VIETNAM WOOD INDUSTRY

The global wood industry has grown rapidly in recent years, and consumption of wood and wood products has increased sharply thanks to economic recovery in key consumer countries such as the United States and the EU. The global wood processing market has increased from US $ 283 billion in 2012 to US $ 373 billion in 2016 with a CAGR of 7.2%. Expected to increase from $ 373 billion in 2016 to $ 531 billion by 2020 with a CAGR of 9.2%. The three main product groups of the wood processing industry are wood chips, industrial wood (artificial boards) and interior and exterior wood products.

Asia is the largest sector in the wood processing market in 2016, accounting for 50% of the market share. Group of industrial wood (artificial boards) includes products such as plywood and paneling, chipboard and fiberboard. Artificial boards are the fastest growing product due to rapid and consistent growth in the Asia Pacific region. Over the past 15 years, global wood chip trade has increased by nearly 75%, mainly due to the expansion of pulp production in China. China and Japan are the two largest wood chip importing countries, followed by Finland, Sweden and Turkey.

Global furniture production reached $ 406 billion in 2015. The most important furniture makers in the world are China, which accounts for 41%, followed by the United States, Germany, Italy, India, Poland, Britain, Japan, Canada and South Korea. Wood processing industry of Vietnam has become a major export commodity, ranking 4th place after coffee, seafood, machinery and spare parts. Vietnam has become the leading wood exporter in Southeast Asia and the seventh largest exporters of wood in the world. The quality of Vietnamese wood products is always improved and competitive with other countries in the region.

In 2017, Vietnam imported over 2.2 million m3 equivalent to nearly xxx.x million in turnover of round wood/ roughly squared wood. The industrial production index of wood processing industry is estimated at VND 266 trillion, up slightly by 8.2% compared to 2016. Production of wood chips in Q1/2018 is estimated at x.xxx thousand tons, down 22% over the same period in 2017. In Q1/2018, the production of artificial boards (including plywood, veneers, hardwood, plywood and similar materials) was estimated at x,xxx thousand m3, an increase of 39 % over the same period of 2017. Wood production volume fell slightly by 12.8% in Q1 / 2018 compared with the same period of 2017, seats and tables are still the two largest product groups with the growth rate of (-11%) and 3%, respectively. According to the Vietnam Chamber of Commerce and Industry (VCCI), the domestic high-end furniture market is worth USD 2.5 billion, with 80% of European imports and 20% of domestic production.

Abbreviations
Executive summary
1. Business environment
1.1 Macroeconomic situation
1.2 Legal framework
2. Market overview
2.1 Definition and classification
2.2 Value chain
2.3 World wood market
2.3.1 Production
2.3.2 Trade
2.4 Vietnam wood market
2.3.1 History of formation and development
2.3.2 Value chain
2.4.3 Production
2.4.4 Consumption
2.4.5 Import export
3 Industry planning and outlook
3.1 Industry development planning
3.2. Outlook
4 Enterprise analysis
4.1 Enterprise introduction
4.2 Financial analysis

An Cuong Wood JSC
Johnson Wood JSC
Poh Huat Vietnam Co, Ltd
Rochdale Spears Co, Ltd
Salim Furniture Vietnam Co, Ltd
Shing Mark Vina Co, Ltd
Timber Industries Co, Ltd
Woodworth Wooden Co, Ltd
Nitori Vietnam Processing Enterprise

 

