Asia: Plywood Market 2023

Plywood Market Size in Asia

In 2021, the Asian plywood market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, saw a mild downturn. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Plywood Production in Asia

In value terms, plywood production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 78% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Plywood Exports

Exports in Asia

In 2021, after three years of decline, there was significant growth in overseas shipments of plywood, when their volume increased by 117% to X cubic meters. Total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, plywood exports skyrocketed to $X in 2021. Total exports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X cubic meters) and the United Arab Emirates (X cubic meters) represented roughly 80% of total exports in 2021. It was distantly followed by Saudi Arabia (X cubic meters), creating a 16% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +23.8%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Turkey ($X) remains the largest plywood supplier in Asia, comprising 55% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Turkey stood at +20.9%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-3.3% per year) and Saudi Arabia (+3.3% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per cubic meter, rising by 11% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the export price increased by 17% against the previous year. The level of export peaked at $X per cubic meter in 2012; however, from 2013 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 ($X per cubic meter), while Saudi Arabia ($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 the United Arab Emirates (-0.9%), while the other leaders experienced a decline in the export price figures.

Plywood Imports

Imports in Asia

In 2021, overseas purchases of plywood increased by 4.7% to X cubic meters for the first time since 2014, thus ending a six-year declining trend. Overall, imports, however, showed a pronounced decrease. The most prominent rate of growth was recorded in 2014 when imports increased by 23%. As a result, imports attained the peak of X cubic meters. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, plywood imports soared to $X in 2021. Over the period under review, imports, however, recorded a perceptible decrease. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X cubic meters) and Saudi Arabia (X cubic meters) were the main importers of plywood in 2021, resulting at near 23% and 20% of total imports, respectively. Israel (X cubic meters) ranks next in terms of the total imports with a 13% share, followed by Iraq (9.9%), Kuwait (6.9%), Turkey (5.8%) and Qatar (5.6%).

From 2012 to 2021, the biggest increases were recorded for Iraq (with a CAGR of +29.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), Saudi Arabia ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 52% share of total imports. Iraq, Turkey, Kuwait and Qatar lagged somewhat behind, together accounting for a further 30%.

Iraq, with a CAGR of +22.8%, saw the highest growth rate of 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 Asia stood at $X per cubic meter in 2021, jumping by 16% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per cubic meter in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 Turkey ($X per cubic meter), while the United Arab Emirates ($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 Israel (+1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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