Southern Asia: Veneer Sheet Market 2024

Veneer Sheet Market Size in Southern Asia

For the third year in a row, the South Asian veneer sheet market recorded growth in sales value, which increased by 3.1% to $X in 2022. Over the period under review, consumption, however, posted a resilient expansion. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Veneer Sheet Production in Southern Asia

In value terms, veneer sheet production shrank to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a deep setback. The pace of growth was the most pronounced in 2021 with an increase of 6.2% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Veneer Sheet Exports

Exports in Southern Asia

In 2022, overseas shipments of veneer sheets and sheets for plywood and other wood sawn lengthwise increased by 12% to X square meters, rising for the sixth consecutive year after two years of decline. Over the period under review, exports showed significant growth. The pace of growth was the most pronounced in 2018 with an increase of 187%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, veneer sheet exports soared to $X in 2022. Overall, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 80% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

The biggest shipments were from India (X square meters), together finishing at 100% of total export.

India was also the fastest-growing in terms of the veneer sheets and sheets for plywood and other wood sawn lengthwise exports, with a CAGR of +22.4% from 2012 to 2022. From 2012 to 2022, the share of India increased by +2.4 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest veneer sheet supplier in Southern Asia.

From 2012 to 2022, the average annual growth rate of value in India stood at +9.6%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per square meter, with an increase of 4.8% against the previous year. In general, the export price, however, showed a deep reduction. The most prominent rate of growth was recorded in 2015 an increase of 44%. The level of export peaked at $X per square meter in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -10.5% per year.

Veneer Sheet Imports

Imports in Southern Asia

In 2022, the amount of veneer sheets and sheets for plywood and other wood sawn lengthwise imported in Southern Asia reduced rapidly to X square meters, with a decrease of -15.1% compared with the previous year. In general, imports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2015 when imports increased by 66% against the previous year. The volume of import peaked at X square meters in 2021, and then dropped markedly in the following year.

In value terms, veneer sheet imports dropped to $X in 2022. Over the period under review, imports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2015 with an increase of 81% against the previous year. The level of import peaked at $X in 2021, and then dropped in the following year.

Imports by Country

India dominates imports structure, amounting to X square meters, which was near 93% of total imports in 2022. Nepal (X square meters) and Pakistan (X square meters) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +12.3% from 2012 to 2022. At the same time, Nepal (+29.5%) and Pakistan (+14.5%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +29.5% from 2012-2022. From 2012 to 2022, the share of Nepal increased by +2.6 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported veneer sheets and sheets for plywood and other wood sawn lengthwise in Southern Asia, comprising 89% of total imports. The second position in the ranking was taken by Nepal ($X), with a 5.8% share of total imports.

In India, veneer sheet imports increased at an average annual rate of +17.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Nepal (+33.2% per year) and Pakistan (+3.9% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per square meter in 2022, with an increase of 7.6% against the previous year. Import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, veneer sheet import price increased by +5.4% against 2019 indices. The most prominent rate of growth was recorded in 2018 an increase of 14%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nepal ($X per square meter), while India ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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