Eastern Asia: Market for Builders' Joinery And Carpentry Of Wood (Excl. Windows, Doors, Posts and Beams, Assembled Flooring Panels) 2024

Market Size for Builders' Joinery And Carpentry Of Wood (Excl. Windows, Doors, Posts and Beams, Assembled Flooring Panels) in Eastern Asia

The East Asian market for builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) stood at $X in 2022, remaining relatively unchanged against the previous year. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 -3.9% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Builders' Joinery And Carpentry Of Wood (Excl. Windows, Doors, Posts and Beams, Assembled Flooring Panels) in Eastern Asia

In value terms, production of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) expanded modestly to $X in 2022 estimated in export price. The total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 -3.3% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 48% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Builders' Joinery And Carpentry Of Wood (Excl. Windows, Doors, Posts and Beams, Assembled Flooring Panels)

Exports in Eastern Asia

After four years of growth, overseas shipments of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) decreased by -32.7% to X tons in 2022. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 51%. As a result, the exports reached the peak of X tons, and then reduced rapidly in the following year.

In value terms, exports of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) declined to $X in 2022. Total exports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.4% 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 +40.6% against 2017 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 39% against the previous year. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

China dominates panels) structure, recording X tons, which was approx. 95% of total exports in 2022. The following exporters - Japan (X tons) and Hong Kong SAR (X tons) - together made up 4.1% of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels). At the same time, Japan (+9.4%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +9.4% from 2012-2022. By contrast, Hong Kong SAR (-13.4%) illustrated a downward trend over the same period. China (+4.2 p.p.) and Japan (+1.5 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -5.1% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest wooden builders' joinery and carpentry (excl. windows, doors, posts and beams, assembled flooring panels) supplier in Eastern Asia, comprising 87% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 7.5% share of total exports.

In China, exports of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) increased at an average annual rate of +3.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (-4.1% per year) and Japan (+13.4% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, rising by 28% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2017 when the export price increased by 43%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+10.8%), while the other leaders experienced more modest paces of growth.

Imports of Builders' Joinery And Carpentry Of Wood (Excl. Windows, Doors, Posts and Beams, Assembled Flooring Panels)

Imports in Eastern Asia

In 2022, the amount of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) imported in Eastern Asia declined rapidly to X tons, which is down by -43.6% on 2021. Overall, imports continue to indicate a noticeable setback. The pace of growth was the most pronounced in 2013 when imports increased by 17%. Over the period under review, imports of hit record highs at X tons in 2021, and then declined significantly in the following year.

In value terms, imports of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) shrank sharply to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 25% against the previous year. As a result, imports attained the peak of $X, and then contracted remarkably in the following year.

Imports by Country

Japan prevails in panels) structure, finishing at X tons, which was near 86% of total imports in 2022. It was distantly followed by South Korea (X tons), constituting a 5.9% share of total imports. The following importers - Macao SAR (X tons), China (X tons) and Hong Kong SAR (X tons) - together made up 7.5% of total imports.

Imports into Japan decreased at an average annual rate of -3.3% from 2012 to 2022. At the same time, South Korea (+18.9%), Macao SAR (+16.8%) and China (+10.9%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +18.9% from 2012-2022. By contrast, Hong Kong SAR (-5.0%) illustrated a downward trend over the same period. South Korea (+5 p.p.), Macao SAR (+2.9 p.p.) and China (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Japan saw its share reduced by -8.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) in Eastern Asia, comprising 90% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 3.8% share of total imports. It was followed by South Korea, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value in Japan was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (-3.5% per year) and South Korea (+16.9% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, growing by 23% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Macao SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+3.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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