List of figures
Figure 1: Production value of agriculture, forestry and fishery in Q1 (at comparative prices 2010), 2015 – 2018
Figure 2: GDP growth rate by quarter, 2015 – Q1/2018
Figure 3: GDP structure at current prices, Q1/2018e
Figure 4: Vietnam import-export value, 2011 – Q1/2018
Figure 5: Most exported commodities, Q1/2018
Figure 6: VND/USD exchange rate, 2013-3/2018
Figure 7: World crude oil prices, 2011 – 3/2018
Figure 8: Production and consumption of logs in the world, 2010 – 2016
Figure 9: Production structure of industrial logs by region, 2016
Figure 10: Global logs trade, 2010 – 2016
Figure 11: Global logs trade, 2010 – 2016
Figure 12: Top 10 largest industrial logs producing countries in the world, 2016
Figure 13: Top 10 largest industrial logs consuming countries in the world, 2016
Figure 14: Top 10 largest logs importing countries, 2017
Figure 15: Top 10 largest logs exporting countries, 2017
Figure 16: Lumber production structure by region, 2016
Figure 17: Industrial wood production structure by product, 2011 – 2015
Figure 18: Top largest industrial wood producing countries in the world, 2016
Figure 19: Top largest industrial wood consuming countries in the world, 2016
Figure 20: Global wood products production, 2003 – 2012
Figure 21: Global trade value of wood products, 2008 – 2015
Figure 22: Top the world’s largest wood processing and exporting countries by volume, 2015
Figure 23: Global wood chips trade, 2010 – 2016
Figure 24: Structure of wood chips import in the world, 2016
Figure 25: tructure of world wood chip exports, 2016
Figure 26: Average price of wood chips exported by some large countries, 2010 – 2016
Figure 27: Top largest industrial wood importing countries in the world, 2016
Figure 28: Global industrial wood trade, 2010 – 2015
Figure 29: Top largest industrial wood exporting countries in the world, 2016
Figure 30: Global furniture trade, 2005 – 2017F
Figure 31: Top 10 largest wooden furniture exporters in the world, 2016
Figure 32: Top 10 largest wooden furniture importers in the world, 2016
Figure 33: Number of enterprises and employees in wood industry, 2010 – 2016
Figure 34: Allocation of timber enterprises by region, 2010 – 2016
Figure 35: Scale of wood enterprises by investment and by labor, 2015
Figure 36: Total revenue and profit of the wood industry, 2010 – 2016
Figure 37: Investment capital and fixed assets of the industry, 2010 – 2016
Figure 38: Production value of wood processing industry, 2008 – 2017e
Figure 39: Wood chip production output in Vietnam, 2010 – Q1/2018
Figure 40: Artificial board production, 2010 – Q1/2018
Figure 41: Structure of wooden furniture production by product type, Q1/2018
Figure 42: Wooden product production, 2010 – Q1/2018
Figure 43: Giá trị Consumption đồ gỗ Việt Nam tại thị trường nội địa, 2006 – 2016e
Figure 44: Top largest timber enterprises in 2016
Figure 45: Consumption value of wood chips, 2010 – Q1/2018
Figure 46: Consumption value of artificial boards, 2010 – Q1/2018
Figure 47: Consumption value of wooden furniture, 2010 – Q1/2018
Figure 48: Export share of furniture in Vietnam and some South East Asian countries by market, 2016
Figure 49: Structure of wood and wood products exported by category, 2017
Figure 50: Export value of wood and wood products of Vietnam, 2011 – Q1/2018
Figure 51: Structure of export markets for wood and wood products Q1/2018
Figure 52: Export value of wood furniture and wood products of Vietnam, Q1/2017 – Q1/2018
Figure 53: Structure of contribution to export of wood and wood products of Vietnam, 2013 – Q1/2018
Figure 54: Export of wood and wood products by month, 2016 – 2018
Figure 55: Wood exports to the US market, 2011 – Q1/2018
Figure 56: Export value of some main products to US, 2015-2017
Figure 57: Wood exports to the China market, 2011 – Q1/2018
Figure 58: Export turnover of wood and wood products to Europe, 2009 – Q1/2018
Figure 59: Export share of wood and wood products to Europe by country, Q1/2018
Figure 60: Top exporters of wood and wood products to Europe, Q1/2018
Figure 61: Wood chip exports by volume, 2010 – 2017
Figure 62: Wood chip exports by value, 2010 – 2017
Figure 63: Structure of wood chip export markets by volume, 2017
Figure 64: Top largest wood chip exporting enterprises, 2017
Figure 65: Structure of wood chip export markets by value, 2017
Figure 66: Export value of all kinds of boards in Vietnam, 2011-2017
Figure 67: Export of boards in Vietnam, 2013 – 2017
Figure 68: Export volume and value of wooden products, 2013 – 2017
Figure 69: Export value of wooden furniture, 2010 – 2017
Figure 70: Export market structure of wooden furniture, 2017
Figure 71: Import of wood and wood products of Vietnam, 2010 – Q1/2018
Figure 72: Import market structure of wood and wood products Q1/2018
Figure 73: Gross profit margin, 2015 – 2016
Figure 74: Cost of sales/Net revenue ratio
Figure 75: General and administrative expenses/Net revenue ratio
Figure 76: Self-financing ratio, 2015 – 2016
Figure 77: Fixed assets turnover, 2015 – 2016
Figure 78: Average charge, 2015 – 2016
Figure 79: Inventory days, 2015 – 2016
Figure 80: Solvency, 2015 – 2016
Figure 81: Return ratio, 2015 – 2016
List of tables
Table 1: Value of Vietnamese wood products exported to China
Table 2: Major commodities exported to the EU, Q1/2018 (Unit: USD thousand)
Table 3: Top 10 largest wooden furniture exporters, 2017