Vietnam Wood Chips Market Growth, Future Challenges and In-depth Research Analysis Report by 2031

Research Nester has released a report titled “Vietnam Wood ChipsMarket: Demand Analysis & Opportunity Outlook 2031”which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.

The total consumption of energy in the industrial, residential, and commercial sector in Vietnam touched 408942 TJ, 233266 TJ, 87300 TJ, and 23735 TJ respectively in the year 2019, up from 10246 TJ, 8294 TJ, 2113 TJ, and 1616 TJ respectively in the year 1990, according to the statistics by the International Energy Agency (IEA).

The statistics portray the growing demand for energy in Vietnam, backed by the growing number of industries being deployed in the nation, as well as for the surging urbanization. Besides this, the growing dependence on electricity is also raising the need for greater production of energy among the energy producers. Owing to such a factor, the energy producers are looking for various fuel sources which are not just eco-friendly, but also cost-effective. Wood chips are widely in use to produce energy as it possesses the required characteristics. The surge in demand for wood chips to produce energy is therefore expected to drive the growth of the Vietnam wood chips market.

The Vietnam wood chips market is anticipated to grow with a CAGR of 11.3% over the forecast period, i.e., 2022 – 2031.The market isestimated to garner a revenue of USD 24.4 Million by the end of 2031. Additionally, the market generated a revenue of USD 8.4 Million in the year 2021.The market is segmented by variety into forest chips, recycled chips, wood-residue chips, and sawing residue chips. The forest chips segment, out of all the other segments, is projected to garner the largest revenue of USD 10.1 Million by the end of 2031. Additionally, in the year 2021, the segment generated a revenue of USD 3.6 Million.

By region, the Vietnam wood chips market is segmented by region into North, Central, and South, out of which, the market in Central Vietnam is expected to garner the largest revenue of USD 11.4 Million by the end of 2031. Moreover, the market in the region registered a revenue of USD 4.1 Million in the year 2021.

However, the availability of low-cost alternatives is projected to hinder the market growth in the coming years.

This report also provides the existing competitive scenario of some of the key players of the Vietnam wood chips market, which includes company profiling ofLEC 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.

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Vietnam Wood ChipsMarket: Demand Analysis & Opportunity Outlook 2031”, analyses the overallVietnam wood chipsindustry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the Vietnam wood chips market in the near future.

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