In June 2025, the GTI-Woodbased Panel (GTI-WBP) Index registered 57.7%, an increase of 7.2 percentage points from the previous month and above the critical value (50%) for the third consecutive month, indicating that in the GTI pilot countries, the overall business prosperity of wood-based panel industry represented by the index expanded from the previous month.

On the demand side, the overall demand for wood-based panels in the GTI-WBP pilot countries showed signs of recovery. This month, the new orders index rose by 6.7 percentage points to 55.9%, the export orders index increased by 3.5 percentage points to 54.5%, and the existing orders index climbed by 5.7 percentage points to 54.9%. Overall, both domestic and international markets for wood-based panels improved. Notably, the international market for wood-based panels had remained in expansion for three consecutive months, partly due to companies rushing to stockpile inventory ahead of potential tariff changes under U.S. trade policies.

On the supply side, the supply of wood-based panels in the pilot countries showed an upward trend for the fourth consecutive month. The production index rose to 61.1%, up 6.7 percentage points from the previous month. The delivery time index rose by 7.4 percentage points to 59.1%, indicating further easing of logistics bottlenecks. However, the inventory index of finished products rose to 58.8%, suggesting growing inventory risk for some wood-based manufacturers and thus it’s necessary to stay cautious about overcapacity. 

In terms of prices, the purchase price index for raw materials recorded 59.3%, remaining above the critical value for the 12th consecutive month, indicating that the costs of raw materials continued to rise. This month, Malaysia, Ghana, Brazil, Mexico, and China recorded rising raw material prices. In addition, rising electricity tariffs, land taxes, labor costs, and transportation expenses were reported as major challenges impacting production and operations of the enterprises.

Main updates related to the wood-based panel market include: Recently, China's plywood industry faced significant export challenges. On 10 June, the European Commission officially announced a preliminary affirmative determination in the antidumping duty investigation of hardwood plywood from China, imposing a duty rate of up to 62.4%. On 12 June, the U.S. Department of Commerce announced the initiation of antidumping duty and countervailing duty investigations on hardwood and decorative plywood from China, Indonesia, and Vietnam, and the preliminary antidumping duty rate for Chinese products was set at 504.07%. In May, Brazil’s tropical plywood exports fell by 27% in value to US$1.6 million, and by 20% in volume to 2800 cubic meters. In the first quarter of this year, plywood exports from Sarawak, Malaysia reached RM317 million, an increase of 4% compared to RM305 million for the same period last year.

GTI-Woodbased Panel (GTI-WBP) Report - June 2025.pdf