According to Vietnam Timber and Forest Products Association, from a country that accounted for only about 1% of the world’s plywood export market share in 2015, Vietnam has now accounted for 5% of the total global export market share, ranked 5th in the world in terms of exporting this product.
In 2015, plywood exports only reached 724,000 cubic meter with a value of about 200 million USD, by 2020, this product’s export will reach 2.09 million cubic meter, bringing in a turnover of 659.74 million USD for the Vietnamese wood industry.
Currently, there are about 72 countries and territories consuming Vietnamese plywood, but plywood exports are mainly concentrated in 5 countries including: Korea, USA, Japan, Malaysia, and Thailand with over 84% of the total volume and export turnover. As reported by International Trade Center (ITC), the world spends about 16-17 billion USD each year on average to import this item, with an import volume of about 32-34 million m3 and the demand for timber. stickers are forecast to increase.
Currently, the world’s consumption trend tends to the use of environmentally friendly materials, light, minimalist and fashionable furniture with the trend of using more and more industrial board materials. In the future, Vietnam’s plywood industry will continue to expand and develop. Grasping the inclining demand of the market, there are now many businesses investing in this industry. According to the Vietnam Timber and Forest Products Association, up to now, there are more than 340 enterprises involved in production and export of plywood products. Particularly in 2020, there are about 20 factories of large and small scale that have gone into plywood production or are building new factories in provinces such as Thanh Hoa, Tuyen Quang, Bac Kan, Quang Ngai, Quang Nam, and Quang. Binh,etc. In particular, Vietnam received two new projects going into plywood production with an investment capital of over 14 million USD, with an expected capacity of 100,000 m3/year. In addition, the provinces also witnessed a shift in foreign investment in FDI projects producing this item when the amount of capital increased and contributed capital to buy shares increased.
Hang Nguyen-Sales Officer
Plywood Sale Department | VINAWOOD