Philippines: Particle Board Market 2025

Particle Board Market Size in the Philippines

The Philippine particle board market dropped to $X in 2022, reducing by -12.9% against the previous year. Overall, consumption, however, continues to indicate a strong increase. Over the period under review, the market attained the maximum level at $X in 2021, and then shrank in the following year.

Particle Board Production in the Philippines

In value terms, particle board production stood at $X in 2022 estimated in export price. Over the period under review, production showed a mild decrease. The pace of growth appeared the most rapid in 2016 when the production volume increased by 11% against the previous year. Particle board production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Particle Board Exports

Exports from the Philippines

In 2022, the amount of particle board exported from the Philippines declined to X cubic meters, which is down by -12.8% compared with the previous year. In general, exports, however, recorded a significant increase. The growth pace was the most rapid in 2017 with an increase of 57,200%. The exports peaked at X cubic meters in 2021, and then reduced in the following year.

In value terms, particle board exports expanded significantly to $X in 2022. Overall, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 4,892,192%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Japan (X cubic meters) was the main destination for particle board exports from the Philippines, accounting for a 69% share of total exports. Moreover, particle board exports to Japan exceeded the volume sent to the second major destination, the United States (X cubic meters), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan stood at +115.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+118.0% per year) and Indonesia (+167.2% per year).

In value terms, Japan ($X) remains the key foreign market for particle board exports from the Philippines, comprising 67% of total exports. The second position in the ranking was taken by the United States ($X), with a 26% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Japan stood at +120.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+29.8% per year) and Indonesia (+73.2% per year).

Export Prices by Country

The average particle board export price stood at $X per cubic meter in 2022, picking up by 21% against the previous year. Overall, the export price recorded a resilient expansion. The pace of growth appeared the most rapid in 2017 when the average export price increased by 8,438%. As a result, the export price attained the peak level of $X per cubic meter. From 2018 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per cubic meter), while the average price for exports to the United States ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+2.2%), while the prices for the other major destinations experienced a decline.

Particle Board Imports

Imports into the Philippines

In 2022, imports of particle board into the Philippines fell sharply to X cubic meters, declining by -30.3% against 2021. Over the period under review, imports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 622% against the previous year. Imports peaked at X cubic meters in 2021, and then dropped markedly in the following year.

In value terms, particle board imports fell to $X in 2022. Overall, imports, however, showed strong growth. The growth pace was the most rapid in 2017 with an increase of 564%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Malaysia (X cubic meters) constituted the largest particle board supplier to the Philippines, with a 44% share of total imports. Moreover, particle board imports from Malaysia exceeded the figures recorded by the second-largest supplier, Thailand (X cubic meters), threefold. China (X cubic meters) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia amounted to +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+2.9% per year) and China (+10.9% per year).

In value terms, Malaysia ($X) constituted the largest supplier of particle board to the Philippines, comprising 43% of total imports. The second position in the ranking was taken by Thailand ($X), with a 14% 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 Malaysia totaled +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+11.8% per year) and China (+19.1% 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. Over the period under review, import price indicated a buoyant increase 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 +52.4% against 2017 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Thailand ($X per cubic meter) and China ($X per cubic meter), while the price for Slovenia ($X per cubic meter) and Indonesia ($X per cubic meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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