Over the period from 2013 to 2023, the production of wood chips, wood particles, and wood residues in Thailand exhibited notable fluctuations. Initially stable from 2013 to 2014, production values surged in 2015, followed by a decline in 2016. From 2017 to 2019, production saw a gradual decline, and from 2020 to 2022, it remained constant. A recovery was noticed in 2023 with a 5.19% increase year-on-year, finishing at 8.1376 million cubic meters. The compound annual growth rate (CAGR) for the past five years was -2.27%.
Looking forward, the forecast from 2024 to 2028 suggests a moderate recovery with a forecasted 5-year CAGR of 1.7%, resulting in an 8.81% overall growth rate by 2028.
Future trends to watch for:
- Technological advancements in wood processing.
- Regulatory changes impacting sustainable forestry practices.
- Shifts in global demand affecting regional production.
