Waferboard Market

The global waferboard market is anticipated to witness growth in consumption, production, imports, and exports over the next eight-year period. By 2030, the market volume is projected to reach 219M cubic meters and market value to reach $72.1B. China leads in consumption and production, while France tops in exports. Key importing markets include Germany, Poland, and the United States. The average import price in 2022 was $182 per cubic meter, while the average export price stood at $189 per cubic meter in the same year.

Market Forecast

Driven by increasing demand for waferboards worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.2% for the period from 2022 to 2030, which is projected to bring the market volume to 219M cubic meters by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.6% for the period from 2022 to 2030, which is projected to bring the market value to $72.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Waferboard

In 2022, consumption of waferboards decreased by -1.4% to 184M cubic meters for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak volume of 189M cubic meters. From 2015 to 2022, the growth of the global consumption remained at a lower figure.

The global waferboard market value shrank to $54.5B in 2022, waning by -1.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a slight descent. As a result, consumption attained the peak level of $66.4B. From 2015 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

China (64M cubic meters) remains the largest waferboard consuming country worldwide, accounting for 35% of total volume. Moreover, waferboard consumption in China exceeded the figures recorded by the second-largest consumer, the United States (30M cubic meters), twofold. The third position in this ranking was held by Brazil (12M cubic meters), with a 6.4% share.

From 2012 to 2022, the average annual growth rate of volume in China stood at +1.9%. In the other countries, the average annual rates were as follows: the United States (-1.9% per year) and Brazil (-0.5% per year).

In value terms, the largest waferboard markets worldwide were China ($16.7B), the United States ($16.3B) and Russia ($2.9B), with a combined 66% share of the global market. Brazil, Germany, Canada, the UK, France, Poland, the Netherlands and Thailand lagged somewhat behind, together accounting for a further 18%.

The Netherlands, with a CAGR of +21.7%, recorded the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of waferboard per capita consumption in 2022 were the Netherlands (225 cubic meters per 1000 persons), Canada (139 cubic meters per 1000 persons) and Poland (106 cubic meters per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +24.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Waferboard

In 2022, after two years of growth, there was decline in production of waferboards, when its volume decreased by -0.7% to 182M cubic meters. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 8.7%. As a result, production attained the peak volume of 187M cubic meters. From 2015 to 2022, global production growth remained at a somewhat lower figure.

In value terms, waferboard production dropped slightly to $51.1B in 2022 estimated in export price. In general, production showed a slight shrinkage. The most prominent rate of growth was recorded in 2014 when the production volume increased by 7.7% against the previous year. As a result, production reached the peak level of $64.6B. From 2015 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

The country with the largest volume of waferboard production was China (63M cubic meters), accounting for 35% of total volume. Moreover, waferboard production in China exceeded the figures recorded by the second-largest producer, the United States (29M cubic meters), twofold. France (15M cubic meters) ranked third in terms of total production with an 8.1% share.

In China, waferboard production increased at an average annual rate of +1.9% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: the United States (-1.9% per year) and France (+26.2% per year).

Imports

World Imports of Waferboard

In 2022, global waferboard imports surged to 38M cubic meters, with an increase of 19% against the previous year. Overall, imports posted a strong expansion. The pace of growth was the most pronounced in 2020 when imports increased by 29% against the previous year. Global imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, waferboard imports stood at $7B in 2022. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +38.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 38% against the previous year. Over the period under review, global imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports By Country

The purchases of the twelve major importers of waferboards, namely the Netherlands, Belgium, France, Spain, Greece, Germany, Poland, Ireland, the United States, South Korea, Denmark and Italy, represented more than two-thirds of total import. China (837K cubic meters) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Greece (with a CAGR of +41.0%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest waferboard importing markets worldwide were Germany ($777M), Poland ($395M) and the United States ($368M), together accounting for 22% of global imports. Italy, France, the Netherlands, China, Spain, South Korea, Denmark, Belgium, Ireland and Greece lagged somewhat behind, together accounting for a further 26%.

China, with a CAGR of +19.4%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average waferboard import price stood at $182 per cubic meter in 2022, waning by -15.2% against the previous year. Over the period under review, the import price recorded a noticeable setback. The pace of growth appeared the most rapid in 2021 an increase of 23% against the previous year. Global import price peaked at $277 per cubic meter in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($390 per cubic meter), while Belgium ($27 per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Waferboard

In 2022, global waferboard exports soared to 37M cubic meters, jumping by 25% against the previous year. Over the period under review, total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +67.2% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 27%. Over the period under review, the global exports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, waferboard exports amounted to $7B in 2022. In general, total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +42.7% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 40%. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

In 2022, France (14M cubic meters) represented the largest exporter of waferboards, committing 38% of total exports. Thailand (2.5M cubic meters) held a 6.7% share (based on physical terms) of total exports, which put it in second place, followed by Belgium (5.4%) and Germany (5.2%). The following exporters - Russia (1.7M cubic meters), Austria (1.6M cubic meters), Spain (1.3M cubic meters), Turkey (1.2M cubic meters), Poland (0.8M cubic meters), Canada (0.8M cubic meters), Romania (0.7M cubic meters) and the Czech Republic (0.7M cubic meters) - together made up 24% of total exports.

France was also the fastest-growing in terms of the waferboards exports, with a CAGR of +24.8% from 2012 to 2022. At the same time, Turkey (+13.8%), Russia (+11.4%), Poland (+6.2%), Belgium (+5.7%), Spain (+5.4%), Thailand (+4.0%) and Germany (+1.7%) displayed positive paces of growth. Canada and the Czech Republic experienced a relatively flat trend pattern. By contrast, Austria (-2.1%) and Romania (-3.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of France increased by +29 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Austria ($854M), Germany ($712M) and Russia ($374M) were the countries with the highest levels of exports in 2022, with a combined 28% share of global exports. Thailand, France, Poland, Romania, Spain, Belgium, Turkey, Canada and the Czech Republic lagged somewhat behind, together accounting for a further 39%.

Turkey, with a CAGR of +15.1%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average waferboard export price stood at $189 per cubic meter in 2022, shrinking by -18.4% against the previous year. In general, the export price saw a perceptible reduction. The pace of growth was the most pronounced in 2021 an increase of 10%. The global export price peaked at $269 per cubic meter in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Austria ($520 per cubic meter), while France ($25 per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+7.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform