Asia: Mdf Market 2024

Mdf Market Size in Asia

In 2021, the Asian MDF market increased by 0.1% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Mdf Production in Asia

In value terms, MDF production rose modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 13%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Mdf Exports

Exports in Asia

In 2021, overseas shipments of MDF increased by 38% to X cubic meters, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, MDF exports surged to $X in 2021. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the major exporting country with an export of about X cubic meters, which reached 49% of total exports. Thailand (X cubic meters) ranks second in terms of the total exports with a 27% share, followed by Turkey (16%). Indonesia (X cubic meters) and Malaysia (X cubic meters) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +18.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest MDF supplier in Asia, comprising 54% of total exports. The second position in the ranking was held by Turkey ($X), with a 20% share of total exports. It was followed by Thailand, with an 18% share.

From 2012 to 2021, the average annual growth rate of value in China stood at -2.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+14.6% per year) and Thailand (+11.7% per year).

Export Prices by Country

The export price in Asia stood at $X per cubic meter in 2021, with an increase of 10% against the previous year. In general, the export price, however, saw a mild curtailment. Over the period under review, the export prices attained the maximum at $X per cubic meter in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per cubic meter), while Thailand ($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 Malaysia (+0.2%), while the other leaders experienced a decline in the export price figures.

Mdf Imports

Imports in Asia

In 2021, supplies from abroad of MDF increased by 9.9% to X cubic meters, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The volume of import peaked at X cubic meters in 2017; afterwards, it flattened through to 2021.

In value terms, MDF imports soared to $X in 2021. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X cubic meters), distantly followed by Saudi Arabia (X cubic meters), Vietnam (X cubic meters), Japan (X cubic meters) and Iran (X cubic meters) were the key importers of MDF, together making up 56% of total imports. The following importers - Iraq (X cubic meters), China (X cubic meters), Kazakhstan (X cubic meters), Uzbekistan (X cubic meters), South Korea (X cubic meters), Israel (X cubic meters), Indonesia (X cubic meters) and Taiwan (Chinese) (X cubic meters) - together made up 24% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of +26.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest MDF importing markets in Asia were the United Arab Emirates ($X), Saudi Arabia ($X) and Japan ($X), with a combined 34% share of total imports. China, Vietnam, Uzbekistan, Israel, Kazakhstan, Iraq, Iran, South Korea, Indonesia and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 44%.

Among the main importing countries, South Korea, with a CAGR of +20.4%, recorded the highest growth rate of 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 2021, the import price in Asia amounted to $X per cubic meter, rising by 13% against the previous year. Over the period under review, the import price, however, continues to indicate a mild reduction. The level of import peaked at $X per cubic meter in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per cubic meter), while the United Arab Emirates ($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 (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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