Wooden Particle Board Market

The global wooden particle board market is projected to show a positive trend in both consumption and production, with an expected increase in volume and value terms by the year 2030. Despite a declining trend in recent years, consumption and production are set to rise, with China leading the market in both consumption and production. The article also highlights trends in imports and exports, with Ecuador dominating global exports and significant growth in export prices over the last decade.

Market Forecast

Driven by rising demand for wooden particle board worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.0% for the period from 2022 to 2030, which is projected to bring the market volume to 30M cubic meters by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.0% for the period from 2022 to 2030, which is projected to bring the market value to $25.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Wooden Particle Board

In 2022, consumption of wooden particle board was finally on the rise to reach 30M cubic meters for the first time since 2012, thus ending a nine-year declining trend. In general, consumption, however, recorded a pronounced contraction. Over the period under review, global consumption hit record highs at 48M cubic meters in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

The global wooden particle board market size shrank to $21.9B in 2022, with a decrease of -2.5% 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, consumption, however, saw a slight slump. Global consumption peaked at $25.7B in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (11M cubic meters), the United States (7.5M cubic meters) and Germany (1.8M cubic meters), together accounting for 68% of global consumption.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of -2.3%), while consumption for the other global leaders experienced a decline in the consumption figures.

In value terms, China ($11.2B) led the market, alone. The second position in the ranking was taken by the United States ($4.3B). It was followed by Germany.

In China, the wooden particle board market expanded at an average annual rate of +2.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (-3.0% per year) and Germany (-2.4% per year).

The countries with the highest levels of wooden particle board per capita consumption in 2022 were the United States (22 cubic meters per 1000 persons), Germany (22 cubic meters per 1000 persons) and Australia (20 cubic meters per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of -3.1%), while consumption for the other global leaders experienced a decline in the per capita consumption figures.

Production

World Production of Wooden Particle Board

In 2022, production of wooden particle board was finally on the rise to reach 30M cubic meters after nine years of decline. Overall, production, however, showed a pronounced descent. Global production peaked at 47M cubic meters in 2012; however, from 2013 to 2022, production failed to regain momentum.

In value terms, wooden particle board production fell to $24.4B in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 17% against the previous year. Over the period under review, global production hit record highs at $25.5B in 2021, and then reduced in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (11M cubic meters), the United States (7.5M cubic meters) and Germany (1.8M cubic meters), with a combined 69% share of global production. Indonesia, France, Canada, the UK, Thailand, Spain, Saudi Arabia, Australia and Ecuador lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of +3.1%), while production for the other global leaders experienced a decline in the production figures.

Imports

World Imports of Wooden Particle Board

In 2022, global imports of wooden particle board reduced to 1.1M cubic meters, waning by -12.4% against the previous year's figure. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 13% against the previous year. As a result, imports reached the peak of 1.4M cubic meters. From 2019 to 2022, the growth of global imports failed to regain momentum.

In value terms, wooden particle board imports totaled $426M in 2022. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 42% against the previous year. Global imports peaked in 2022 and are likely to continue growth in the near future.

Imports By Country

Colombia (241K cubic meters) and Peru (220K cubic meters) represented roughly 41% of total imports in 2022. China (144K cubic meters) ranks next in terms of the total imports with a 13% share, followed by France (11%) and Denmark (8.3%). Palestine (35K cubic meters), the Netherlands (29K cubic meters), Canada (21K cubic meters) and Greece (19K cubic meters) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Palestine (with a CAGR of +62.9%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Colombia ($136M), Peru ($80M) and China ($66M) were the countries with the highest levels of imports in 2022, with a combined 66% share of global imports. Palestine, France, Canada, Greece, Denmark and the Netherlands lagged somewhat behind, together accounting for a further 9.9%.

Palestine, with a CAGR of +65.3%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average wooden particle board import price stood at $382 per cubic meter in 2022, jumping by 16% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2021 an increase of 28%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

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 Colombia ($564 per cubic meter), while Denmark ($26 per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Wooden Particle Board

After two years of growth, shipments abroad of wooden particle board decreased by -2.1% to 773K cubic meters in 2022. In general, total exports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.0% 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 +51.6% against 2019 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 54% against the previous year. As a result, the exports attained the peak of 789K cubic meters, and then declined modestly in the following year.

In value terms, wooden particle board exports rose significantly to $407M in 2022. Overall, exports, however, saw a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of 68% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.

Exports By Country

Ecuador dominates exports structure, reaching 504K cubic meters, which was near 65% of total exports in 2022. China (68K cubic meters) held the second position in the ranking, followed by Thailand (53K cubic meters) and Spain (43K cubic meters). All these countries together took approx. 21% share of total exports. The United States (14K cubic meters) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to wooden particle board exports from Ecuador stood at +11.6%. At the same time, Thailand (+29.5%) and Spain (+26.9%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +29.5% from 2012-2022. By contrast, China (-4.8%) and the United States (-12.2%) illustrated a downward trend over the same period. Ecuador (+36 p.p.), Thailand (+6.2 p.p.) and Spain (+4.8 p.p.) significantly strengthened its position in terms of the global exports, while the United States and China saw its share reduced by -7.2% and -10.6% from 2012 to 2022, respectively.

In value terms, Ecuador ($231M) remains the largest wooden particle board supplier worldwide, comprising 57% of global exports. The second position in the ranking was held by China ($111M), with a 27% share of global exports. It was followed by Thailand, with a 3.6% share.

In Ecuador, wooden particle board exports increased at an average annual rate of +14.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+12.5% per year) and Thailand (+26.8% per year).

Export Prices By Country

In 2022, the average wooden particle board export price amounted to $526 per cubic meter, increasing by 7.7% against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 23% against the previous year. The global export price peaked in 2022 and is likely to see gradual growth in the immediate term.

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 China ($1,638 per cubic meter), while Spain ($53 per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+18.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform