product's exports in value from China by countries, 2020-2024, M $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2020-2024
  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 China, 2020-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from China by countries, 2020-2024, $ 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 China in kind, 2020-2024, K t
    2. 7.2.2.2. Dynamics of product's exports in kind from China by countries, 2020-2024, K t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2020-2024
  3. 7.2.3. Exports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's exports from China in value, 2020-2024, M $ US
    2. 7.2.3.2. Dynamics of product's exports in value from China by countries, 2020-2024, M $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2020-2024
  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 China, 2020-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from China by countries, 2020-2024, $ US/t
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. Top buying and selling countries, 2020-2024
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 Asia

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

In 2020, Asia produced 5,674 K t of wood pellets, marking a slight increase of 2.9% compared to the previous year. Looking at the period from 2017 to 2020, production grew by 61.2%, which translates to an annualized growth rate of 17.3%. The largest decline occurred in 2019, with a drop of 1.1%, while the most significant increase was recorded in 2018, at 58.5%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	58.5%	(1.1%)	2.9%	17.3%

Source: SHEV.io

Exports wood pellets from Asia

Exports in kind, K t

Exports of wood pellets from Asia have risen for the third year in a row. In 2020, exports reached 585 K t, showing a dramatic year-over-year increase of 1,268.7%. Over the 2017-2020 period, exports surged by 1,554.8%, with a compound annual growth rate (CAGR) of 154.8%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	13.6%	6.4%	1 268.7%	154.8%

Source: SHEV.io

From 2017 to 2020, Asia, not elsewhere specified, was the primary market for wood pellets exported from Asia, accounting for 0.5% of total exports in volume terms.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, M $ US

The market experienced noticeable fluctuations during this period. Import levels varied by 2.1 times between the low in 2017 and the high in 2018. In 2020, the value of wood pellet exports from Asia totaled 463.3 million US dollars, representing a substantial year-over-year rise of 10.7%. The peak value was recorded in 2018 at 538.6 million US dollars. The largest decline occurred in 2019, with a drop of 22.3%, while the most significant increase was in 2018, at 109.2%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	109.2%	(22.3%)	10.7%	21.6%

Source: SHEV.io

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

Source: SHEV.io

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

Source: SHEV.io

Imports wood pellets to Asia

Imports in kind, K t

The market displayed volatility over the observed years. Imports hit their lowest point in 2017 and peaked in 2020, with a fluctuation of 5.4 times between these extremes. In 2020, wood pellet imports into Asia were recorded at 3,590 K t, up by 361.8% from 2019. The largest decline was in 2019, with a decrease of 4.6%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	22.0%	(4.6%)	361.8%	75.2%

Source: SHEV.io

Between 2017 and 2020, the top suppliers of wood pellets to Asia were Canada (with 12.7% of imports in volume), Russia (3.6%), and Australia (1.0%). Together, these three countries accounted for 17.4% of total imports in volume terms.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, M $ US

Market behavior was characterized by volatility during these years. Import volumes reached their lowest point in 2017 and peaked in 2018, with a top-to-bottom ratio of 1.9 times. In 2020, the value of wood pellet imports into Asia totaled 679.4 million US dollars, which is 3.9% higher than the previous year. The maximum value was recorded in 2018 at 724.7 million US dollars. The largest decline occurred in 2019, with a drop of 9.7%, while the most significant increase was in 2018, at 92.0%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	92.0%	(9.7%)	3.9%	21.7%

Source: SHEV.io

From 2017 to 2020, the leading destinations for wood pellet imports to Asia in value terms were Canada (with 18.1% of imports in value), Russia (3.1%), and Australia (1.4%). Collectively, these three countries made up 22.5% of total import flows.

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

Source: SHEV.io

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

Source: SHEV.io