Asia-Pacific: Veneer Sheet Market 2025

Veneer Sheet Market Size in Asia-Pacific

The Asia-Pacific veneer sheet market reduced to $X in 2022, falling by -2.7% against the previous year. The market value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Veneer Sheet Production in Asia-Pacific

In value terms, veneer sheet production fell to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 when the production volume increased by 33% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Veneer Sheet Exports

Exports in Asia-Pacific

Veneer sheet exports dropped to X square meters in 2022, with a decrease of -14.4% compared with 2021. Overall, exports, however, posted a temperate increase. The most prominent rate of growth was recorded in 2021 when exports increased by 47% against the previous year. As a result, the exports attained the peak of X square meters, and then fell in the following year.

In value terms, veneer sheet exports shrank rapidly to $X in 2022. Over the period under review, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 54% against the previous year. As a result, the exports reached the peak of $X, and then fell sharply in the following year.

Exports by Country

In 2022, China (X square meters) represented the key exporter of veneer sheets and sheets for plywood and other wood sawn lengthwise, creating 46% of total exports. Thailand (X square meters) held the second position in the ranking, followed by Indonesia (X square meters), India (X square meters), Myanmar (X square meters), Malaysia (X square meters) and Vietnam (X square meters). All these countries together held near 48% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to veneer sheet exports from China stood at +8.0%. At the same time, Myanmar (+85.3%), Thailand (+55.6%), India (+22.4%), Indonesia (+19.5%), Vietnam (+13.2%) and Malaysia (+4.6%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +85.3% from 2012-2022. From 2012 to 2022, the share of Thailand, China, Indonesia, Myanmar, India and Vietnam increased by +14, +12, +8.1, +5.6, +4.9 and +2.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest veneer sheet supplier in Asia-Pacific, comprising 62% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 14% share of total exports. It was followed by Indonesia, with a 9.6% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +11.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+14.6% per year) and Indonesia (+11.9% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per square meter, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2015 when the export price increased by 12% against the previous year. Over the period under review, the export prices attained the maximum at $X per square meter in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per square meter), while Thailand (less than $X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.8%), while the other leaders experienced mixed trends in the export price figures.

Veneer Sheet Imports

Imports in Asia-Pacific

In 2022, after four years of growth, there was significant decline in overseas purchases of veneer sheets and sheets for plywood and other wood sawn lengthwise, when their volume decreased by -12.1% to X square meters. In general, imports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of 75% against the previous year. As a result, imports reached the peak of X square meters, and then shrank in the following year.

In value terms, veneer sheet imports rose to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.8% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 35%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

China prevails in imports structure, reaching X square meters, which was approx. 70% of total imports in 2022. It was distantly followed by India (X square meters), constituting a 9.1% share of total imports. The following importers - South Korea (X square meters), Taiwan (Chinese) (X square meters), Cambodia (X square meters), Vietnam (X square meters), Malaysia (X square meters) and Japan (X square meters) - together made up 16% of total imports.

Imports into China increased at an average annual rate of +24.0% from 2012 to 2022. At the same time, Cambodia (+33.4%), Vietnam (+18.7%), India (+12.3%) and Malaysia (+10.4%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +33.4% from 2012-2022. South Korea experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-3.5%) and Japan (-9.5%) illustrated a downward trend over the same period. While the share of China (+42 p.p.) and Cambodia (+2.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (-8.8 p.p.), Taiwan (Chinese) (-11.8 p.p.) and Japan (-15.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest veneer sheet importing markets in Asia-Pacific were China ($X), India ($X) and Vietnam ($X), with a combined 62% share of total imports. These countries were followed by Malaysia, Cambodia, South Korea, Japan and Taiwan (Chinese), which together accounted for a further 24%.

In terms of the main importing countries, Cambodia, with a CAGR of +42.6%, saw 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

The import price in Asia-Pacific stood at $X per square meter in 2022, picking up by 19% against the previous year. Overall, the import price, however, showed a abrupt curtailment. The level of import peaked at $X per square meter in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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