ASEAN: Wood-Based Panels Market 2024

Wood-Based Panels Market Size in ASEAN

In 2022, the ASEAN wood-based panels market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X; afterwards, it flattened through to 2022.

Wood-Based Panels Production in ASEAN

In value terms, wood-based panels production declined modestly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Wood-Based Panels Exports

Exports in ASEAN

After two years of growth, shipments abroad of wood-based panels decreased by X% to X cubic meters in 2022. The total export volume increased at an average annual rate of X% 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 with an increase of X%. As a result, the exports attained the peak of X cubic meters, and then shrank significantly in the following year.

In value terms, wood-based panels exports fell to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then reduced in the following year.

Exports by Country

Thailand represented the largest exporter of wood-based panels in ASEAN, with the volume of exports recording X cubic meters, which was approx. X% of total exports in 2022. Indonesia (X cubic meters) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (X%) and Vietnam (X%).

From 2012 to 2022, average annual rates of growth with regard to wood-based panels exports from Thailand stood at X%. At the same time, Vietnam (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Indonesia (X%) and Malaysia (X%) illustrated a downward trend over the same period. Thailand (X p.p.) and Vietnam (X p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Malaysia saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, the largest wood-based panels supplying countries in ASEAN were Indonesia ($X), Vietnam ($X) and Thailand ($X), with a combined X% share of total exports.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per cubic meter, rising by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per cubic meter), while Thailand ($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 Vietnam (X%), while the other leaders experienced mixed trends in the export price figures.

Wood-Based Panels Imports

Imports in ASEAN

After two years of growth, supplies from abroad of wood-based panels decreased by X% to X cubic meters in 2022. In general, imports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of X cubic meters, and then dropped rapidly in the following year.

In value terms, wood-based panels imports fell to $X in 2022. Over the period under review, imports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of X%. The level of import peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Malaysia (X cubic meters), Vietnam (X cubic meters) and Thailand (X cubic meters) represented the major importer of wood-based panels in ASEAN, generating X% of total import. The Philippines (X cubic meters) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (X%), Singapore (X%) and Cambodia (X%).

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Malaysia ($X) and the Philippines ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports. Thailand, Indonesia, Cambodia and Singapore lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per cubic meter, picking up by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The level of import peaked at $X per cubic meter in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cambodia ($X per cubic meter), while Thailand ($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 Indonesia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform