Analysis of the wood-based panels production in Kenya reveals a period of stability from 2013 to 2019, with production consistently at 83.0 thousand cubic meters. A minor decline occurred in 2020 and continued through 2022, stabilizing at 82.0 thousand cubic meters. In 2023, production saw a slight increase to 83.53 thousand cubic meters. Forecasts indicate a steady growth trend from 2024 onwards, reaching 88.51 thousand cubic meters by 2028.
Year-on-year variation between 2021 and 2022 was 0%, with a marginal uptick of 1.86% in 2023. The compound annual growth rate (CAGR) for the past five years stands at 0.13%. Looking forward, the forecasted 5-year CAGR from 2024 to 2028 is 0.92%, projecting a 4.69% overall growth over the period.
Future trends to watch for include technological advancements in wood processing, shifts in environmental regulations, and increased demand for sustainable building materials, which could influence production dynamics significantly.
