India: Wood-Based Panels Market 2024

Wood-Based Panels Market Size in India

The Indian wood-based panels market dropped modestly to $X in 2022, shrinking by X% against the previous year. In general, 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 2020 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Wood-Based Panels Production in India

In value terms, wood-based panels production reduced 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; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Wood-Based Panels Exports

Exports from India

For the fifth year in a row, India recorded growth in overseas shipments of wood-based panels, which increased by X% to X cubic meters in 2022. Over the period under review, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, wood-based panels exports surged to $X in 2022. Overall, exports enjoyed a strong expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United Arab Emirates (X cubic meters) was the main destination for wood-based panels exports from India, with a X% share of total exports. Moreover, wood-based panels exports to the United Arab Emirates exceeded the volume sent to the second major destination, Nepal (X cubic meters), twofold. The third position in this ranking was taken by Saudi Arabia (X cubic meters), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (X% per year) and Saudi Arabia (X% per year).

In value terms, the largest markets for wood-based panels exported from India were the United Arab Emirates ($X), Nepal ($X) and the United States ($X), together comprising X% of total exports. Saudi Arabia, Bhutan, Bangladesh, Oman, Egypt, Sri Lanka, Thailand, Iraq, Bahrain and Malaysia lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

The average wood-based panels export price stood at $X per cubic meter in 2022, reducing by X% against the previous year. Over the period under review, the export price showed a noticeable curtailment. The most prominent rate of growth was recorded in 2019 an increase of X%. As a result, the export price attained the peak level of $X per cubic meter. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per cubic meter), while the average price for exports to Malaysia ($X per cubic meter) was amongst the lowest.

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

Wood-Based Panels Imports

Imports into India

In 2022, imports of wood-based panels into India amounted to X cubic meters, remaining relatively unchanged against the year before. Over the period under review, total imports indicated a noticeable expansion 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. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports attained the peak figure at X cubic meters in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, wood-based panels imports rose slightly to $X in 2022. Overall, total imports indicated a buoyant 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Gabon (X cubic meters), Indonesia (X cubic meters) and China (X cubic meters) were the main suppliers of wood-based panels imports to India, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Gabon (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wood-based panels suppliers to India were Indonesia ($X), Gabon ($X) and China ($X), together comprising X% of total imports.

Among the main suppliers, Gabon, with a CAGR of X%, 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

The average wood-based panels import price stood at $X per cubic meter in 2022, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import 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 supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per cubic meter), while the price for Thailand ($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 Gabon (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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