Forestry, Wood and Paper in Asia Pacific

October 2021

Asia Pacific, with a value of USD916 billion, is the largest forestry, wood and paper goods producer in the world. Forecasts for the region’s industry remain positive for 2021-2030, due to developing economies and rising population. However, the biggest changes are happening inside the region as surging India and Southeast Asian countries attract significant investments in production giving increasing competition to the leading China.

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Key Findings

Forestry, wood and paper manufacturing expected to post swift recovery after the COVID-19 pandemic

Asia Pacific is the leading region in the global forestry, wood and paper industry, accounting for 45% of global output. Over 2015-2020, the industry’s performance was weakening, due to complicated growth in regional construction and furniture industries, coupled by an elevated slump in 2020 as a result of the COVID-19 pandemic. However, the industry is expected to pick up the growth pace and reach pre-pandemic levels already in 2021 on the back of pent-up demand.

China’s positions are increasingly challenged by emerging new manufacturing hubs

China is expected to remain the top producer for forestry, wood and paper in the world by 2030. However, the rising production costs, internal investment shift to more advanced sectors and growing environmental concerns will result in slower-than-regional-average growth over 2021-2030. The surging economies, such as India, Indonesia and Vietnam, are set to show particularly robust expansion over the forecast period to slowly cement positions as the next manufacturing hubs.

Competitive landscape remains fragmented

The competitive landscape in the Asia Pacific forestry, wood and paper industry remains fragmented. New FDI and growing economies ensure constant emergence of competition, which disrupts any significant concentration efforts. Finally, while in the region’s developed countries the M&A market is active, similar trends in the developing Asian countries remain weak.

Surging e-commerce offers new possibilities for Asian paper producers

The COVID-19 pandemic has boosted e-commerce business around the world. In Asia Pacific, the internet retailing market value jumped by 22% during the year, driving demand for packaging. With growing business digitisation and sustainability ideas rising in popularity in Asia Pacific, paper products are expected to record a better-than-industry-average growth pace over 2021-2030.

 

Introduction

Scope
Key findings

Production Outlook

Asia Pacific remains the largest wood products manufacturer
Asian paper and wood production set to grow, but challenges rise
China to feel increasing competition from India and Indonesia
China’s industry on path for reorganisation
New regional hubs arise in Asia Pacific
Stable growth across categories in India to boost the country’s positions
Paper products manufacturing to offer stability for Asian producers

Competitive Landscape

Japan and South Korea have the most concentrated industries
Industry’s fragmentation set to remain stable in key regional industries

Foreign Trade

Intraregional trade ties strengthen limiting overall region’s exports
Imports polarisation set to increase thanks to investments outside China

Country Snapshots

China: Production context
China: Foreign trade landscape
Japan: Production context
Japan: Foreign trade landscape
India: Production context
India: Foreign trade landscape
Indonesia: Production context
Indonesia: Foreign trade landscape
South Korea: Production context
South Korea: Foreign trade landscape
Vietnam : Production context
Vietnam: Foreign trade landscape
Malaysia : Production context
Malaysia: Foreign trade landscape
Thailand: Production context
Thailand: Foreign trade landscape
Bangladesh: Production context
Bangladesh: Foreign trade landscape
Taiwan: Production context
Taiwan: Foreign trade landscape
Pakistan: Production context
Pakistan: Foreign trade landscape
Philippines: Production context
Philippines: Foreign trade landscape
Uzbekistan: Production context
Uzbekistan: Foreign trade landscape
Sri Lanka: Production context
Sri Lanka: Foreign trade landscape
Cambodia: Production context
Cambodia: Foreign trade landscape
Singapore: Production context
Singapore: Foreign trade landscape
Kazakhstan: Production context
Kazakhstan: Foreign trade landscape
Hong Kong, China: Production context
Hong Kong, China : Foreign trade landscape
Azerbaijan: Production context
Azerbaijan: Foreign trade landscape
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