Particle board of wood market in Eastern Asia

Earlier Report Observations

The particle board market in Eastern Asia expanded from 33.7 thousand m³ in 2018 to 47.4 thousand m³ in 2023. This growth was primarily driven by rapid capacity expansion in China, where particle board became the second largest panel type with continuous additions of new production lines. Steady demand from construction projects in Thailand and Malaysia, along with the furniture manufacturing sector, particularly custom furniture, supported this supply increase.

Technological advancements, such as the adoption of continuous pressing, improved product quality and production efficiency. By 2021, the launch of high-performance products like oriented strand board (OSB) broadened application areas. Environmental regulations and the 'dual carbon' policy encouraged production upgrades, sustaining market volume growth despite raw material price volatility.

Capacity growth accelerated in 2022-2023, with 36 new lines added in 2023 alone, increasing total capacity by over 10 million m³. Industry consolidation and enhanced export competitiveness further contributed to market expansion. Although a minor contraction occurred in 2020, the overall upward trend was maintained due to these structural drivers.

Production particle board of wood in Eastern Asia

In kind, 2017-2020, K m³

Top producers of particle board of wood, 2017-2020

World map of production of particle board of wood, 2017-2020

Following two years of growth, particle board production in Eastern Asia experienced a decline. In 2019, production reached its peak at 32 398 K m³, but by 2020 it had fallen to 31 290 K m³, representing a year-over-year decrease of 3.4%. Over the 2017-2020 period, production increased by 5.1%, which translates to an average annual growth rate of 1.7%. The most significant annual increase occurred in 2018, when production rose by 5.7%.

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

In value, 2017-2020, M $ US

Particle board production in Eastern Asia declined for the second consecutive year. In 2020, the output was valued at 8 112 M $ US, showing a controlled decrease of 3.4% compared to 2019. Between 2017 and 2020, production value increased by 4.5%, equivalent to an annualized growth rate of 1.5%. The highest value was recorded in 2018 at 9 147 M $ US. That same year saw the largest increase of 17.9%, while 2019 experienced the most significant decline of 8.2%.

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

Exports particle board of wood from Eastern Asia

Exports in kind, K m³

Eastern Asia's particle board exports have grown for three consecutive years. In 2020, exports reached 249 K m³, marking a moderate year-over-year increase of 6.6%. Over the 2017-2020 period, export volumes increased by 39.8%, which corresponds to an average annual growth rate of 11.8%.

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

Between 2017 and 2020, Eastern Asia's particle board exports showed considerable geographical diversification. The United Arab Emirates accounted for 13.4% of exports, Saudi Arabia for 6.8%, and the Philippines for 6.1%. Together, these three markets represented just 26.4% of total export flows, with the remaining 73.6% distributed among numerous smaller trading partners.

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

Particle board exports from Eastern Asia have increased for three consecutive years. In 2020, export value reached 64.5 M $ US, representing a 6.6% increase compared to the previous year. Over the 2017-2020 period, export value grew by 39%, equivalent to an average annual growth rate of 11.6%.

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

During the 2017-2020 period, several key markets played notable but not dominant roles in Eastern Asia's particle board exports. The United Arab Emirates accounted for 12.1% of export value, Saudi Arabia for 6.1%, and Asia (not elsewhere specified) for another 6.1%. Together, these three markets represented 24.3% of total export value.

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 particle board of wood to Eastern Asia

Imports in kind, K m³

Eastern Asia imported 2 260 K m³ of particle board in 2020, showing a slight year-over-year increase of 2.9%. Over the 2017-2020 period, imports decreased by 2.7%, equivalent to an average annual decline of 0.9%. The lowest import volume occurred in 2019 at 2 196 K m³, which represented an 8.6% decrease from the previous year. The highest volume was recorded in 2018 at 2 402 K m³, when imports increased by 3.4%.

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

Between 2017 and 2020, three principal suppliers dominated Eastern Asia's particle board imports: Thailand, Malaysia, and Austria. Together, these three countries accounted for 72.2% of total import volume.

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

Particle board imports to Eastern Asia declined for the second consecutive year. In 2020, import value amounted to 386.0 M $ US, remaining relatively stable compared to the previous year. Over the 2017-2020 period, import value decreased by 11.4%, equivalent to an average annual decline of 3.9%. The highest value was recorded in 2018 at 451.4 M $ US, when imports increased by 3.7%. The most significant decline occurred in 2019, when import value fell by 14.3%.

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

Between 2017 and 2020, three principal suppliers accounted for the majority of Eastern Asia's particle board imports by value: Thailand, Austria, and Malaysia. Together, these three countries represented 65.5% of total import value.

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

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