ASEAN: Hardboard Market 2024

Hardboard Market Size in ASEAN

The ASEAN hardboard market contracted modestly to $X in 2022, reducing by -3% against the previous year. Over the period under review, consumption recorded a slight reduction. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Hardboard Production in ASEAN

In value terms, hardboard production contracted to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 48%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Hardboard Exports

Exports in ASEAN

In 2022, after two years of growth, there was significant decline in overseas shipments of hardboard, when their volume decreased by -7.2% to X cubic meters. Overall, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 76%. Over the period under review, the exports hit record highs at X cubic meters in 2021, and then reduced in the following year.

In value terms, hardboard exports declined to $X in 2022. Over the period under review, exports, however, recorded a prominent increase. The growth pace was the most rapid in 2018 with an increase of 98%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Thailand was the largest exporting country with an export of about X cubic meters, which reached 57% of total exports. Malaysia (X cubic meters) held a 37% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (5.8%).

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +18.3%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Thailand ($X), Malaysia ($X) and Vietnam ($X) were the countries with the highest levels of exports in 2022, with a combined 100% share of total exports.

Malaysia, with a CAGR of +16.0%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per cubic meter in 2022, growing by 1.7% against the previous year. Over the period under review, the export price, however, recorded a slight downturn. The pace of growth was the most pronounced in 2018 an increase of 13% against the previous year. The level of export peaked at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per cubic meter), while Thailand ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+5.1%), while the other leaders experienced a decline in the export price figures.

Hardboard Imports

Imports in ASEAN

In 2022, purchases abroad of hardboard increased by 1.2% to X cubic meters, rising for the second year in a row after three years of decline. In general, imports enjoyed a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of 116% against the previous year. Over the period under review, imports attained the peak figure at X cubic meters in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, hardboard imports fell to $X in 2022. Overall, imports showed a pronounced expansion. The growth pace was the most rapid in 2016 with an increase of 112% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Vietnam (X cubic meters) and Malaysia (X cubic meters) prevails in imports structure, together generating 72% of total imports. Thailand (X cubic meters) held a 9.3% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (7.1%) and Indonesia (6.6%). Myanmar (X cubic meters) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +49.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hardboard importing markets in ASEAN were Vietnam ($X), Malaysia ($X) and Thailand ($X), together accounting for 80% of total imports. The Philippines, Indonesia and Myanmar lagged somewhat behind, together accounting for a further 18%.

The Philippines, with a CAGR of +48.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per cubic meter in 2022, declining by -6.1% against the previous year. Over the period under review, the import price showed a mild descent. The most prominent rate of growth was recorded in 2021 an increase of 10% against the previous year. The level of import peaked at $X per cubic meter in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per cubic meter), while Malaysia ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+1.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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