Wood-Based Panels Market in Russia: Falling demand, production under pressure, hopes pinned on Central Bank’s easing policy

In July 2025, the Russian wood-based panels market continued to undergo a period of transformation driven by structural changes in the economy and a sustained decline in domestic demand. Slowing construction and furniture manufacturing, a stronger ruble and high borrowing costs kept demand at its lowest levels in recent years.

Manufacturers of wood-based panels are adapting their strategies by adjusting production volumes, strengthening their presence in premium and export segments, exploring new sales channels, and reshaping their product portfolios.

The Bank of Russia’s decision on July 25, 2025, to lower the key interest rate to 18% per annum, along with a moderate recovery in consumer activity fueled by the outflow of funds from deposits, are viewed by market participants as potential drivers of recovery in H2 2025.

Read more in the monthly price report Wood-Based Panels Market in Russia.