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World - Wood-Based Panels - Market Analysis, Forecast, Size, Trends and Insights
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The global wood-based panels market is forecasted to maintain its growth trajectory, with consumption expected to increase at a CAGR of +2.8% from 2022 to 2030, reaching a volume of 552M cubic meters by the end of the period. China is the largest consumer and producer of wood-based panels, with the United States leading in imports. The market value is projected to reach $300.4B by 2030. Particle board, plywood, and fibreboard are the most consumed and exported products, with particle board showing the highest growth rates. Import and export prices have shown steady growth over the years, with noticeable fluctuations in certain periods.
Market Forecast
Driven by increasing demand for wood-based panels worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.8% for the period from 2022 to 2030, which is projected to bring the market volume to 552M cubic meters by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +1.1% for the period from 2022 to 2030, which is projected to bring the market value to $300.4B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Wood-Based Panels
In 2022, global wood-based panels consumption stood at 442M cubic meters, stabilizing at the previous year. The total consumption volume increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Global consumption peaked in 2022 and is expected to retain growth in the immediate term.
The global wood-based panels market value was estimated at $276.2B in 2022, surging by 1.7% 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). Over the period under review, consumption recorded a relatively flat trend pattern. Global consumption peaked at $294.3B in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.
Consumption By Country
China (166M cubic meters) remains the largest wood-based panels consuming country worldwide, comprising approx. 38% of total volume. Moreover, wood-based panels consumption in China exceeded the figures recorded by the second-largest consumer, the United States (51M cubic meters), threefold. India (18M cubic meters) ranked third in terms of total consumption with a 4% share.
In China, wood-based panels consumption 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 (+3.2% per year) and India (+5.6% per year).
In value terms, China ($75.1B) led the market, alone. The second position in the ranking was held by the United States ($20.6B). It was followed by India.
In China, the wood-based panels market increased at an average annual rate of +1.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+1.7% per year) and India (+4.6% per year).
The countries with the highest levels of wood-based panels per capita consumption in 2022 were Poland (294 cubic meters per 1000 persons), France (216 cubic meters per 1000 persons) and Germany (162 cubic meters per 1000 persons).
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by France (with a CAGR of +21.4%), while consumption for the other global leaders experienced more modest paces of growth.
Consumption By Type
The products with the highest volumes of consumption in 2022 were fibreboard (153M cubic meters), particle board (147M cubic meters) and plywood (111M cubic meters), together accounting for 96% of global consumption.
From 2012 to 2022, the biggest increases were recorded for particle board (with a CAGR of +4.3%), while consumption for the other products experienced more modest paces of growth.
In value terms, fibreboard ($92.3B), plywood ($57.5B) and particle board ($55.1B) constituted the products with the highest levels of market value in 2022, with a combined 89% share of the global market.
Particle board, with a CAGR of +5.8%, saw the highest rates of growth with regard to market size among the main consumed products over the period under review, while market for the other products experienced more modest paces of growth.
Production
World Production of Wood-Based Panels
In 2022, the amount of wood-based panels produced worldwide amounted to 437M cubic meters, almost unchanged from the previous year. The total output volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2016 when the production volume increased by 5.2% against the previous year. Over the period under review, global production attained the maximum volume in 2022 and is expected to retain growth in years to come.
In value terms, wood-based panels production declined slightly to $184.2B in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 10%. Global production peaked at $217.4B in 2016; however, from 2017 to 2022, production failed to regain momentum.
Production By Country
China (175M cubic meters) constituted the country with the largest volume of wood-based panels production, comprising approx. 40% of total volume. Moreover, wood-based panels production in China exceeded the figures recorded by the second-largest producer, the United States (37M cubic meters), fivefold. Russia (18M cubic meters) ranked third in terms of total production with a 4% share.
In China, wood-based panels production expanded at an average annual rate of +2.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+1.7% per year) and Russia (+3.3% per year).
Production By Type
The products with the highest volumes of production in 2022 were fibreboard (153M cubic meters), particle board (144M cubic meters) and plywood (111M cubic meters), with a combined 96% share of global production.
From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key produced products, was attained by particle board (with a CAGR of +4.0%), while production for the other products experienced more modest paces of growth.
