Malaysia: Wood Flat Pallet Market 2024

Wood Flat Pallet Market Size in Malaysia

The Malaysian wood flat pallet market surged to $X in 2023, rising by X% against the previous year. Overall, consumption recorded a prominent increase. Wood flat pallet consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Wood Flat Pallet Production in Malaysia

In value terms, wood flat pallet production skyrocketed to $X in 2023 estimated in export price. Overall, the total production indicated a resilient increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Wood Flat Pallet Exports

Exports from Malaysia

In 2023, exports of flat pallets and pallet collars of wood from Malaysia plummeted to X units, declining by X% on 2022. Over the period under review, exports saw a slight setback. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X units in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, wood flat pallet exports shrank to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Singapore (X units) was the main destination for wood flat pallet exports from Malaysia, with a X% share of total exports. Moreover, wood flat pallet exports to Singapore exceeded the volume sent to the second major destination, Vietnam (X units), more than tenfold.

From 2012 to 2023, the average annual rate of growth in terms of volume to Singapore stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Thailand (X% per year).

In value terms, Singapore ($X) remains the key foreign market for flat pallets and pallet collars of wood exports from Malaysia, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value to Singapore stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2023, the average wood flat pallet export price amounted to $X per unit, growing by X% against the previous year. Over the period under review, export price indicated a resilient increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, wood flat pallet export price decreased by X% against 2021 indices. Over the period under review, the average export prices attained the maximum at $X per unit in 2021; however, from 2022 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Flat Pallet Imports

Imports into Malaysia

In 2023, purchases abroad of flat pallets and pallet collars of wood was finally on the rise to reach X units after two years of decline. In general, imports posted prominent growth. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports attained the maximum at X units in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, wood flat pallet imports shrank notably to $X in 2023. Over the period under review, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at $X in 2022, and then dropped sharply in the following year.

Imports by Country

In 2023, China (X units) constituted the largest wood flat pallet supplier to Malaysia, accounting for a X% share of total imports. Moreover, wood flat pallet imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), fourfold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Singapore ($X), Vietnam ($X) and China ($X) were the largest wood flat pallet suppliers to Malaysia, with a combined X% share of total imports.

Vietnam, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wood flat pallet import price stood at $X per unit in 2023, with a decrease of X% against the previous year. In general, the import price saw a abrupt contraction. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform