Vietnam: Veneer Sheet Market 2025

Veneer Sheet Market Size in Vietnam

In 2022, the Vietnamese veneer sheet market was finally on the rise to reach $X after two years of decline. In general, consumption, however, continues to indicate a pronounced descent. Veneer sheet consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Veneer Sheet Production in Vietnam

In value terms, veneer sheet production dropped significantly to $X in 2022 estimated in export price. Overall, production showed a significant decrease. The most prominent rate of growth was recorded in 2013 when the production volume increased by 18%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Veneer Sheet Exports

Exports from Vietnam

In 2022, shipments abroad of veneer sheets and sheets for plywood and other wood sawn lengthwise decreased by -30.7% to X square meters for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by 154% against the previous year. As a result, the exports reached the peak of X square meters, and then contracted rapidly in the following year.

In value terms, veneer sheet exports declined remarkably to $X in 2022. Over the period under review, exports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 155% against the previous year. As a result, the exports attained the peak of $X, and then fell significantly in the following year.

Exports by Country

China (X square meters) was the main destination for veneer sheet exports from Vietnam, with a 75% share of total exports. Moreover, veneer sheet exports to China exceeded the volume sent to the second major destination, Cambodia (X square meters), more than tenfold. Taiwan (Chinese) (X square meters) ranked third in terms of total exports with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to +27.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+22.7% per year) and Taiwan (Chinese) (+6.6% per year).

In value terms, China ($X) remains the key foreign market for veneer sheets and sheets for plywood and other wood sawn lengthwise exports from Vietnam, comprising 79% of total exports. The second position in the ranking was held by Cambodia ($X), with a 6.6% share of total exports. It was followed by Taiwan (Chinese), with a 3.5% share.

From 2012 to 2022, the average annual growth rate of value to China totaled +29.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+32.9% per year) and Taiwan (Chinese) (+5.5% per year).

Export Prices by Country

The average veneer sheet export price stood at $X per square meter in 2022, approximately mirroring the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2020 an increase of 23%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per square meter), while the average price for exports to Indonesia ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Veneer Sheet Imports

Imports into Vietnam

In 2022, overseas purchases of veneer sheets and sheets for plywood and other wood sawn lengthwise decreased by -9% to X square meters for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2014 when imports increased by 91%. Imports peaked at X square meters in 2021, and then shrank in the following year.

In value terms, veneer sheet imports reduced to $X in 2022. In general, imports, however, showed a significant increase. The pace of growth was the most pronounced in 2016 with an increase of 66%. Over the period under review, imports reached the maximum at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, China (X square meters) constituted the largest supplier of veneer sheet to Vietnam, with a 89% share of total imports. It was followed by Latvia (X square meters), with a 2.4% share of total imports. Russia (X square meters) ranked third in terms of total imports with a 1.7% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+71.7% per year) and Russia (+61.3% per year).

In value terms, China ($X) constituted the largest supplier of veneer sheets and sheets for plywood and other wood sawn lengthwise to Vietnam, comprising 89% of total imports. The second position in the ranking was held by Latvia ($X), with a 3% share of total imports. It was followed by Russia, with a 2% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +26.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+88.3% per year) and Russia (+68.7% per year).

Import Prices by Country

In 2022, the average veneer sheet import price amounted to $X per square meter, picking up by 3.3% against the previous year. Overall, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.0% 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 decreased by -12.5% against 2019 indices. The growth pace was the most rapid in 2016 an increase of 74%. The import price peaked at $X per square meter in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per square meter), while the price for China ($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 Latvia (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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