U.S.: Market for Softwood Veneer and Plywood 2024

Market Size for Softwood Veneer and Plywood in the U.S.

After three years of growth, the U.S. softwood veneer and plywood market decreased by X% to $X in 2023. Overall, consumption, however, recorded a significant increase. Softwood veneer and plywood consumption peaked at $X in 2022, and then dropped sharply in the following year.

Production of Softwood Veneer and Plywood in the U.S.

In value terms, softwood veneer and plywood production stood at $X in 2023. Over the period under review, production, however, continues to indicate a slight shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of X%. Softwood veneer and plywood production peaked at $X in 2013; however, from 2014 to 2023, production stood at a somewhat lower figure.

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Exports of Softwood Veneer and Plywood

Exports from the U.S.

After three years of growth, shipments abroad of softwood veneer and plywood decreased by X% to X cubic meters in 2023. In general, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by X%. Over the period under review, the exports attained the peak figure at X cubic meters in 2022, and then dropped sharply in the following year.

In value terms, softwood veneer and plywood exports shrank markedly to $X in 2023. Overall, exports recorded a pronounced decline. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

Exports by Country

Canada (X cubic meters) was the main destination for softwood veneer and plywood exports from the United States, accounting for a X% share of total exports. Moreover, softwood veneer and plywood exports to Canada exceeded the volume sent to the second major destination, Mexico (X cubic meters), threefold. The third position in this ranking was taken by Germany (X cubic meters), with a X% share.

From 2013 to 2023, the average annual rate of growth in terms of volume to Canada amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Germany (X% per year).

In value terms, the largest markets for softwood veneer and plywood exported from the United States were Canada ($X), Mexico ($X) and Germany ($X), with a combined X% share of total exports.

Mexico, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2023, the average softwood veneer and plywood export price amounted to $X per cubic meter, waning by X% against the previous year. In general, the export price showed a precipitous setback. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per cubic meter in 2018; however, from 2019 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per cubic meter), while the average price for exports to Vietnam ($X per cubic meter) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (X%), while the prices for the other major destinations experienced a decline.

Imports of Softwood Veneer and Plywood

Imports into the U.S.

In 2023, overseas purchases of softwood veneer and plywood decreased by X% to X cubic meters for the first time since 2019, thus ending a three-year rising trend. Over the period under review, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Imports peaked at X cubic meters in 2022, and then reduced rapidly in the following year.

In value terms, softwood veneer and plywood imports contracted markedly to $X in 2023. Overall, imports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, Canada (X cubic meters) was the main supplier of softwood veneer and plywood to the United States, accounting for a X% share of total imports. It was followed by India (X cubic meters), with a X% share of total imports.

From 2013 to 2023, the average annual rate of growth in terms of volume from Canada amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and New Zealand (X% per year).

In value terms, Canada ($X) constituted the largest supplier of softwood veneer and plywood to the United States, comprising X% of total imports. The second position in the ranking was taken by New Zealand ($X), with a X% share of total imports.

From 2013 to 2023, the average annual rate of growth in terms of value from Canada stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and India (X% per year).

Import Prices by Country

The average softwood veneer and plywood import price stood at $X per cubic meter in 2023, with an increase of X% against the previous year. In general, the import price, however, saw a sharp descent. The import price peaked at $X per cubic meter in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Canada ($X per cubic meter), while the price for India ($X per cubic meter) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform