Eastern Asia: Veneer Sheet Market 2024

Veneer Sheet Market Size in Eastern Asia

The East Asian veneer sheet market shrank to $X in 2022, dropping by -3.8% against the previous year. The total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +51.6% against 2020 indices. As a result, consumption attained the peak level of $X, and then fell slightly in the following year.

Veneer Sheet Production in Eastern Asia

In value terms, veneer sheet production reduced to $X in 2022 estimated in export price. In general, production recorded a perceptible decline. The most prominent rate of growth was recorded in 2016 with an increase of 83%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Veneer Sheet Exports

Exports in Eastern Asia

Veneer sheet exports contracted markedly to X square meters in 2022, waning by -22.6% against the previous year's figure. Over the period under review, exports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2017 when exports increased by 66%. Over the period under review, the exports hit record highs at X square meters in 2021, and then contracted significantly in the following year.

In value terms, veneer sheet exports shrank sharply to $X in 2022. Overall, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 48% against the previous year. As a result, the exports attained the peak of $X, and then fell rapidly in the following year.

Exports by Country

China (X square meters) represented roughly 98% of total exports in 2022.

China was also the fastest-growing in terms of the veneer sheets and sheets for plywood and other wood sawn lengthwise exports, with a CAGR of +8.0% from 2012 to 2022. China (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest veneer sheet supplier in Eastern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +11.1%.

Export Prices by Country

The export price in Eastern Asia stood at $X per square meter in 2022, picking up by 8.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2016 an increase of 29%. The level of export peaked in 2022 and is likely to continue growth in years to come.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +2.8% per year.

Veneer Sheet Imports

Imports in Eastern Asia

After four years of growth, overseas purchases of veneer sheets and sheets for plywood and other wood sawn lengthwise decreased by -13.7% to X square meters in 2022. Overall, imports, however, posted prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 90% against the previous year. As a result, imports reached the peak of X square meters, and then reduced in the following year.

In value terms, veneer sheet imports rose remarkably to $X in 2022. The total import value increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 41%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

China prevails in imports structure, resulting at X square meters, which was approx. 89% of total imports in 2022. The following importers - South Korea (X square meters), Taiwan (Chinese) (X square meters) and Japan (X square meters) - together made up 11% of total imports.

China was also the fastest-growing in terms of the veneer sheets and sheets for plywood and other wood sawn lengthwise imports, with a CAGR of +24.0% from 2012 to 2022. South Korea experienced a relatively flat trend pattern. Taiwan (Chinese) (-3.5%) and Japan (-9.5%) illustrated a downward trend over the same period. While the share of China (+51 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (-12.4 p.p.), Taiwan (Chinese) (-16.5 p.p.) and Japan (-21.7 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported veneer sheets and sheets for plywood and other wood sawn lengthwise in Eastern Asia, comprising 69% of total imports. The second position in the ranking was held by South Korea ($X), with an 11% share of total imports. It was followed by Japan, with a 9.8% share.

In China, veneer sheet imports increased at an average annual rate of +14.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (-2.7% per year) and Japan (-7.2% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per square meter in 2022, with an increase of 28% against the previous year. Overall, the import price, however, recorded a abrupt decrease. Over the period under review, import prices attained the maximum at $X per square meter in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per square meter), while China ($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 Japan (+2.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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