Particle Board Market

The article discusses the expected growth of the global particle board market from 2022 to 2030, with projections for both volume and value. It highlights key consumption trends, market performance indicators, and specific data on global market leaders in production, import, and export. The article also covers average prices and trends in the particle board market, providing a comprehensive overview of the industry.

Market Forecast

Driven by increasing demand for particle board worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.2% for the period from 2022 to 2030, which is projected to bring the market volume to 174M cubic meters by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.6% for the period from 2022 to 2030, which is projected to bring the market value to $67.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Particle Board

In 2022, approx. 147M cubic meters of particle board were consumed worldwide; stabilizing at 2021 figures. The total consumption volume increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked in 2022 and is expected to retain growth in years to come.

The global particle board market size was estimated at $55.1B in 2022, picking up by 11% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +32.4% against 2018 indices. Over the period under review, the global market reached the maximum level in 2022 and is likely to see gradual growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (44M cubic meters), the United States (25M cubic meters) and Russia (7M cubic meters), with a combined 51% share of global consumption. Germany, Poland, Turkey, the UK, Brazil, Italy, Canada, France, Ukraine and Spain lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +20.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($21B), the United States ($10.9B) and Germany ($2.6B) were the countries with the highest levels of market value in 2022, with a combined 62% share of the global market.

In terms of the main consuming countries, China, with a CAGR of +18.2%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of particle board per capita consumption in 2022 were Poland (141 cubic meters per 1000 persons), Germany (84 cubic meters per 1000 persons) and the United States (74 cubic meters per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +20.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Particle Board

In 2022, approx. 144M cubic meters of particle board were produced worldwide; leveling off at the previous year's figure. The total output volume increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 13%. Global production peaked in 2022 and is likely to continue growth in the near future.

In value terms, particle board production amounted to $57.1B in 2022 estimated in export price. Over the period under review, the total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +44.2% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by 27%. Over the period under review, global production reached the peak level in 2022 and is likely to continue growth in the immediate term.

Production By Country

China (43M cubic meters) remains the largest particle board producing country worldwide, comprising approx. 30% of total volume. Moreover, particle board production in China exceeded the figures recorded by the second-largest producer, the United States (18M cubic meters), twofold. Canada (8.9M cubic meters) ranked third in terms of total production with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +12.8%. The remaining producing countries recorded the following average annual rates of production growth: the United States (+3.0% per year) and Canada (+1.8% per year).

Imports

World Imports of Particle Board

In 2022, after two years of growth, there was decline in supplies from abroad of particle board, when their volume decreased by -2.1% to 43M cubic meters. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.0% 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 +29.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 22% against the previous year. As a result, imports reached the peak of 44M cubic meters, and then reduced slightly in the following year.

In value terms, particle board imports shrank to $12.9B in 2022. Overall, imports, however, posted resilient growth. The growth pace was the most rapid in 2021 when imports increased by 61% against the previous year. As a result, imports attained the peak of $14.1B, and then shrank in the following year.

Imports By Country

In 2022, the United States (7.4M cubic meters), distantly followed by France (4.1M cubic meters), Germany (2.8M cubic meters) and Spain (2M cubic meters) were the largest importers of particle board, together constituting 37% of total imports. The following importers - Poland (1.9M cubic meters), Belgium (1.9M cubic meters), the Netherlands (1.8M cubic meters), Italy (1.3M cubic meters), South Korea (1.3M cubic meters), China (1.2M cubic meters), Denmark (1M cubic meters), the UK (0.9M cubic meters) and the Czech Republic (0.9M cubic meters) - together made up 28% of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +19.1%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($3.6B) constitutes the largest market for imported particle board worldwide, comprising 28% of global imports. The second position in the ranking was held by Germany ($1.1B), with an 8.5% share of global imports. It was followed by Italy, with a 3.6% share.

In the United States, particle board imports expanded at an average annual rate of +13.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+2.6% per year) and Italy (+8.2% per year).

Imports By Type

In 2022, waferboards (38M cubic meters) was the key type of particle board, constituting 69% of total imports. It was distantly followed by oriented strandboard (OSB) (15M cubic meters), committing a 27% share of total imports. The following types - wooden particle board (1.1M cubic meters) and particle board and similar board of ligneous materials (excluding wood) (0.9M cubic meters) - each finished at a 3.7% share of total imports.

Waferboards was also the fastest-growing in terms of imports, with a CAGR of +9.3% from 2012 to 2022. At the same time, oriented strandboard (OSB) (+7.8%) displayed positive paces of growth. Wooden particle board experienced a relatively flat trend pattern. By contrast, particle board and similar board of ligneous materials (excluding wood) (-1.8%) illustrated a downward trend over the same period. Waferboards (+6.4 p.p.) significantly strengthened its position in terms of the global imports, while wooden particle board and particle board and similar board of ligneous materials (excluding wood) saw its share reduced by -2.6% and -2.7% from 2012 to 2022, respectively. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, the largest types of imported particle board were waferboards ($7B), oriented strandboard (OSB) ($5.2B) and wooden particle board ($426M), with a combined 98% share of global imports.

In terms of the main imported products, oriented strandboard (OSB), with a CAGR of +9.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other products experienced more modest paces of growth.

Import Prices By Type

The average particle board import price stood at $297 per cubic meter in 2022, declining by -6.6% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 32%. As a result, import price attained the peak level of $318 per cubic meter, and then fell in the following year.

Prices varied noticeably by the product type; the product with the highest price was wooden particle board ($382 per cubic meter), while the price for waferboards ($182 per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by wooden particle board (+2.0%), while the other products experienced mixed trends in the import price figures.

Import Prices By Country

In 2022, the average particle board import price amounted to $297 per cubic meter, falling by -6.6% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 32%. As a result, import price attained the peak level of $318 per cubic meter, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($488 per cubic meter), while Belgium ($84 per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Particle Board

After two years of growth, overseas shipments of particle board decreased by -3.2% to 41M cubic meters in 2022. In general, total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +25.5% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 22%. As a result, the exports reached the peak of 42M cubic meters, and then reduced in the following year.

In value terms, particle board exports shrank to $13.2B in 2022. Overall, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 63% against the previous year. As a result, the exports reached the peak of $14B, and then contracted in the following year.

Exports By Country

Canada (6.6M cubic meters) and France (4.9M cubic meters) were the major exporters of particle board in 2022, accounting for near 16% and 12% of total exports, respectively. Thailand (2.6M cubic meters) held a 6.3% share (based on physical terms) of total exports, which put it in second place, followed by Germany (6.1%), Belgium (5.5%) and Russia (5.4%). The following exporters - Austria (1.6M cubic meters), Spain (1.4M cubic meters), Romania (1.3M cubic meters), Poland (1.3M cubic meters), Turkey (1.2M cubic meters), the Czech Republic (1.1M cubic meters) and Belarus (1.1M cubic meters) - together made up 22% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Belarus (with a CAGR of +20.8%), while the other global leaders experienced more modest paces of growth.

In value terms, Canada ($3.4B) remains the largest particle board supplier worldwide, comprising 26% of global exports. The second position in the ranking was taken by Germany ($941M), with a 7.2% share of global exports. It was followed by Austria, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value in Canada totaled +11.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+2.1% per year) and Austria (+1.5% per year).

Exports By Type

Waferboards was the main exported product with an export of around 37M cubic meters, which accounted for 72% of total exports. It was distantly followed by oriented strandboard (OSB) (12M cubic meters), making up a 24% share of total exports. Particle board and similar board of ligneous materials (excluding wood) (1.4M cubic meters) followed a long way behind the leaders.

Waferboards was also the fastest-growing in terms of exports, with a CAGR of +8.0% from 2012 to 2022. At the same time, particle board and similar board of ligneous materials (excluding wood) (+5.6%) and oriented strandboard (OSB) (+5.5%) displayed positive paces of growth. Waferboards (+5.3 p.p.) significantly strengthened its position in terms of the global exports, while oriented strandboard (OSB) saw its share reduced by -4.1% from 2012 to 2022, respectively. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, the largest types of exported particle board were waferboards ($7B), oriented strandboard (OSB) ($5.2B) and wooden particle board ($407M), with a combined 97% share of global exports.

Oriented strandboard (OSB), with a CAGR of +9.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exported products over the period under review, while shipments for the other products experienced more modest paces of growth.

Export Prices By Type

The average particle board export price stood at $321 per cubic meter in 2022, shrinking by -2.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 34%. As a result, the export price attained the peak level of $330 per cubic meter, and then declined in the following year.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was wooden particle board ($526 per cubic meter), while the average price for exports of waferboards ($189 per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by oriented strandboard (OSB) (+4.0%), while the other products experienced mixed trends in the export price figures.

Export Prices By Country

The average particle board export price stood at $321 per cubic meter in 2022, shrinking by -2.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2021 when the average export price increased by 34% against the previous year. As a result, the export price reached the peak level of $330 per cubic meter, and then declined in the following year.

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 Austria ($520 per cubic meter), while France ($100 per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+6.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform