Guatemala: Particle Board Market 2024

Particle Board Market Size in Guatemala

In 2022, after two years of growth, there was significant decline in the Guatemalan particle board market, when its value decreased by -10.7% to $X. Overall, consumption, however, continues to indicate a pronounced increase. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Particle Board Production in Guatemala

In value terms, particle board production declined to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt downturn. The pace of growth appeared the most rapid in 2021 when the production volume increased by 32%. Particle board production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Particle Board Exports

Exports from Guatemala

Particle board exports from Guatemala rose markedly to X cubic meters in 2022, surging by 5.3% on the year before. In general, total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.4% 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 +20.9% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 29% against the previous year. Over the period under review, the exports reached the peak figure at X cubic meters in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, particle board exports surged to $X in 2022. Overall, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.6% 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 +71.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 39%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

El Salvador (X cubic meters) was the main destination for particle board exports from Guatemala, accounting for a 51% share of total exports. Moreover, particle board exports to El Salvador exceeded the volume sent to the second major destination, Honduras (X cubic meters), twofold. Costa Rica (X cubic meters) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to El Salvador amounted to +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+8.5% per year) and Costa Rica (+5.6% per year).

In value terms, the largest markets for particle board exported from Guatemala were El Salvador ($X), Honduras ($X) and Costa Rica ($X), together comprising 88% of total exports. Nicaragua, Mexico and Panama lagged somewhat behind, together comprising a further 12%.

Mexico, with a CAGR of +38.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average particle board export price amounted to $X per cubic meter, rising by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2021 an increase of 21% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Honduras ($X per cubic meter) and Nicaragua ($X per cubic meter), while the average price for exports to El Salvador ($X per cubic meter) and Costa Rica ($X per cubic meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Particle Board Imports

Imports into Guatemala

In 2022, after four years of growth, there was significant decline in supplies from abroad of particle board, when their volume decreased by -12.9% to X cubic meters. In general, imports, however, enjoyed noticeable growth. The pace of growth appeared the most rapid in 2021 when imports increased by 96% against the previous year. As a result, imports reached the peak of X cubic meters, and then shrank in the following year.

In value terms, particle board imports expanded notably to $X in 2022. Over the period under review, imports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2021 when imports increased by 144% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Chile (X cubic meters) constituted the largest particle board supplier to Guatemala, accounting for a 45% share of total imports. Moreover, particle board imports from Chile exceeded the figures recorded by the second-largest supplier, Mexico (X cubic meters), twofold. China (X cubic meters) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Chile amounted to +46.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-6.7% per year) and China (+9.3% per year).

In value terms, Chile ($X) constituted the largest supplier of particle board to Guatemala, comprising 45% of total imports. The second position in the ranking was taken by Mexico ($X), with a 16% share of total imports. It was followed by China, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Chile totaled +51.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-3.2% per year) and China (+19.8% per year).

Import Prices by Country

The average particle board import price stood at $X per cubic meter in 2022, picking up by 28% against the previous year. In general, import price indicated a resilient expansion from 2012 to 2022: its price 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, particle board import price increased by +58.9% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 China ($X per cubic meter), while the price for Turkey ($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 (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform