Report Update: May 1, 2024

Philippines - MDF - Market Analysis, Forecast, Size, Trends and Insights

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MDF Price in the Philippines - 2023

MDF Price in the Philippines (FOB) - 2023

In June 2023, the average MDF export price amounted to $2,189 per cubic meter, waning by -3.2% against the previous month. Over the period under review, the export price saw a mild setback. The pace of growth was the most pronounced in December 2022 when the average export price increased by 16% against the previous month. As a result, the export price attained the peak level of $3,077 per cubic meter; afterwards, it flattened through to June 2023.

As there is only one major export destination, the average price level is determined by prices for Japan.

From June 2022 to June 2023, the rate of growth in terms of prices for Japan amounted to -1.7% per month.

MDF Price in the Philippines (CIF) - 2023

The average MDF import price stood at $513 per cubic meter in June 2023, stabilizing at the previous month. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in April 2023 when the average import price increased by 22% m-o-m. The import price peaked at $590 per cubic meter in August 2022; however, from September 2022 to June 2023, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was New Zealand ($639 per cubic meter), while the price for Japan ($129 per cubic meter) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by China (+1.6%), while the prices for the other major suppliers experienced a decline.

MDF Exports in the Philippines

In 2022, approx. 19K cubic meters of MDF were exported from the Philippines; growing by 15% against the previous year. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 81% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, MDF exports amounted to $51M in 2022. Overall, exports, however, saw a slight decline. The pace of growth was the most pronounced in 2021 when exports increased by 47%. The exports peaked at $53M in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Export of MDF in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	31.3	20.0	0.1	50.9	17.6%
China	N/A	N/A	31.7	N/A	0%
United States	17.8	3.9	15.7	N/A	-6.1%
Others	4.3	8.6	N/A	N/A	100.0%
Total	53.4	32.4	47.5	51.0	-1.5%

Top Export Markets for MDF from the Philippines in 2022:

Japan (19.3K cubic meters)

MDF Imports in the Philippines

In 2022, the amount of MDF imported into the Philippines rose rapidly to 85K cubic meters, surging by 7.3% compared with the previous year. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 30% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, MDF imports contracted modestly to $40M in 2022. In general, imports, however, saw a slight decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 31%. Imports peaked at $42M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Import of MDF in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Malaysia	10.5	7.6	9.7	19.0	21.9%
New Zealand	13.8	9.2	10.4	9.3	-12.3%
Thailand	7.7	4.2	4.1	5.6	-10.1%
China	6.8	8.5	12.8	2.6	-27.4%
Indonesia	0.4	0.2	0.7	1.9	68.1%
Japan	N/A	N/A	N/A	0.5	0%
Others	3.1	1.8	3.5	1.2	-27.1%
Total	42.4	31.6	41.4	40.1	-1.8%

Top Suppliers of MDF to the Philippines in 2022:

Malaysia (30.6K cubic meters)
Thailand (21.7K cubic meters)
New Zealand (19.2K cubic meters)
Indonesia (4.6K cubic meters)
China (4.5K cubic meters)
Japan (3.0K cubic meters)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the mdf market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 1648 - MDF/HDF

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023