China: Mdf Market 2024

Mdf Market Size in China

For the third year in a row, the Chinese MDF market recorded decline in sales value, which decreased by -2.8% to $X in 2021. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. Consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Mdf Production in China

In value terms, MDF production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 15% against the previous year. Production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

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Mdf Exports

Exports from China

In 2021, overseas shipments of MDF were finally on the rise to reach X cubic meters after three years of decline. Over the period under review, exports, however, recorded a slight downturn. Over the period under review, the exports hit record highs at X cubic meters in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, MDF exports surged to $X in 2021. Overall, exports, however, continue to indicate a perceptible curtailment. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Vietnam (X cubic meters), Mexico (X cubic meters) and Nigeria (X cubic meters) were the main destinations of MDF exports from China, with a combined 16% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +31.4%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Nigeria ($X) and Vietnam ($X) were the largest markets for MDF exported from China worldwide, together accounting for 14% of total exports. These countries were followed by Mexico, Saudi Arabia, Canada, the United Arab Emirates, Russia, Australia, Chile, Egypt, Uzbekistan and Jordan, which together accounted for a further 19%.

Mexico, with a CAGR of +25.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average MDF export price stood at $X per cubic meter in 2021, falling by -3.2% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 15%. The export price peaked at $X per cubic meter in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per cubic meter), while the average price for exports to Vietnam ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Mdf Imports

Imports into China

In 2021, overseas purchases of MDF decreased by -5.2% to X cubic meters, falling for the second year in a row after two years of growth. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 16%. As a result, imports reached the peak of X cubic meters. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, MDF imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X cubic meters), New Zealand (X cubic meters) and Belgium (X cubic meters) were the main suppliers of MDF imports to China, together accounting for 30% of total imports. Spain, Switzerland, Indonesia, Poland, Romania, Malaysia, Thailand, Japan, Italy and Australia lagged somewhat behind, together comprising a further 17%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +54.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest MDF suppliers to China were Germany ($X), Belgium ($X) and Spain ($X), with a combined 33% share of total imports. These countries were followed by New Zealand, Switzerland, Poland, Italy, Indonesia, Romania, Thailand, Japan, Malaysia and Australia, which together accounted for a further 15%.

Romania, with a CAGR of +48.1%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average MDF import price stood at $X per cubic meter in 2021, rising by 33% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.9%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per cubic meter), while the price for Malaysia ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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