ASEAN: Particle Board Market 2025

Particle Board Market Size in ASEAN

The ASEAN particle board market shrank to $X in 2022, which is down by -5.3% against the previous year. The total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -11.5% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Particle Board Production in ASEAN

In value terms, particle board production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 31%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Particle Board Exports

Exports in ASEAN

After two years of growth, overseas shipments of particle board decreased by -21% to X cubic meters in 2022. The total export volume increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when exports increased by 30%. Over the period under review, the exports reached the maximum at X cubic meters in 2021, and then dropped remarkably in the following year.

In value terms, particle board exports fell notably to $X in 2022. The total export value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 36%. As a result, the exports attained the peak of $X, and then reduced remarkably in the following year.

Exports by Country

In 2022, Thailand (X cubic meters) represented the main exporter of particle board, generating 85% of total exports. It was distantly followed by Malaysia (X cubic meters), mixing up an 11% share of total exports. Indonesia (X cubic meters) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to particle board exports from Thailand stood at +3.5%. At the same time, Indonesia (+14.2%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +14.2% from 2012-2022. By contrast, Malaysia (-3.2%) illustrated a downward trend over the same period. While the share of Thailand (+7.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (-9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest particle board supplier in ASEAN, comprising 81% of total exports. The second position in the ranking was held by Malaysia ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Thailand amounted to +3.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-3.9% per year) and Indonesia (+8.0% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per cubic meter, surging by 4.3% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 25% against the previous year. As a result, the export price reached the peak level of $X per cubic meter. From 2020 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per cubic meter), while Thailand ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (-0.2%), while the other leaders experienced a decline in the export price figures.

Particle Board Imports

Imports in ASEAN

In 2022, after three years of growth, there was significant decline in supplies from abroad of particle board, when their volume decreased by -25.6% to X cubic meters. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 20%. Over the period under review, imports hit record highs at X cubic meters in 2021, and then fell dramatically in the following year.

In value terms, particle board imports contracted to $X in 2022. The total import value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 33%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, Malaysia (X cubic meters), distantly followed by Vietnam (X cubic meters), Indonesia (X cubic meters) and the Philippines (X cubic meters) represented the main importers of particle board, together making up 93% of total imports. The following importers - Myanmar (X cubic meters) and Cambodia (X cubic meters) - each finished at a 4.4% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cambodia (with a CAGR of +20.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Vietnam ($X) and Indonesia ($X) were the countries with the highest levels of imports in 2022, together comprising 76% of total imports. The Philippines, Cambodia and Myanmar lagged somewhat behind, together comprising a further 20%.

Cambodia, with a CAGR of +18.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per cubic meter in 2022, surging by 24% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Philippines ($X per cubic meter), while Vietnam ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform