Nepal: Veneer Sheets Market 2024

Veneer Sheets Market Size in Nepal

In 2022, the Nepalese veneer sheets market decreased by -0.2% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak level of $X, leveling off in the following year.

Veneer Sheets Production in Nepal

In value terms, veneer sheets production reached $X in 2022 estimated in export price. Overall, production saw buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of 51%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Veneer Sheets Exports

Exports from Nepal

In 2022, shipments abroad of veneer sheets decreased by -2.9% to X cubic meters for the first time since 2018, thus ending a three-year rising trend. In general, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 19%. As a result, the exports reached the peak of X cubic meters. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, veneer sheets exports declined to $X in 2022. Overall, exports saw a pronounced decline. The pace of growth appeared the most rapid in 2019 with an increase of 19%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

India (X cubic meters) was the main destination for veneer sheets exports from Nepal, accounting for a 94% share of total exports. Moreover, veneer sheets exports to India exceeded the volume sent to the second major destination, China (X cubic meters), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to India amounted to -10.4%.

In value terms, India ($X) remains the key foreign market for veneer sheets exports from Nepal, comprising 96% of total exports. The second position in the ranking was held by China ($X), with a 2.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to India amounted to -3.1%.

Export Prices by Country

In 2022, the average veneer sheets export price amounted to $X per cubic meter, falling by -3.9% against the previous year. Overall, the export price, however, continues to indicate a strong increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by 51% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per cubic meter in 2021, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per cubic meter), while the average price for exports to China amounted to $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+34.5%).

Veneer Sheets Imports

Imports into Nepal

In 2022, the amount of veneer sheets imported into Nepal expanded rapidly to X cubic meters, picking up by 9.7% compared with the year before. Over the period under review, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 127%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, veneer sheets imports declined remarkably to $X in 2022. In general, imports showed resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 85% against the previous year. Imports peaked at $X in 2021, and then contracted rapidly in the following year.

Imports by Country

In 2022, India (X cubic meters) constituted the largest supplier of veneer sheets to Nepal, accounting for a 66% share of total imports. Moreover, veneer sheets imports from India exceeded the figures recorded by the second-largest supplier, Gabon (X cubic meters), fourfold. The third position in this ranking was taken by Myanmar (X cubic meters), with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at +33.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Gabon (+182.1% per year) and Myanmar (+32.8% per year).

In value terms, India ($X) constituted the largest supplier of veneer sheets to Nepal, comprising 65% of total imports. The second position in the ranking was taken by Myanmar ($X), with a 15% share of total imports. It was followed by China, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled +14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Myanmar (+30.9% per year) and China (+40.0% per year).

Import Prices by Country

In 2022, the average veneer sheets import price amounted to $X per cubic meter, dropping by -25.1% against the previous year. Over the period under review, the import price showed a abrupt decline. The pace of growth was the most pronounced in 2021 an increase of 11%. Over the period under review, average import prices hit record highs at $X per cubic meter in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Indonesia ($X per cubic meter), while the price for Gabon ($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 Indonesia (+11.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform