The wood-based panels production in South America showed a steady volume in 2023 at 19.875 million cubic meters. The growth over the last two years (2022-2023) demonstrated a slight upward trend with a year-on-year variation of 1.98% for 2023, following a minor decline of -0.45% in 2022. From 2018 onward, production peaked in 2021 before normalizing and increasing gradually.
Analyzing the past five years, the Compound Annual Growth Rate (CAGR) stood at an average of 1.66%. This steady growth is reflective of market stabilization despite minor fluctuations in demand and production constraints.
Looking forward, the forecast up to 2028 suggests a moderate growth rate with an expected forecast 5-year CAGR of 1.42%, translating to an overall growth rate of 7.32%. This indicates a conservative yet positive outlook for the wood-based panels market in South America.
Future trends to watch for include:
- Technological advancements in production methods
- Increased demand for sustainable and eco-friendly products
- Economic influences and policy changes affecting trade and supply chain
- Impact of global market dynamics on regional production capabilities
