Eastern Asia: Particle Board Market 2024

Particle Board Market Size in Eastern Asia

The East Asian particle board market expanded markedly to $X in 2022, with an increase of 6.1% against the previous year. The total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +8.0% 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 -2.1% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Particle Board Production in Eastern Asia

In value terms, particle board production rose rapidly to $X in 2022 estimated in export price. The total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +8.9% 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 -7.3% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 41%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Particle Board Exports

Exports in Eastern Asia

After two years of growth, overseas shipments of particle board decreased by -39.3% to X cubic meters in 2022. In general, exports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2021 with an increase of 128% against the previous year. As a result, the exports attained the peak of X cubic meters, and then fell markedly in the following year.

In value terms, particle board exports declined to $X in 2022. Overall, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 154% against the previous year. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

China dominates exports structure, accounting for X cubic meters, which was near 97% of total exports in 2022. Japan (X cubic meters) took a relatively small share of total exports.

China was also the fastest-growing in terms of the particle board exports, with a CAGR of +10.3% from 2012 to 2022. At the same time, Japan (+4.8%) displayed positive paces of growth. While the share of China (+3.9 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest particle board supplier in Eastern Asia, comprising 98% of total exports. The second position in the ranking was taken by Japan ($X), with a 1% share of total exports.

In China, particle board exports increased at an average annual rate of +19.0% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per cubic meter, with an increase of 49% against the previous year. Export price indicated a strong expansion from 2012 to 2022: its price 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, particle board export price increased by +121.4% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per cubic meter), while Japan stood at $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.8%).

Particle Board Imports

Imports in Eastern Asia

In 2022, purchases abroad of particle board decreased by -1% to X cubic meters for the first time since 2019, thus ending a two-year rising trend. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.2% 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 +9.9% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 25%. The volume of import peaked at X cubic meters in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, particle board imports stood at $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.8% 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 +50.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 35% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, South Korea (X cubic meters) and China (X cubic meters) represented the major importers of particle board in Eastern Asia, together creating 69% of total imports. Japan (X cubic meters) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (13%).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +8.3%), 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, together comprising 88% of total imports.

China, with a CAGR of +13.4%, saw the highest growth rate of the value of imports, among 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 Eastern Asia amounted to $X per cubic meter, increasing by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2021 an increase of 25%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per cubic meter), while South Korea ($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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