In September 2026, the GTI-Woodbased Panel (GTI-WBP) Index registered 42.1%, up 1.6 percentage points from the previous month and below the critical value (50%) for six consecutive months, indicating that in the pilot countries, the overall business prosperity of wood-based panel industry represented by the index shrank from the previous month.

On the demand side: This month, the new orders index registered 39.6%, remaining in contraction territory below 50% for six consecutive months. Due to ongoing downturn in the global construction and real estate markets, overall demand for wood-based panels remained weak. The export orders index registered 36.1%, indicating a more significant decline in export markets than in domestic markets. Data also showed that the existing orders index registered 42.4%, remaining below the critical value throughout January-September, indicating that the total existing orders of sample enterprises continued to decline and the enterprises faced considerable operating pressure.

On the supply side: The production index registered 42.9%, up 7.3 percentage points from the previous month, remaining in contraction territory for six consecutive months, indicating that the decline in enterprise capacity narrowed but overall remained weak. Most enterprises continued to adopt a cautious, sales-driven production strategy, while some enterprises in pilot countries faced capacity constraints due to factors such as tight log supply. The inventory index of finished products registered 53.5%, up 5.8 percentage points from the previous month and returning above the 50% critical value after one month, indicating that against the backdrop of persistently weak demand, the wood-based panel market was overall in oversupply and inventory buildup pressure intensified again.

From the price perspective: The purchase price index for raw materials registered 56.3%, down 3.0 percentage points from the previous month. Although the index edged down, it remained above the critical value for many consecutive months, indicating that prices of logs and other related production materials were rising and enterprises faced considerable cost pressure. At the same time, enterprises also faced pressure from energy, logistics, taxes and fees, and labor costs, with profit margins continuing to be squeezed.

Main updates related to the wood-based panel market include: In August, China exported 1.25 million cubic meters of plywood and similar laminated wood, up 15.0% year on year; cumulative exports from January to August reached 9.65 million cubic meters, up 9.7% year on year. In Brazil, August plywood exports rose 20% year on year to 183,100 cubic meters. Analysts said that the U.S. tariff on Brazilian plywood fell from 50% a year earlier to no more than 12.5%, which helped to some extent promote the recovery of Brazil's plywood exports. In other news, according to the latest data from the Central Bank of Ecuador (BCE), Ecuador's wood-based panel industry exports reached US$279 million in 2025, accounting for 37.9% of total timber industry exports, with products mainly exported to Peru, Colombia, and Chile.

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