South-Eastern Asia: Hardboard Market 2024

Hardboard Market Size in South-Eastern Asia

The Southeast Asian hardboard market dropped to $X in 2022, waning by -3% against the previous year. In general, consumption saw a slight decrease. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Hardboard Production in South-Eastern Asia

In value terms, hardboard production declined to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 48% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Hardboard Exports

Exports in South-Eastern Asia

In 2022, after two years of growth, there was significant decline in shipments abroad of hardboard, when their volume decreased by -7.2% to X cubic meters. In general, exports, however, posted a buoyant increase. The growth pace was the most rapid in 2018 with an increase of 76%. The volume of export peaked at X cubic meters in 2021, and then fell in the following year.

In value terms, hardboard exports contracted to $X in 2022. Overall, exports, however, enjoyed a strong increase. The pace of growth was the most pronounced 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 represented the major exporter of hardboard in South-Eastern Asia, with the volume of exports finishing at X cubic meters, which was near 57% of total exports in 2022. Malaysia (X cubic meters) ranks second in terms of the total exports with a 37% share, 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, the largest hardboard supplying countries in South-Eastern Asia were Thailand ($X), Malaysia ($X) and Vietnam ($X), with a combined 100% share of total exports.

Among the main exporting countries, Malaysia, with a CAGR of +16.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per cubic meter, rising by 1.7% against the previous year. Overall, the export price, however, showed a slight downturn. The most prominent rate of growth was recorded in 2018 when the export price increased by 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 remained at a 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 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 South-Eastern Asia

In 2022, purchases abroad of hardboard increased by 1.2% to X cubic meters, rising for the second consecutive year after three years of decline. Overall, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 116%. The volume of import peaked at X cubic meters in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, hardboard imports dropped slightly to $X in 2022. In general, imports saw tangible growth. The growth pace was the most rapid in 2016 with an increase of 112% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Vietnam (X cubic meters) and Malaysia (X cubic meters) prevails in imports structure, together making up 72% of total imports. Thailand (X cubic meters) took 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) followed a long way behind the leaders.

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 South-Eastern Asia were Vietnam ($X), Malaysia ($X) and Thailand ($X), with a combined 80% share of total imports. The Philippines, Indonesia and Myanmar lagged somewhat behind, together accounting for a further 18%.

Among the main importing countries, the Philippines, with a CAGR of +48.7%, saw the highest rates of growth with regard to the value of imports, 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 South-Eastern Asia stood at $X per cubic meter in 2022, which is down by -6.1% against the previous year. Over the period under review, the import price continues to indicate a mild descent. The pace of growth appeared the most rapid in 2021 when the import price increased by 10% against the previous year. The level of import peaked at $X per cubic meter in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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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