VIETNAM WOOD INDUSTRY
The global wood industry has grown strongly in recent years, The consumption of wood and wood products increased sharply due to the economic recovery in main consuming countries such as the US and EU. In the period of 2012-2016, the global wood processing market achieved an annual growth rate (CAGR) of 7.2% and was expected to achieve a CAGR of 9.2% in the period of 2016-2020.
Vietnam's wood processing industry has become a key export industry, ranking fourth only after coffee, seafood and machinery, spare parts. Generally in Q1 / 2019, the area of concentrated plantation nationwide was estimated to increase by 1.4% compared to the same period last year. The domestic supply of timber plantation plays an important role in producing exported goods.
Vietnam has become the leading wood exporter in Southeast Asia and the seventh in the world in exporting wood products. In Q1 / 2019, wood and wood products export turnover was estimated to increase 16.2% over the same period in 2018. Wood and wood products are mainly exported to the US market, accounting for 45.38% of the proportion and rising 34.6% compared to the same period last year.
In Q1 / 2019, the woodchip production was estimated at nearly one third of the whole 2018, and increased by 59.6% over the same period last year. Woodchip is one of Vietnam's most important exports, in Q1 / 2019, the exports reached 371.6 million USD.
Vietnam's wood industry has many advantages compared to the wood industry in the region. With FTAs taking effect from 2019, the wood industry will enter a new period with many export growth prospects. With the export prospects of the wood processing industry, the industry associations and business associations agreed to set the total production value of the wood processing industry in 2019 to US $ 10.2 billion.
The global wood industry has grown strongly in recent years, The consumption of wood and wood products increased sharply due to the economic recovery in main consuming countries such as the US and EU. In the period of 2012-2016, the global wood processing market achieved an annual growth rate (CAGR) of 7.2% and was expected to achieve a CAGR of 9.2% in the period of 2016-2020.
Vietnam's wood processing industry has become a key export industry, ranking fourth only after coffee, seafood and machinery, spare parts. Generally in Q1 / 2019, the area of concentrated plantation nationwide was estimated to increase by 1.4% compared to the same period last year. The domestic supply of timber plantation plays an important role in producing exported goods.
Vietnam has become the leading wood exporter in Southeast Asia and the seventh in the world in exporting wood products. In Q1 / 2019, wood and wood products export turnover was estimated to increase 16.2% over the same period in 2018. Wood and wood products are mainly exported to the US market, accounting for 45.38% of the proportion and rising 34.6% compared to the same period last year.
In Q1 / 2019, the woodchip production was estimated at nearly one third of the whole 2018, and increased by 59.6% over the same period last year. Woodchip is one of Vietnam's most important exports, in Q1 / 2019, the exports reached 371.6 million USD.
Vietnam's wood industry has many advantages compared to the wood industry in the region. With FTAs taking effect from 2019, the wood industry will enter a new period with many export growth prospects. With the export prospects of the wood processing industry, the industry associations and business associations agreed to set the total production value of the wood processing industry in 2019 to US $ 10.2 billion.
Table of Contents
AbbreviationExecutive summary3. Risk analysis6. Appendix of financial statements
1. Business environment
2. Market overview
4. Outlook and forecast
5. Enterprise analysis
List of figures
List of tables
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Wanek furniture Co,. Ltd
- Viet Nam Nitori production Co
- Shing Mark Vina Co,. Ltd
- An Cuong wood JSC
- MDF VRG DONGWHA Wood JSC
- Viet Nam San Lim Furniture Co,. Ltd
- Viet Nam Woodwoth Wooden Co, Ltd
- ROCHDALE SPEARS Co,. Ltd
- Viet Nam POH HUAT JSC
- Timber Industries Co,. Ltd
Methodology
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