Segmentation by Tree Species (Acacia, Eucalyptus, and Melaleuca); by Raw Material (Pulp Wood, and Residue Wood); by Variety (Forest, Recycled, Wood-Residue, and Sawing Residue Chips); by Application (Pulp Manufacturing, Combines Heat & Power, Household Furnishing, and Others); and by End-Use Industry (Building & Construction, Energy & Power, Paper & Pulp, and Others) – Demand Analysis & Opportunity Outlook 2021-2031
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Growth Drivers
Challenges
Regionally, the Vietnam wood chips market is segmented by region into North, Central, and South. The market in Central Vietnam is expected to garner the largest revenue of USD 11.4 Million by the end of 2031, up from a revenue of USD 4.1 Million in the year 2021. One of the major factors anticipated to drive the growth of the market is the increasing production of wood and wood products in this part of the nation. According to the statistics by the General Statistics Office (GSO) of Vietnam, the gross output of wood in the Northern Central Area and Central Coastal Area grew from 558.9 Thousand m3 in the year 2000 to 9562.3 Thousand m3 in the year 2019. On the other hand, the market in South Vietnam is expected to grow with the highest CAGR of 12.0% during the forecast period.
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The Vietnam wood chips market is segmented by tree species into Acacia, Eucalyptus, and Melaleuca. The Acacia segment is projected to garner the largest revenue of USD 16.9 Million by the end of 2031, up from a revenue of USD 5.9 Million in the year 2021. By raw material, the market is segmented into pulp wood, and residue wood, out of which, the pulp wood segment is projected to garner the highest market share by the end of 2031 and further grow with a CAGR of 11.1% during the forecast period. By variety, the market is segmented into forest chips, recycled chips, wood-residue chips, and sawing residue chips. The forest chips segment is projected to garner the largest revenue of USD 10.1 Million by the end of 2031, up from a revenue of USD 3.6 Million in the year 2021. By application, the market is segmented into pulp manufacturing, combined heat & power, household furnishing, and others. The pulp manufacturing segment is anticipated to garner the largest revenue of USD 7.8 Million by the end of 2031, up from a revenue of USD 2.7 Million in the year 2021. By end-use industry, the market is segmented into building & construction, energy & power, paper & pulp, and others. The energy & power segment is projected to display the largest revenue of USD 8.5 Million by the end of 2031, up from a revenue of USD 3.0 Million in the year 2021.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the Vietnam wood chips market that are included in our report are LEC Group, Thanh Vin Co., Ltd, Van An Global Trading Co., Ltd., Vietnam Forestry Corporation (VINAFOR), Oji Holdings Corporation, Marubeni Corporation, Mitsui & Co., Ltd., and others.
Ans: The rising demand for wood pulp, along with the increasing demand for energy in the nation are some of the major factors anticipated to drive the growth of the market in the coming years.
Ans: The market is anticipated to attain a CAGR of 11.3% over the forecast period, i.e., 2022 – 2031.
Ans: The availability of low-cost alternatives is one of the major factors estimated to hamper the market growth.
Ans: The market in Central Vietnam is expected to garner the largest revenue of USD 11.4 Million by the end of 2031 and provide more business opportunities in the future.
Ans: The major players in the market are LEC Group, Thanh Vin Co., Ltd, Van An Global Trading Co., Ltd., Vietnam Forestry Corporation (VINAFOR), and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by tree species, raw material, variety, application, end-use industry, and by region.
Ans: The forest chips segment is projected to garner the largest revenue of USD 10.1 Million by the end of 2031 and display significant growth opportunities.
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