South-Eastern Asia: Particle Board Market 2024

Particle Board Market Size in South-Eastern Asia

The Southeast Asian particle board market reduced to $X in 2022, waning by -5.3% against the previous year. The total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -11.5% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Particle Board Production in South-Eastern Asia

In value terms, particle board production fell to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 31% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Particle Board Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of particle board decreased by -21% to X cubic meters for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 30% against the previous year. The volume of export peaked at X cubic meters in 2021, and then shrank rapidly in the following year.

In value terms, particle board exports declined remarkably to $X in 2022. The total export value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 36% against the previous year. As a result, the exports reached the peak of $X, and then fell markedly in the following year.

Exports by Country

Thailand represented the largest exporting country with an export of around X cubic meters, which amounted to 85% of total exports. It was distantly followed by Malaysia (X cubic meters), constituting an 11% share of total exports. Indonesia (X cubic meters) took a relatively small share of total exports.

Exports from Thailand increased at an average annual rate of +3.5% from 2012 to 2022. At the same time, Indonesia (+14.2%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +14.2% from 2012-2022. By contrast, Malaysia (-3.2%) illustrated a downward trend over the same period. While the share of Thailand (+7.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (-9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest particle board supplier in South-Eastern Asia, comprising 81% of total exports. The second position in the ranking was held by Malaysia ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Thailand stood at +3.3%. In the other countries, the average annual rates were as follows: Malaysia (-3.9% per year) and Indonesia (+8.0% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per cubic meter, surging by 4.3% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the export price increased by 25% against the previous year. As a result, the export price reached the peak level of $X per cubic meter. From 2020 to 2022, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per cubic meter), while Thailand ($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 Thailand (-0.2%), while the other leaders experienced a decline in the export price figures.

Particle Board Imports

Imports in South-Eastern Asia

After three years of growth, overseas purchases of particle board decreased by -25.6% to X cubic meters in 2022. The total import volume increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 20%. Over the period under review, imports reached the peak figure at X cubic meters in 2021, and then shrank dramatically in the following year.

In value terms, particle board imports dropped to $X in 2022. The total import value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 33% against the previous year. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, Malaysia (X cubic meters), distantly followed by Vietnam (X cubic meters), Indonesia (X cubic meters) and the Philippines (X cubic meters) were the major importers of particle board, together comprising 93% of total imports. The following importers - Myanmar (X cubic meters) and Cambodia (X cubic meters) - each reached a 4.4% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +20.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest particle board importing markets in South-Eastern Asia were Malaysia ($X), Vietnam ($X) and Indonesia ($X), with a combined 76% share of total imports. The Philippines, Cambodia and Myanmar lagged somewhat behind, together accounting for a further 20%.

Among the main importing countries, Cambodia, with a CAGR of +18.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per cubic meter, surging by 24% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Philippines ($X per cubic meter), while Vietnam ($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 the Philippines (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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