Veneer sheets market in Latin America and the Caribbean

Earlier Report Observations

From 2018 to 2020, the veneer sheets market in Latin America and the Caribbean showed considerable movement, growing from 1 140 thousand m³ to 1 751 thousand m³ in 2019. This increase occurred alongside reported structural challenges in the regional plywood industry, including rising labor costs and constrained raw material supplies. The following year, the COVID-19 pandemic led to construction delays and reduced consumer spending on non-essential items, causing market volume to contract to 1 640 thousand m³.

Market volume rebounded strongly to 2 001 thousand m³ in 2021. By 2023, growth was supported by rising demand for sustainable and responsibly sourced plywood, fueled by greater environmental awareness and regulations, as well as ongoing construction and infrastructure projects, which helped push the market to 1 852 thousand m³.

In 2024, the Latin American plywood market was valued at approximately USD 3.69 billion. Technological advances in lamination and finishing improved the quality of veneer sheets, while the launch of new eco-friendly and fire-resistant plywood products highlighted a continued industry focus on innovation and sustainability.

Production veneer sheets in Latin America and the Caribbean

In kind, 2017-2020, K m³

Top producers of veneer sheets, 2017-2020

World map of production of veneer sheets, 2017-2020

After two consecutive years of growth, veneer sheet production in Latin America and the Caribbean declined. In 2020, production reached 1 572 K m³, showing little change compared to the previous year. Between 2017 and 2020, production increased by 11.4%, which translates to an average annual growth rate of 3.7%. The highest production level was recorded in 2019 at 1 580 K m³, while the largest year-on-year increase occurred in 2018 at 11.6%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K m³

Exports veneer sheets from Latin America and the Caribbean

Exports in kind, K m³

The export market for veneer sheets showed an unstable trend during the period. Exports peaked in 2018 at 1 367 K m³ and reached their lowest point in 2019 at 259 K m³, representing a 5.3-fold difference between these years. In 2020, Latin America and the Caribbean exported 480 K m³ of veneer sheets, marking an 85.1% increase compared to 2019. The largest decline occurred in 2019 at 81.0%, while the largest increase was recorded in 2018 at 277.0%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, K m³

From 2017 to 2020, the main destinations for veneer sheet exports from Latin America and the Caribbean were the Philippines, accounting for 45.9% of exports, Malaysia with 14.2%, and South Korea with 11.8%. Together, these three countries represented 71.9% of total export flows.

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

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, K $ US

In 2020, the value of veneer sheet exports from Latin America and the Caribbean amounted to 66 902 K US dollars, showing a modest increase of 3.6% compared to 2019. Between 2017 and 2020, export values grew by 10%, equivalent to an average annual growth rate of 3.2%. The highest value was recorded in 2018 at 73 807 K US dollars. The largest decline occurred in 2019 at 12.5%, while the largest increase was in 2018 at 21.4%.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, K $ US

From 2017 to 2020, the partner portfolio for veneer sheet exports in value terms from Latin America and the Caribbean was quite diverse. South Korea accounted for 20.1% of export value, Malaysia for 17.4%, and the United States for 11.4%. Together, these three countries represented 48.9% of total export flows.

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

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports veneer sheets to Latin America and the Caribbean

Imports in kind, K m³

After two years of decline, veneer sheet imports into Latin America and the Caribbean increased. In 2020, imports reached 539 K m³, representing a 28.9% gain compared to 2019. Between 2017 and 2020, imports decreased by 46.2%, which equates to an average annual decline of 18.7%. The lowest import volume was recorded in 2019 at 418 K m³, while the largest decline occurred in the same year at 57.6%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, K m³

From 2017 to 2020, Spain was the leading source of veneer sheet imports into Latin America and the Caribbean, accounting for 44.6% of imports. The United States followed with 28.7%, and China with 9.1%. Together, these three countries represented 82.4% of total import flows.

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

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, K $ US

In 2020, cross-border shipments of veneer sheets into Latin America and the Caribbean totaled 89 251 K US dollars, up by 4.0% year-over-year. Over the period from 2017 to 2020, import values increased by 17.1%, with a compound annual growth rate of 5.4%. The largest decline was recorded in 2019 at 3.3%, while the largest increase occurred in 2018 at 16.4%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, K $ US

From 2017 to 2020, the United States was the top supplier of veneer sheets to Latin America and the Caribbean in value terms, accounting for 47.9% of imports. China followed with 13.6%, and Spain with 9.0%. Together, these three countries represented 70.6% of total import value.

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

World map of product's imports to Latin America and the Caribbean in value, 2017-2020