In value terms, the largest types of wood-based panels in terms of market size were fibreboard ($59.2B), particle board ($57.1B) and plywood ($55.4B), together comprising 87% of global production.
In terms of the main produced products, particle board, with a CAGR of +6.3%, recorded the highest rates of growth with regard to market size over the period under review, while production for the other products experienced mixed trends in the production figures.
Imports
World Imports of Wood-Based Panels
In 2022, purchases abroad of wood-based panels decreased by -8.4% to 108M cubic meters for the first time since 2019, thus ending a two-year rising trend. Overall, total imports indicated notable growth 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, imports increased by +59.1% against 2012 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 25% against the previous year. As a result, imports attained the peak of 118M cubic meters, and then declined in the following year.
In value terms, wood-based panels imports shrank modestly to $49.2B in 2022. In general, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 +38.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 41% against the previous year. As a result, imports attained the peak of $50.1B, and then declined in the following year.
Imports By Country
In 2022, the United States (16M cubic meters), distantly followed by Belgium (6.3M cubic meters), France (6.1M cubic meters), the Netherlands (5.1M cubic meters) and Germany (4.9M cubic meters) represented the key importers of wood-based panels, together making up 36% of total imports. The following importers - China (4.7M cubic meters), Poland (3.6M cubic meters), Spain (3.4M cubic meters), Italy (3M cubic meters), the UK (3M cubic meters), South Korea (2.9M cubic meters), Japan (2.6M cubic meters) and Denmark (2.4M cubic meters) - together made up 24% of total imports.
From 2012 to 2022, average annual rates of growth with regard to wood-based panels imports into the United States stood at +7.5%. At the same time, Belgium (+17.3%), Spain (+16.2%), Denmark (+13.9%), China (+13.3%), France (+12.0%), Poland (+9.5%), the Netherlands (+7.1%), Italy (+3.8%), the UK (+3.5%) and South Korea (+2.6%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing importer imported in the world, with a CAGR of +17.3% from 2012-2022. Germany experienced a relatively flat trend pattern. By contrast, Japan (-4.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Belgium, the United States, France, China and Spain increased by +3.9, +3.5, +2.8, +2.4 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the United States ($10.1B) constitutes the largest market for imported wood-based panels worldwide, comprising 20% of global imports. The second position in the ranking was taken by Germany ($2.9B), with a 5.9% share of global imports. It was followed by Japan, with a 4.5% share.
In the United States, wood-based panels imports expanded at an average annual rate of +9.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+2.4% per year) and Japan (-2.5% per year).
Imports By Type
The imports of the three major types of wood-based panels, namely particle board, plywood and fibreboard, represented more than two-thirds of total import. It was distantly followed by veneer sheets (7.9M cubic meters), creating a 7% share of total imports.
From 2012 to 2022, the biggest increases were recorded for veneer sheets (with a CAGR of +9.6%), while purchases for the other products experienced more modest paces of growth.
In value terms, plywood ($17.7B), fibreboard ($13.2B) and particle board ($12.9B) constituted the products with the highest levels of imports in 2022, with a combined 90% share of global imports.
Among the main imported products, particle board, with a CAGR of +6.4%, recorded the highest growth rate of 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 wood-based panels import price stood at $456 per cubic meter in 2022, growing by 7.3% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 12% against the previous year. Global import price peaked at $483 per cubic meter in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by the product type; the product with the highest price was veneer sheets ($636 per cubic meter), while the price for particle board ($297 per cubic meter) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by particle board (+0.4%), while the other products experienced a decline in the import price figures.
Import Prices By Country
The average wood-based panels import price stood at $456 per cubic meter in 2022, growing by 7.3% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 12% against the previous year. Over the period under review, average import prices reached the maximum at $483 per cubic meter in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($840 per cubic meter), while Denmark ($179 per cubic meter) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.7%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Wood-Based Panels
After two years of growth, overseas shipments of wood-based panels decreased by -10.9% to 102M cubic meters in 2022. The total export volume increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 21% against the previous year. As a result, the exports attained the peak of 115M cubic meters, and then reduced in the following year.
