China: Fromwork Market 2024

Fromwork Market Size in China

The Chinese fromwork market rose rapidly to $X in 2022, surging by 7.4% against the previous year. In general, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.7% 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 -2.4% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Fromwork Production in China

In value terms, fromwork production amounted to $X in 2022 estimated in export price. Over the period under review, the total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.8% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 26%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Fromwork Exports

Exports from China

In 2022, approx. X tons of shuttering for concrete constructional work, shingles and shakes, of wood were exported from China; dropping by -33% against the previous year. Over the period under review, total exports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -38.4% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 63%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, fromwork exports declined remarkably to $X in 2022. Overall, total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 26% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped remarkably in the following year.

Exports by Country

The United States (X tons), Australia (X tons) and Malaysia (X tons) were the main destinations of fromwork exports from China, with a combined 21% share of total exports. Mauritania, Mongolia, Thailand, Maldives, Singapore, Indonesia, Ethiopia, Ghana, Bangladesh and Israel lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +8,333.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for shuttering for concrete constructional work, shingles and shakes, of wood exports from China, comprising 16% of total exports. The second position in the ranking was held by Australia ($X), with a 5.8% share of total exports. It was followed by Malaysia, with a 5.2% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled -1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+33.9% per year) and Malaysia (+28.8% per year).

Export Prices by Country

In 2022, the average fromwork export price amounted to $X per ton, surging by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2020 an increase of 20%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+18.9%), while the prices for the other major destinations experienced more modest paces of growth.

Fromwork Imports

Imports into China

In 2022, overseas purchases of shuttering for concrete constructional work, shingles and shakes, of wood decreased by -23% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 335% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, fromwork imports declined remarkably to $X in 2022. Overall, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 99% against the previous year. As a result, imports reached the peak of $X, and then fell sharply in the following year.

Imports by Country

In 2022, Austria (X tons) constituted the largest supplier of fromwork to China, with a 72% share of total imports. Moreover, fromwork imports from Austria exceeded the figures recorded by the second-largest supplier, Slovakia (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from Austria totaled +17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+58.3% per year) and Vietnam (-84.1% per year).

In value terms, the largest fromwork suppliers to China were Austria ($X), Slovakia ($X) and Vietnam ($X), with a combined 100% share of total imports.

Slovakia, with a CAGR of +65.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average fromwork import price amounted to $X per ton, with a decrease of -4.3% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 125% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+82.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform