Serbia: Wood-Based Panels Market 2024

Wood-Based Panels Market Size in Serbia

In 2022, the Serbian wood-based panels market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. In general, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2015 indices. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Wood-Based Panels Production in Serbia

In value terms, wood-based panels production dropped to $X in 2022 estimated in export price. In general, production showed a perceptible decline. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Wood-Based Panels Exports

Exports from Serbia

For the third year in a row, Serbia recorded decline in shipments abroad of wood-based panels, which decreased by X% to X cubic meters in 2022. Overall, exports saw a perceptible shrinkage. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of X cubic meters. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, wood-based panels exports surged to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Exports by Country

Montenegro (X cubic meters), Italy (X cubic meters) and Bosnia and Herzegovina (X cubic meters) were the main destinations of wood-based panels exports from Serbia, with a combined X% share of total exports. North Macedonia, Belgium, Bulgaria, Albania, Germany, Romania, Croatia, the Netherlands, Slovenia and Greece lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Montenegro ($X), Italy ($X) and Bosnia and Herzegovina ($X) constituted the largest markets for wood-based panels exported from Serbia worldwide, together comprising X% of total exports. North Macedonia, Bulgaria, Romania, Germany, Belgium, Albania, Croatia, Slovenia, Greece and the Netherlands lagged somewhat behind, together accounting for a further X%.

The Netherlands, with a CAGR of X%, saw the highest growth rate of 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 wood-based panels export price amounted to $X per cubic meter, jumping by X% against the previous year. In general, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood-based panels export price increased by X% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Greece ($X per cubic meter), while the average price for exports to Belgium ($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 Greece (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wood-Based Panels Imports

Imports into Serbia

In 2022, supplies from abroad of wood-based panels decreased by X% to X cubic meters for the first time since 2018, thus ending a three-year rising trend. Overall, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when imports increased by X%. Imports peaked at X cubic meters in 2021, and then dropped in the following year.

In value terms, wood-based panels imports expanded to $X in 2022. Over the period under review, imports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Romania (X cubic meters) constituted the largest wood-based panels supplier to Serbia, accounting for a X% share of total imports. Moreover, wood-based panels imports from Romania exceeded the figures recorded by the second-largest supplier, Hungary (X cubic meters), threefold. Bulgaria (X cubic meters) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Romania amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and Bulgaria (X% per year).

In value terms, Romania ($X) constituted the largest supplier of wood-based panels to Serbia, comprising X% of total imports. The second position in the ranking was taken by Hungary ($X), with a X% share of total imports. It was followed by Russia, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Romania amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and Russia (X% per year).

Import Prices by Country

In 2022, the average wood-based panels import price amounted to $X per cubic meter, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X%. The import price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ukraine ($X per cubic meter), while the price for Croatia ($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 Ukraine (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform