Updated Feb 26, 2023 16:27

Plywood Market in Saudi Arabia

Market Overview
The Saudi plywood market skyrocketed to $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed mild growth. Plywood consumption peaked at $ in 2015; however, from 2016 to , consumption remained at a lower figure.


Consumption
In , approx. cubic meters of plywood were consumed in Saudi Arabia; increasing by % on the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, consumption hit record highs at cubic meters in 2015; however, from 2016 to , consumption remained at a lower figure.

The value of the plywood market in Saudi Arabia soared to $ in , growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption posted slight growth. Over the period under review, the market attained the maximum level at $ in 2015; however, from 2016 to , consumption stood at a somewhat lower figure.


Market Forecast
The plywood market is expected to start a downward consumption trend over the next eight years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eight-year period from to , which is projected to depress the market volume to cubic meters by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Plywood market in Saudi Arabia consists almost entirely of imported products.


Trade Balance
Saudi Arabia remains a net importer of plywood; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of cubic meters, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.