Asia: Veneer Sheet Market 2024

Veneer Sheet Market Size in Asia

The Asian veneer sheet market shrank modestly to $X in 2022, with a decrease of -3.6% 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 shrank in the following year.

Veneer Sheet Production in Asia

In value terms, veneer sheet production contracted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2016 with an increase of 34%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Veneer Sheet Exports

Exports in Asia

In 2022, approx. X square meters of veneer sheets and sheets for plywood and other wood sawn lengthwise were exported in Asia; dropping by -9.7% against the previous year. In general, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 63%. The volume of export peaked at X square meters in 2021, and then reduced in the following year.

In value terms, veneer sheet exports dropped to $X in 2022. Over the period under review, exports, however, enjoyed resilient growth. The growth pace was the most rapid in 2021 when exports increased by 57%. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

China represented the main exporting country with an export of about X square meters, which reached 45% of total exports. Thailand (X square meters) ranks second in terms of the total exports with a 14% share, followed by Indonesia (11%), India (6.1%), Turkey (5.9%), Myanmar (5.5%), Malaysia (5.4%) and Vietnam (4.7%).

Exports from China increased at an average annual rate of +8.0% from 2012 to 2022. At the same time, Myanmar (+85.3%), Thailand (+55.6%), India (+22.4%), Indonesia (+19.5%), Turkey (+13.3%), Vietnam (+13.2%) and Malaysia (+4.6%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in Asia, with a CAGR of +85.3% from 2012-2022. From 2012 to 2022, the share of Thailand, Indonesia, Myanmar and India increased by +13, +5.7, +5.4 and +3.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest veneer sheet supplier in Asia, comprising 59% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 14% share of total exports. It was followed by Indonesia, with a 9.3% share.

In China, veneer sheet exports increased at an average annual rate of +11.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+14.6% per year) and Indonesia (+11.9% per year).

Export Prices by Country

The export price in Asia stood at $X per square meter in 2022, shrinking by -3.6% against the previous year. In general, the export price continues to indicate a pronounced slump. The growth pace was the most rapid in 2016 an increase of 11% against the previous year. Over the period under review, the export prices attained the peak figure at $X per square meter in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: 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

In 2022, overseas purchases of veneer sheets and sheets for plywood and other wood sawn lengthwise decreased by -11.6% to X square meters for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 72%. As a result, imports reached the peak of X square meters, and then dropped in the following year.

In value terms, veneer sheet imports rose notably to $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +40.2% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 33%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

China dominates imports structure, reaching X square meters, which was near 68% of total imports in 2022. It was distantly followed by India (X square meters), making up an 8.8% share of total imports. South Korea (X square meters), Taiwan (Chinese) (X square meters), Cambodia (X square meters), Vietnam (X square meters), Malaysia (X square meters), Turkey (X square meters) and Japan (X square meters) held a relatively small share 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%), Malaysia (+10.4%) and Turkey (+7.2%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in Asia, 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. China (+43 p.p.) and Cambodia (+2.4 p.p.) significantly strengthened its position in terms of the total imports, while South Korea, Taiwan (Chinese) and Japan saw its share reduced by -7.5%, -10.2% and -13.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), India ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 57% of total imports. Malaysia, Cambodia, South Korea, Japan, Taiwan (Chinese) and Turkey lagged somewhat behind, together comprising a further 26%.

In terms of the main importing countries, Cambodia, with a CAGR of +42.6%, saw the highest growth rate of 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 stood at $X per square meter in 2022, increasing by 19% against the previous year. Over the period under review, the import price, however, recorded a noticeable contraction. Over the period under review, import prices hit record highs at $X per square meter in 2012; however, from 2013 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 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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