In value terms, wood-based panels exports fell to $48.2B in 2022. The total export value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 44%. As a result, the exports attained the peak of $52.2B, and then shrank in the following year.
Exports By Country
In 2022, China (13M cubic meters), followed by Canada (8.6M cubic meters), France (6.2M cubic meters), Thailand (6.2M cubic meters), Russia (5.4M cubic meters), Germany (5.3M cubic meters) and Belgium (5.1M cubic meters) represented the largest exporters of wood-based panels, together comprising 49% of total exports. Brazil (4.2M cubic meters), Spain (3.7M cubic meters), Poland (3.5M cubic meters), Turkey (2.9M cubic meters), Indonesia (2.7M cubic meters) and the Netherlands (2.6M cubic meters) followed a long way behind the leaders.
From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +20.7%), while shipments for the other global leaders experienced more modest paces of growth.
In value terms, China ($6.8B), Canada ($4.8B) and Germany ($3.4B) constituted the countries with the highest levels of exports in 2022, with a combined 31% share of global exports. Russia, Indonesia, Poland, Belgium, Brazil, Spain, Thailand, Turkey, France and the Netherlands lagged somewhat behind, together comprising a further 31%.
Among the main exporting countries, Turkey, with a CAGR of +11.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Exports By Type
In 2022, particle board (41M cubic meters), plywood (32M cubic meters) and fibreboard (29M cubic meters) was the major type of wood-based panels in the world, creating 94% of total export. It was distantly followed by veneer sheets (6.8M cubic meters), mixing up a 6.2% share of total exports.
From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exported products, was attained by veneer sheets (with a CAGR of +9.9%), while the other products experienced more modest paces of growth.
In value terms, the largest types of exported wood-based panels were plywood ($17.6B), fibreboard ($13.5B) and particle board ($13.2B), together accounting for 90% of global exports.
Particle board, with a CAGR of +6.5%, recorded the highest growth rate of 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
In 2022, the average wood-based panels export price amounted to $472 per cubic meter, growing by 3.7% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 18% against the previous year. Over the period under review, the average export prices attained the peak figure at $492 per cubic meter in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the product type; the product with the highest price was veneer sheets ($740 per cubic meter), while the average price for exports of particle board ($321 per cubic meter) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by particle board (+1.5%), while the other products experienced a decline in the export price figures.
Export Prices By Country
The average wood-based panels export price stood at $472 per cubic meter in 2022, picking up by 3.7% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 18% against the previous year. Over the period under review, the average export prices hit record highs at $492 per cubic meter in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.
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 Indonesia ($762 per cubic meter), while the Netherlands ($151 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 (+4.8%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global wood-based panels market. 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 1647 - Hardboard
- FCL 1648 - MDF/HDF
- FCL 1650 - Other fibreboard
- FCL 1697 - Particle board
- FCL 1606 - OSB
- FCL 1640 - Plywood
- FCL 1634 - Veneer sheets
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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Ongoing urbanization in Asia, combined with rising household income and an increase in the construction of new housing in the U.S., will continue to drive the global market for wood based panels.
In 2015, the wood-based panel market grew to X thousand cubic meters.
Global wood-based panel market production was estimated at X thousand cubic meters in 2015, which was X thousand cubic meters more than in 2013. There was an annual increase of +X% in physical terms for the period from 2007 to 2014.
From 2007 to 2015, global wood-based panel market showed mixed dynamics. A significant drop in 2008-2009 was followed by a gradual increase. In 2015, the wood-based panel market grew to X thousand cubic meters. The market value showed similar dyn
From 2007 to 2015, global exports on the wood-based panel market showed mixed dynamics, finally decreasing to X million USD in 2015. In physical terms, they reached X thousand cubic meters in 2015, which was X thousand cubic meters more tha
In 2015, the value of total imports on the global wood-based panel market decreased to X million USD. In physical terms, the total volume of wood-based panels reached X thousand cubic meters in 2015, which was X thousand cubic meters (X%) m
China dominates in the global wood-based panel trade. In 2014, China exported X thousand tons of wood-based panels totaling X million USD, X% over the previous year. Its primary trading partner was the U.S., where it supplied X% of its tota
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