Colombia: Mdf Market 2024

Mdf Market Size in Colombia

After two years of decline, the Colombian MDF market increased by 21% to $X in 2021. The market value increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Mdf Production in Colombia

In value terms, MDF production expanded significantly to $X in 2021 estimated in export price. Overall, production recorded a significant expansion. The growth pace was the most rapid in 2013 when the production volume increased by 477% against the previous year. Production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

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Mdf Exports

Exports from Colombia

In 2021, overseas shipments of MDF decreased by -23.3% to X cubic meters for the first time since 2018, thus ending a two-year rising trend. Overall, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2020 with an increase of 186%. 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 dropped to $X in 2021. In general, exports recorded a deep setback. The most prominent rate of growth was recorded in 2019 when exports increased by 81%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Ecuador (X cubic meters) was the main destination for MDF exports from Colombia, with a 40% share of total exports. Moreover, MDF exports to Ecuador exceeded the volume sent to the second major destination, Venezuela (X cubic meters), twofold. Honduras (X cubic meters) ranked third in terms of total exports with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ecuador stood at +17.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-15.1% per year) and Honduras (-8.3% per year).

In value terms, Ecuador ($X) remains the key foreign market for MDF exports from Colombia, comprising 45% of total exports. The second position in the ranking was held by Venezuela ($X), with a 19% share of total exports. It was followed by Panama, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Ecuador totaled +27.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-10.8% per year) and Panama (-13.8% per year).

Export Prices by Country

The average MDF export price stood at $X per cubic meter in 2021, jumping by 22% against the previous year. In general, export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, MDF export price decreased by -23.0% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 45%. The export price peaked at $X per cubic meter in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per cubic meter), while the average price for exports to Haiti ($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 the United States (+19.7%), while the prices for the other major destinations experienced more modest paces of growth.

Mdf Imports

Imports into Colombia

In 2021, supplies from abroad of MDF increased by 7.6% to X cubic meters, rising for the fourth consecutive year after three years of decline. The total import volume increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 34% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, MDF imports surged to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Brazil (X cubic meters) constituted the largest MDF supplier to Colombia, with a 43% share of total imports. Moreover, MDF imports from Brazil exceeded the figures recorded by the second-largest supplier, China (X cubic meters), threefold. Chile (X cubic meters) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from Brazil stood at +46.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+3.7% per year) and Chile (-15.3% per year).

In value terms, Brazil ($X), China ($X) and Germany ($X) were the largest MDF suppliers to Colombia, with a combined 58% share of total imports. Chile, Turkey, Thailand, Ecuador and Venezuela lagged somewhat behind, together comprising a further 25%.

In terms of the main suppliers, Turkey, with a CAGR of +49.3%, saw the highest growth rate of the value of imports, 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, picking up by 19% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible downturn. Over the period under review, average import prices attained the peak figure at $X per cubic meter in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 Germany ($X per cubic meter), while the price for Venezuela ($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 Thailand (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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