ASEAN: Wood-Based Panels Market 2023

Wood-Based Panels Market Size in ASEAN

The ASEAN wood-based panels market rose modestly to $X in 2022, increasing by X% against the previous year. The total consumption indicated a pronounced expansion 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 2014 indices. Over the period under review, the market attained the maximum level in 2022 and is likely to see steady growth in years to come.

Wood-Based Panels Production in ASEAN

In value terms, wood-based panels production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Wood-Based Panels Exports

Exports in ASEAN

In 2022, shipments abroad of wood-based panels decreased by X% 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 X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X cubic meters, and then declined markedly in the following year.

In value terms, wood-based panels exports declined to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

Thailand represented the major exporting country with an export of about X cubic meters, which accounted for X% of total exports. Indonesia (X cubic meters) took the second position in the ranking, followed by Malaysia (X cubic meters) and Vietnam (X cubic meters). All these countries together held approx. X% share of total exports. Myanmar (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to wood-based panels exports from Thailand stood at X%. At the same time, Myanmar (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Indonesia (X%) and Malaysia (X%) illustrated a downward trend over the same period. While the share of Thailand (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Indonesia (X p.p.) and Malaysia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wood-based panels supplying countries in ASEAN were Indonesia ($X), Thailand ($X) and Vietnam ($X), with a combined X% share of total exports.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per cubic meter in 2022, surging by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the 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 amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per cubic meter), while Thailand ($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 Vietnam (X%), while the other leaders experienced more modest paces of growth.

Wood-Based Panels Imports

Imports in ASEAN

After two years of growth, overseas purchases of wood-based panels decreased by X% to X cubic meters in 2022. Total imports indicated a temperate increase 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 2017 when imports increased by X% against the previous year. The volume of import peaked at X cubic meters in 2021, and then dropped in the following year.

In value terms, wood-based panels imports fell to $X in 2022. Total imports indicated prominent growth 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, imports increased by X% against 2012 indices. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports hit record highs at $X in 2021, and then contracted in the following year.

Imports by Country

Malaysia represented the key importing country with an import of about X cubic meters, which resulted at X% of total imports. Vietnam (X cubic meters) ranks second in terms of the total imports with a X% share, followed by the Philippines (X%), Indonesia (X%), Thailand (X%), Singapore (X%) and Cambodia (X%).

From 2012 to 2022, average annual rates of growth with regard to wood-based panels imports into Malaysia stood at X%. At the same time, Cambodia (X%), the Philippines (X%), Thailand (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. Singapore experienced a relatively flat trend pattern. By contrast, Indonesia (X%) illustrated a downward trend over the same period. While the share of Malaysia (X p.p.), the Philippines (X p.p.) and Cambodia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Thailand (X p.p.), Singapore (X p.p.), Vietnam (X p.p.) and Indonesia (X p.p.) displayed negative dynamics.

In value terms, the largest wood-based panels importing markets in ASEAN were Vietnam ($X), Malaysia ($X) and the Philippines ($X), together accounting for X% of total imports. Thailand, Indonesia, Cambodia and Singapore lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

The import price in ASEAN stood at $X per cubic meter in 2022, surging 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 2018 an increase of X%. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

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

Source: IndexBox Platform

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