In March 2026, the GTI-Woodbased Panel (GTI-WBP) Index registered 50.7%, an increase of 10.0 percentage points from the previous month and above the critical value (50%) after six months, indicating that in the pilot countries, the overall business prosperity of the wood-based panel industry represented by the index expanded from the previous month.

On the demand side: Overall demand for wood-based panels increased in the GTI-WBP pilot countries. This month, the new orders index came in at 53.5%, and the export orders index was at 44.7%, indicating that the growth in new orders came primarily from the domestic market. Affected by the current international situation, the pilot countries’ foreign trade of wood-based panels encountered obstacles, leading to greater reliance on domestic markets.

On the supply side: This month, the production index for wood-based panels stood at 52.7%, up 15.0 percentage points from the previous month and above the 50% critical value after sixth months. This indicates an overall increase in production capacity, mainly due to enterprises’ adjustments of production plans in response to market demand and order conditions, as well as a diminished impact from holidays compared to the previous month. In March, the inventory index of finished products stood at 41.2% and remained below the critical value for two consecutive months, indicating that the enterprises’ inventory pressure had eased to some extent.

From a price perspective: The purchase price index for raw materials stood at 64.4%, above the critical value for a long time, indicating that prices of logs and other related production materials continued to rise. This month, affected by the conflict in the Middle East, energy prices increased significantly in many countries, further intensifying the cost pressures on wood-based panel enterprises.

Main updates related to the wood-based panel market include: On March 13, Ecuador and the United States signed a Reciprocal Trade Agreement (RTA), under which the tariff on plywood—which accounts for 51% of Ecuador’s forestry exports to the U.S.—will be reduced from 18% to 8%. In Brazil, according to the GTI focal point, the country’s plywood market was showing incipient signs of recovery following the downturn caused by tariff barriers imposed on Brazilian products in the North American market. In February, China’s exports of plywood and multilayer boards reached 1.19 million cubic meters, a year-on-year surge of 91.5%, and over the January–February period, its cumulative exports totaled 2.66 million cubic meters, an increase of 45.9% compared to the same period last year.

GTI-Woodbased Panel (GTI-WBP) Report - March 2026.pdf