Veneer sheets market in Asia

Earlier Report Observations

The Asian veneer sheets market volume began at 13.0 million m³ in 2018, supported by robust consumer demand for high-end furniture and interior decoration. A significant contraction to 9.5 million m³ followed in 2019 as the industry entered a phase of rationalization and high-quality development, concurrently facing skilled labor shortages. The COVID-19 pandemic further pressured the market in 2020, stalling construction projects and reducing consumer spending on non-essential items, which kept volume near 9.5 million m³.

Market volume recovered to 11.3 million m³ in 2021, driven by technological innovations that introduced nanotechnology and functional fiber blends into high-grade veneer sheets, enhancing product diversity and functionality. The following year saw a decline to 9.9 million m³, a period marked by challenges from low-quality product imitations affecting market stability and intensified research into green, bio-based adhesive technologies. Growth returned in 2023, with volume reaching 10.1 million m³, primarily fueled by an increased number of residential and commercial construction projects across the region, even as the industry navigated raw material price fluctuations.

By 2024, the strategic focus of manufacturers had shifted decisively towards sustainability, with major companies promoting low-formaldehyde adhesives and eco-friendly products. Government policies supporting infrastructure development and a continuing consumer preference for high-end, personalized veneer sheets provided a sustained basis for market demand.

Production veneer sheets in Asia

In kind, 2017-2020, K m³

Top producers of veneer sheets, 2017-2020

World map of production of veneer sheets, 2017-2020

After two years of growth, veneer sheet production in Asia declined. In 2020, Asia produced 7 285 K m³ of veneer sheets, which was 5.3% lower than the previous year. Over the period from 2017 to 2020, production increased by 5.8%, with an average annual growth rate of 1.9%. The highest production level was recorded in 2019 at 7 694 K m³, while the largest year-on-year increase occurred in 2018 at 8.3%.

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

Exports veneer sheets from Asia

Exports in kind, K m³

Following two years of growth, Asia's veneer sheet exports declined. In 2020, Asia exported 1 066 K m³ of veneer sheets, representing a sharp 59.9% decrease compared to 2019. From 2017 to 2020, exports fell by 39.9%, with an average annual decline of 15.6%. The peak export volume was recorded in 2019 at 2 656 K m³, while the largest year-on-year increase occurred in 2018 at 32.6%.

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

The export market for veneer sheets from Asia was highly diversified between 2017 and 2020. The top three destinations—Asia, not elsewhere specified (9.3% of exports), the United States (2.8%), and Egypt (2.4%)—together accounted for just 14.4% of total export flows. The remaining 85.6% was distributed among numerous other countries.

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

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

Exports in value, M $ US

In 2020, Asia's veneer sheet exports reached 797 M $ US, marking a 1.3% increase compared to the previous year. Between 2017 and 2020, exports grew by 18.8%, with an average annual growth rate of 5.9%. The highest export value was recorded in 2018 at 801 M $ US, while the largest year-on-year decline occurred in 2019 at 1.7%. The largest year-on-year increase was in 2018 at 19.3%.

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

From 2017 to 2020, Asia's veneer sheet exports in value terms were spread across a wide range of markets. The top three destinations—Asia, not elsewhere specified (7.0% of exports), Egypt (2.3%), and Germany (2.1%)—together represented only 11.4% of total export flows.

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

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

Imports veneer sheets to Asia

Imports in kind, K m³

Asia's veneer sheet imports declined for the third consecutive year. In 2020, Asia imported {value_last_year} K m³ of veneer sheets, which was 28.3% lower than the previous year. Over the period from 2017 to 2020, imports decreased by 85.4%, with an average annual decline of 47.3%.

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

Between 2017 and 2020, Asia imported veneer sheets from many countries. Even the largest sources—New Zealand, Russia, and Slovenia—together accounted for only 24.5% of total imports in volume terms.

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

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

Imports in value, M $ US

Asia's veneer sheet imports increased for the third consecutive year. In 2020, Asia imported approximately 1 055 M $ US of veneer sheets, which was 1.6% higher than the previous year. From 2017 to 2020, imports grew by 17.2%, with an average annual growth rate of 5.4%.

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

Between 2017 and 2020, no single market dominated Asia's veneer sheet imports in value terms. The top three sources—Russia (14.8% of imports), the United States (5.4%), and Brazil (3.0%)—together accounted for only 23.2% of total imports, while many smaller partners each held modest individual shares.

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

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