The development of China's wood-based panel industry in 2023 was generally stable. According to a 2023 statistical report on China's wood-based panel industry total production capacity of the wood-based panel secor was about 335 million cubic metres, up 2.2% year on year. The output value of wood-based panel products was about RMB764 billion, an increase of 15% year on year. The consumption of wood-based panel products was about 318 million cubic metres, an increase of 10% year on year.

In addition to Beijing, Tianjin, Shanghai, Tibet, Qinghai, Ningxia, the remaining 25 provinces had wood-based panel production in 2023. Eight provinces had a production of more than 10 million cubic metres.

Production growth in Central and South China regions was noted with Guangxi exceeding Shandong to become China's largest wood-based panel production province. At the end of 2023 there were more than 10,100 woodbased panel manufacturers in China, down 17% year-on-year.

Through the continuous promotion of supply-side structural reform the structure of China's wood-based panel industry has accelerated its adjustment, low production capacity has been eliminated and enterprises that have lost competitiveness have ceased operation.

Although the number of wood-based panel enterprises has decreased, the average production capacity of enterprises is steadily improving and new production lines were mostly large-scale and technologically advanced.

In order to enhance market share and drive the development of wood-based panel enterprises the scale of top enterprises continued to expand. By the end of 2023 there are nearly 235 large-scale wood-based panel production enterprises and enterprise groups. As of August 2024 there were 12 wood-based panel manufacturers with a total production capacity of more than 1 million cubic metres, of which 5 enterprises have a production capacity of more than 2 million cubic metres per year.

The total import and export volume of China's wood-based panels was 15.75 million cubic metres in 2023, an increase of 1.2%; The total value of imports and exports was US$6.761 billion, down 15% year-on-year.

China still is the major supplier of wood-based panels but in the context of the overall global trade China's woodbased panel industry needs to overcome many challenges.