Asia: Particle Board Market 2024

Particle Board Market Size in Asia

In 2022, the Asian particle board market increased by 2.1% to $X for the first time since 2019, thus ending a two-year declining trend. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 -1.4% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Particle Board Production in Asia

In value terms, particle board production declined modestly to $X in 2022 estimated in export price. Overall, production, however, posted buoyant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 54% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Particle Board Exports

Exports in Asia

In 2022, after two years of growth, there was significant decline in shipments abroad of particle board, when their volume decreased by -20.4% to X cubic meters. Total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +22.5% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 28% against the previous year. As a result, the exports reached the peak of X cubic meters, and then dropped notably in the following year.

In value terms, particle board exports fell to $X in 2022. Over the period under review, exports, however, posted a buoyant increase. The growth pace was the most rapid in 2021 when exports increased by 65%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

Thailand was the largest exporter of particle board in Asia, with the volume of exports recording X cubic meters, which was near 52% of total exports in 2022. Turkey (X cubic meters) took the second position in the ranking, distantly followed by China (X cubic meters) and Malaysia (X cubic meters). All these countries together took near 44% share of total exports.

Exports from Thailand increased at an average annual rate of +3.5% from 2012 to 2022. At the same time, Turkey (+13.5%) and China (+10.3%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +13.5% from 2012-2022. By contrast, Malaysia (-3.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and China increased by +13 and +4.9 percentage points, respectively.

In value terms, Thailand ($X), China ($X) and Turkey ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 89% share of total exports.

In terms of the main exporting countries, China, with a CAGR of +19.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per cubic meter, increasing by 15% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2021 when the export price increased by 29%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in years to come.

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 China ($X per cubic meter), while Thailand ($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 China (+7.8%), while the other leaders experienced mixed trends in the export price figures.

Particle Board Imports

Imports in Asia

In 2022, imports of particle board in Asia shrank to X cubic meters, waning by -5.3% compared with the previous year's figure. The total import volume increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 23%. The volume of import peaked at X cubic meters in 2021, and then declined in the following year.

In value terms, particle board imports amounted to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +43.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 40%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

South Korea (X cubic meters) and China (X cubic meters) were the key importers of particle board in 2022, finishing at near 16% and 16% of total imports, respectively. Uzbekistan (X cubic meters) held an 8.3% share (based on physical terms) of total imports, which put it in second place, followed by Japan (8%), Kazakhstan (7.7%), Malaysia (6.4%) and Taiwan (Chinese) (6.1%). Vietnam (X cubic meters), Azerbaijan (X cubic meters), Tajikistan (X cubic meters), Indonesia (X cubic meters), Georgia (X cubic meters) and the United Arab Emirates (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +24.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 44% share of total imports. Kazakhstan, Uzbekistan, Taiwan (Chinese), Malaysia, Vietnam, Azerbaijan, Georgia, the United Arab Emirates, Indonesia and Tajikistan lagged somewhat behind, together comprising a further 37%.

Uzbekistan, with a CAGR of +16.4%, saw the highest growth rate of 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

In 2022, the import price in Asia amounted to $X per cubic meter, with an increase of 8.1% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 24%. The level of import peaked in 2022 and is likely to continue growth in years to come.

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 Japan ($X per cubic meter), while Vietnam ($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 China (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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