From 2013 to 2023, the production of wood-based panels in China showcased a generally upward trend, albeit with fluctuations. In 2023, the production reached 182.18 million cubic meters, marking a 1.94% increase from the previous year. The production figures experienced a dip in 2017 and 2018, followed by a recovery, achieving steady growth from 2019 onwards. The five-year CAGR from 2018 to 2023 stood at 1.79%, indicating moderate growth after prior periods of higher year-on-year variations.
Future trends to watch for include:
• Technological advancements in production processes enhancing efficiency and output.
• Potential impacts of environmental policies and sustainability initiatives on production methods.
• Market demand fluctuations driven by construction and real estate sectors.
• The forecast suggests continued growth, with a projected 1.13% CAGR from 2023 to 2028, reflecting stable yet slow expansion.
