Azerbaijan: Mdf Market 2024

Mdf Market Size in Azerbaijan

The Azerbaijani MDF market skyrocketed to $X in 2021, rising by 59% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw strong growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Mdf Exports

Exports from Azerbaijan

In 2021, the amount of MDF exported from Azerbaijan declined dramatically to X cubic meters, with a decrease of -60.9% against the previous year. Overall, exports continue to indicate a precipitous setback. The most prominent rate of growth was recorded in 2017 when exports increased by 181%. Over the period under review, the exports attained the maximum at X cubic meters in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, MDF exports fell dramatically to $X in 2021. Over the period under review, exports faced a abrupt decrease. The growth pace was the most rapid in 2020 with an increase of 259%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Iran (X cubic meters), Turkey (X cubic meters) and Georgia (X cubic meters) were the main destinations of MDF exports from Azerbaijan.

From 2012 to 2021, the biggest increases were recorded for Georgia (with a CAGR of +40.9%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Turkey ($X), Iran ($X) and Georgia ($X) appeared to be the largest markets for MDF exported from Azerbaijan worldwide.

Among the main countries of destination, Turkey, with a CAGR of +20.6%, 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 mixed trend patterns.

Export Prices by Country

In 2021, the average MDF export price amounted to $X per cubic meter, rising by 19% against the previous year. In general, export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, MDF export price increased by +44.9% against 2016 indices. The pace of growth was the most pronounced in 2016 when the average export price increased by 36% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per cubic meter), while the average price for exports to Iran ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+7.4%), while the prices for the other major destinations experienced mixed trend patterns.

Mdf Imports

Imports into Azerbaijan

MDF imports into Azerbaijan soared to X cubic meters in 2021, jumping by 36% against 2020. In general, imports showed a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, MDF imports soared to $X in 2021. Over the period under review, imports enjoyed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Russia (X cubic meters) constituted the largest supplier of MDF to Azerbaijan, with a 54% share of total imports. Moreover, MDF imports from Russia exceeded the figures recorded by the second-largest supplier, Turkey (X cubic meters), threefold. Belarus (X cubic meters) ranked third in terms of total imports with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia totaled +20.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+7.8% per year) and Belarus (+64.2% per year).

In value terms, Russia ($X) constituted the largest supplier of MDF to Azerbaijan, comprising 54% of total imports. The second position in the ranking was taken by Turkey ($X), with a 21% share of total imports. It was followed by Belarus, with a 19% share.

From 2012 to 2021, the average annual growth rate of value from Russia totaled +28.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+9.8% per year) and Belarus (+56.7% per year).

Import Prices by Country

In 2021, the average MDF import price amounted to $X per cubic meter, picking up by 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.2%. The growth pace was the most rapid in 2015 an increase of 25%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Turkey ($X per cubic meter) and Russia ($X per cubic meter), while the price for Ukraine ($X per cubic meter) and Belarus ($X per cubic meter) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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