The production of wood-based panels in Vietnam has shown a general upward trend from 2013 to 2023, despite some fluctuations. In 2023, the production stood at 3,299.3 thousand cubic meters, reflecting a 6.77% increase from the previous year. Over a longer span, from 2013 to 2023, the compound annual growth rate (CAGR) is approximately 15%, indicating robust sector expansion.
From 2024 onward, forecasts suggest continued steady growth. By 2028, production is expected to reach 4,301.9 thousand cubic meters, with a 5-year CAGR of 4.19% and an anticipated total growth rate of 22.77% from 2023 to 2028.
Future trends to watch for include potential impacts of environmental regulations, technological advancements in manufacturing, and shifts in global demand for wood-based products, which could either accelerate or moderate this growth.
