SADC: Veneer Sheets Market 2024

Veneer Sheets Market Size in SADC

In 2022, the SADC veneer sheets market decreased by -14% to $X for the first time since 2014, thus ending a seven-year rising trend. In general, consumption, however, posted prominent growth. The level of consumption peaked at $X in 2021, and then contracted in the following year.

Veneer Sheets Production in SADC

In value terms, veneer sheets production fell slightly to $X in 2022 estimated in export price. Over the period under review, production, however, posted buoyant growth. The pace of growth appeared the most rapid in 2016 with an increase of 122%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Veneer Sheets Exports

Exports in SADC

In 2022, the amount of veneer sheets exported in SADC skyrocketed to X cubic meters, growing by 302% against 2021 figures. In general, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, veneer sheets exports skyrocketed to $X in 2022. Over the period under review, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 62%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Tanzania represented the main exporting country with an export of around X cubic meters, which amounted to 72% of total exports. Mozambique (X cubic meters) took a 12% share (based on physical terms) of total exports, which put it in second place, followed by Zimbabwe (8.2%). The following exporters - South Africa (X cubic meters) and Democratic Republic of the Congo (X cubic meters) - each accounted for a 7.4% share of total exports.

Exports from Tanzania increased at an average annual rate of +43.7% from 2012 to 2022. At the same time, Zimbabwe (+61.8%), Mozambique (+59.9%) and Democratic Republic of the Congo (+13.9%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing exporter exported in SADC, with a CAGR of +61.8% from 2012-2022. By contrast, South Africa (-2.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Tanzania, Mozambique and Zimbabwe increased by +49, +11 and +7.4 percentage points, respectively.

In value terms, Tanzania ($X) remains the largest veneer sheets supplier in SADC, comprising 69% of total exports. The second position in the ranking was taken by South Africa ($X), with a 14% share of total exports. It was followed by Democratic Republic of the Congo, with a 7.6% share.

In Tanzania, veneer sheets exports expanded at an average annual rate of +39.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: South Africa (-5.2% per year) and Democratic Republic of the Congo (+7.7% per year).

Export Prices by Country

In 2022, the export price in SADC amounted to $X per cubic meter, waning by -60% against the previous year. Overall, the export price showed a deep reduction. The most prominent rate of growth was recorded in 2018 an increase of 22%. The level of export peaked at $X per cubic meter in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per cubic meter), while Zimbabwe ($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 South Africa (-2.8%), while the other leaders experienced a decline in the export price figures.

Veneer Sheets Imports

Imports in SADC

In 2022, purchases abroad of veneer sheets increased by 22% to X cubic meters, rising for the third consecutive year after seven years of decline. Over the period under review, imports, however, continue to indicate a abrupt downturn. The volume of import peaked at X cubic meters in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, veneer sheets imports surged to $X in 2022. In general, imports, however, recorded a pronounced decrease. The growth pace was the most rapid in 2021 with an increase of 19%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Africa prevails in imports structure, resulting at X cubic meters, which was approx. 62% of total imports in 2022. Comoros (X cubic meters) ranks second in terms of the total imports with an 8.9% share, followed by Namibia (7.3%). Seychelles (X cubic meters), Angola (X cubic meters), Democratic Republic of the Congo (X cubic meters), Malawi (X cubic meters), Mauritius (X cubic meters) and Madagascar (X cubic meters) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to veneer sheets imports into South Africa stood at -9.5%. At the same time, Mauritius (+22.0%), Malawi (+16.7%), Comoros (+13.9%), Democratic Republic of the Congo (+12.6%) and Namibia (+3.1%) displayed positive paces of growth. Moreover, Mauritius emerged as the fastest-growing importer imported in SADC, with a CAGR of +22.0% from 2012-2022. Madagascar experienced a relatively flat trend pattern. By contrast, Seychelles (-2.1%) and Angola (-15.3%) illustrated a downward trend over the same period. While the share of Comoros (+7.8 p.p.), Namibia (+4.8 p.p.), Democratic Republic of the Congo (+2.2 p.p.), Mauritius (+2 p.p.) and Malawi (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Angola (-4.1 p.p.) and South Africa (-14.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported veneer sheets in SADC, comprising 82% of total imports. The second position in the ranking was taken by Namibia ($X), with a 2.7% share of total imports. It was followed by Angola, with a 2.7% share.

In South Africa, veneer sheets imports declined by an average annual rate of -3.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Namibia (+3.5% per year) and Angola (-11.3% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per cubic meter, falling by -4.4% against the previous year. Import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, veneer sheets import price increased by +2.0% against 2020 indices. The pace of growth was the most pronounced in 2018 an increase of 48% against the previous year. As a result, import price reached the peak level of $X per cubic meter. From 2019 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Africa ($X per cubic meter), while Comoros ($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 South Africa (+6.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform