Thailand: Mdf Market 2024

Mdf Market Size in Thailand

In 2021, the Thai MDF market decreased by -2.8% to $X, falling for the second year in a row after two years of growth. Overall, consumption recorded a noticeable slump. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Mdf Production in Thailand

In value terms, MDF production soared to $X in 2021 estimated in export price. In general, the total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -15.7% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 39% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Mdf Exports

Exports from Thailand

In 2021, mdf exports from Thailand skyrocketed to X cubic meters, growing by 16% against 2020 figures. In general, exports posted a strong expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 57% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, MDF exports surged to $X in 2021. Over the period under review, exports saw a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia (X cubic meters) was the main destination for MDF exports from Thailand, with a 28% share of total exports. Moreover, MDF exports to Saudi Arabia exceeded the volume sent to the second major destination, Vietnam (X cubic meters), twofold. The third position in this ranking was held by the United Arab Emirates (X cubic meters), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Saudi Arabia amounted to +21.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+12.9% per year) and the United Arab Emirates (+13.8% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for MDF exports from Thailand, comprising 27% of total exports. The second position in the ranking was held by Vietnam ($X), with a 13% share of total exports. It was followed by the United Arab Emirates, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Saudi Arabia stood at +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+10.8% per year) and the United Arab Emirates (+11.3% per year).

Export Prices by Country

The average MDF export price stood at $X per cubic meter in 2021, surging by 22% against the previous year. In general, the export price, however, saw a mild setback. The most prominent rate of growth was recorded in 2019 an increase of 37%. As a result, the export price attained the peak level of $X per cubic meter. From 2020 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cambodia ($X per cubic meter), while the average price for exports to Iran ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (+3.0%), while the prices for the other major destinations experienced a decline.

Mdf Imports

Imports into Thailand

In 2021, purchases abroad of MDF decreased by -0.8% to X cubic meters for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports, however, recorded a measured increase. The pace of growth appeared the most rapid in 2013 with an increase of 71% against the previous year. Imports peaked at X cubic meters in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, MDF imports expanded notably to $X in 2021. In general, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +69.0% against 2018 indices. The pace of growth was the most pronounced in 2013 when imports increased by 58% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X cubic meters) constituted the largest supplier of MDF to Thailand, accounting for a 84% share of total imports. Moreover, MDF imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X cubic meters), sevenfold. New Zealand (X cubic meters) ranked third in terms of total imports with a 0.5% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates totaled +353.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-15.3% per year) and New Zealand (-30.9% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of MDF to Thailand, comprising 74% of total imports. The second position in the ranking was held by China ($X), with an 18% share of total imports. It was followed by New Zealand, with a 0.6% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates stood at +371.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-8.7% per year) and New Zealand (-27.7% per year).

Import Prices by Country

The average MDF import price stood at $X per cubic meter in 2021, growing by 7.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2014 an increase of 14%. The import price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per cubic meter), while the price for the United Arab Emirates ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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