ASEAN: Insulating Board Market 2024

Insulating Board Market Size in ASEAN

In 2022, the ASEAN insulating board market increased by 8.7% to $X, rising for the third consecutive year after two years of decline. In general, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked in 2022 and is likely to see steady growth in years to come.

Insulating Board Production in ASEAN

In value terms, insulating board production totaled $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 20%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Insulating Board Exports

Exports in ASEAN

In 2022, insulating board exports in ASEAN skyrocketed to X cubic meters, increasing by 17% on 2021 figures. In general, exports, however, recorded a mild downturn. Over the period under review, the exports reached the maximum at X cubic meters in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, insulating board exports soared to $X in 2022. Over the period under review, exports, however, saw a deep setback. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand represented the largest exporting country with an export of about X cubic meters, which amounted to 84% of total exports. It was distantly followed by Malaysia (X cubic meters), committing a 16% share of total exports.

Thailand was also the fastest-growing in terms of the insulating board exports, with a CAGR of +3.2% from 2012 to 2022. Malaysia (-10.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand increased by +33 percentage points.

In value terms, Thailand ($X) remains the largest insulating board supplier in ASEAN, comprising 76% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 23% share of total exports.

In Thailand, insulating board exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in ASEAN stood at $X per cubic meter in 2022, increasing by 3.2% against the previous year. In general, the export price, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2019 an increase of 20% against the previous year. Over the period under review, the export prices attained the peak figure at $X per cubic meter in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (-2.5%).

Insulating Board Imports

Imports in ASEAN

In 2022, approx. X cubic meters of insulating board were imported in ASEAN; with an increase of 83% against the previous year. In general, imports, however, recorded a deep downturn. The volume of import peaked at X cubic meters in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, insulating board imports skyrocketed to $X in 2022. Overall, imports, however, showed a deep slump. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Philippines represented the major importing country with an import of around X cubic meters, which amounted to 53% of total imports. It was distantly followed by Vietnam (X cubic meters), Indonesia (X cubic meters) and Malaysia (X cubic meters), together generating a 43% share of total imports. Thailand (X cubic meters) held a relatively small share of total imports.

The Philippines was also the fastest-growing in terms of the insulating board imports, with a CAGR of +50.0% from 2012 to 2022. Indonesia (-4.4%), Thailand (-4.7%), Malaysia (-14.7%) and Vietnam (-16.0%) illustrated a downward trend over the same period. The Philippines (+53 p.p.) and Indonesia (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia and Vietnam saw its share reduced by -10.3% and -43.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest insulating board importing markets in ASEAN were the Philippines ($X), Vietnam ($X) and Indonesia ($X), together comprising 85% of total imports.

In terms of the main importing countries, the Philippines, with a CAGR of +40.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per cubic meter, falling by -21.2% against the previous year. In general, the import price continues to indicate a noticeable contraction. The pace of growth was the most pronounced in 2021 when the import price increased by 37%. The level of import peaked at $X per cubic meter in 2012; however, from 2013 to 2022, import prices remained at a 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 ($X per cubic meter), while the Philippines ($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 Malaysia (+1.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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