MDF market in Eastern Asia

Earlier Report Observations

The MDF market volume in Eastern Asia grew from 55 957 thousand m³ in 2018 to 58 943 thousand m³ in 2019, driven by China's massive infrastructure investment plan of $1.43 trillion and simultaneous expansion of production capacity by key manufacturers. Market volume stabilized at 58 869 thousand m³ in 2020 as supply chain disruptions from the COVID-19 pandemic were offset by a rapid recovery in domestic construction and furniture demand.

From 2021 onward, the market entered a phase of contraction, with volume declining to 56 050 thousand m³ in 2021 and further to 50 310 thousand m³ in 2022. During this period, regulatory emphasis shifted toward environmentally friendly building materials and sustainable production, while trade policy changes and intensified competition among producers reshaped market conditions.

By 2023, market volume had decreased to 47 916 thousand m³, marking a cumulative adjustment over the five-year period amid an industry-wide transition toward higher environmental standards and technological upgrades.

Production MDF in Eastern Asia

In kind, 2017-2020, K m³

Top producers of MDF, 2017-2020

World map of production of MDF, 2017-2020

Eastern Asia's MDF production volume increased for the second consecutive year. In 2020, the region produced 60 064 K m³ of MDF, remaining relatively stable compared to 2019. Looking at the period from 2017 to 2020, production grew by 2.6%, which translates to an annualized rate of 0.8%. The lowest production level was recorded in 2018 at 57 288 K m³, marking the largest decline of 2.2% during this timeframe. In contrast, the most significant increase occurred in 2019, with a rise of 4.7%.

Annual dynamics of production in Eastern Asia in kind, 2017-2020, K m³

In value, 2017-2020, M $ US

Eastern Asia's MDF production value declined for the second consecutive year. In 2020, the output was valued at 21 014 M $ US, reflecting a modest decrease of 8.6% from 2019. Over the 2017-2020 period, production value increased by 3.4%, with a compound annual growth rate (CAGR) of 1.1%. The highest value was recorded in 2018 at 23 154 M $ US, which also saw the largest increase of 14.0%.

Annual dynamics of production in Eastern Asia in value, 2017-2020, M $ US

Exports MDF from Eastern Asia

Exports in kind, K m³

Exported MDF volumes from Eastern Asia declined for the third consecutive year. In 2020, exports were recorded at 2 166 K m³, representing a moderate year-over-year decline of 3.1%. From 2017 to 2020, exports decreased by 27.8%, with a compound annual growth rate (CAGR) of -10.3%.

Annual dynamics of product's exports from Eastern Asia in kind, 2017-2020, K m³

Between 2017 and 2020, MDF from Eastern Asia was exported to a diverse range of markets. The top three destinations—the United States (13.0% of exports in volume), Nigeria (12.0%), and Saudi Arabia (8.4%)—collectively accounted for 33.4% of total exports. The remaining 66.6% was distributed among numerous smaller markets.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Eastern Asia in kind, 2017-2020

Exports in value, M $ US

Eastern Asia's MDF export value declined for the third consecutive year. In 2020, exports amounted to 758 M $ US, showing a significant drop of 11.6% compared to the previous year. From 2017 to 2020, export value decreased by 27.2%, equating to an annualized rate of -10.0%.

Annual dynamics of product's exports from Eastern Asia in value, 2017-2020, M $ US

From 2017 to 2020, the export value landscape for MDF from Eastern Asia was broad. The United States (17.6% of exports in value), Nigeria (10.2%), and Russia (5.8%) together made up 33.7% of total flows. The substantial majority, 66.3%, went to many other countries.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Eastern Asia in value, 2017-2020

Imports MDF to Eastern Asia

Imports in kind, K m³

After two years of growth, imported MDF volumes into Eastern Asia declined. In 2020, imports totaled 971 K m³, which is 18.9% lower than in 2019. The peak import volume was recorded in 2019 at 1 197 K m³, while the largest increase occurred in 2018 with a rise of 22.4%.

Annual dynamics of product's imports to Eastern Asia in kind, 2017-2020, K m³

Between 2017 and 2020, New Zealand (35.5% of imports in volume), Malaysia (17.4%), and Thailand (15.9%) consistently served as the primary sources for MDF imports into Eastern Asia, together accounting for 68.7% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Eastern Asia in kind, 2017-2020

Imports in value, M $ US

MDF import value into Eastern Asia declined for the second consecutive year. In 2020, imports were valued at 362 M $ US, equivalent to a decrease of 19.5% from the previous year. Over the 2017-2020 period, import value fell by 6.7%, with an annualized rate of -2.3%. The highest value was recorded in 2018 at 453 M $ US, which also saw the largest increase of 16.7%.

Annual dynamics of product's imports to Eastern Asia in value, 2017-2020, M $ US

From 2017 to 2020, New Zealand (33.7% of imports in value), Malaysia (18.5%), and Thailand (7.9%) formed the main group of sources for MDF imports into Eastern Asia in value terms, with a combined share of 60.1% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Eastern Asia in value, 2017-2020