ASEAN: Fiberboard Market 2024

Fiberboard Market Size in ASEAN

In 2022, the ASEAN fiberboard market increased by 0.5% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption, however, recorded a perceptible decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Fiberboard Production in ASEAN

In value terms, fiberboard production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a mild slump. The pace of growth was the most pronounced in 2017 when the production volume increased by 11% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Fiberboard Exports

Exports in ASEAN

After two years of growth, shipments abroad of fiber board of wood or other ligneous materials decreased by -1% to X cubic meters in 2022. Total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +33.4% against 2019 indices. The growth pace was the most rapid in 2020 when exports increased by 27%. The volume of export peaked at X cubic meters in 2021, and then reduced in the following year.

In value terms, fiberboard exports amounted to $X in 2022. The total export value increased at an average annual rate of +4.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 23%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

In 2022, Thailand (X cubic meters) was the main exporter of fiber board of wood or other ligneous materials, making up 75% of total exports. Indonesia (X cubic meters) ranks second in terms of the total exports with an 11% share, followed by Malaysia (10%). Vietnam (X cubic meters) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the fiber board of wood or other ligneous materials exports, with a CAGR of +9.5% from 2012 to 2022. At the same time, Indonesia (+9.3%) and Vietnam (+8.8%) displayed positive paces of growth. By contrast, Malaysia (-5.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand and Indonesia increased by +19 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest fiberboard supplier in ASEAN, comprising 66% of total exports. The second position in the ranking was held by Malaysia ($X), with a 15% share of total exports. It was followed by Indonesia, with an 11% share.

In Thailand, fiberboard exports increased at an average annual rate of +7.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-5.8% per year) and Indonesia (+10.3% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per cubic meter, rising by 5.4% against the previous year. Overall, the export price, however, saw a mild setback. The pace of growth was the most pronounced in 2019 when the export price increased by 26%. 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 Indonesia (+0.9%), while the other leaders experienced a decline in the export price figures.

Fiberboard Imports

Imports in ASEAN

In 2022, overseas purchases of fiber board of wood or other ligneous materials increased by 6.2% to X cubic meters, rising for the third consecutive year after two years of decline. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 36% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, fiberboard imports fell modestly to $X in 2022. The total import value increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 20% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

Vietnam represented the key importer of fiber board of wood or other ligneous materials in ASEAN, with the volume of imports recording X cubic meters, which was approx. 52% of total imports in 2022. Malaysia (X cubic meters) held the second position in the ranking, followed by Indonesia (X cubic meters), the Philippines (X cubic meters) and Myanmar (X cubic meters). All these countries together took approx. 44% share of total imports. Cambodia (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to fiberboard imports into Vietnam stood at +4.4%. At the same time, Myanmar (+38.7%), Cambodia (+38.0%), Malaysia (+12.0%) and the Philippines (+8.7%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +38.7% from 2012-2022. By contrast, Indonesia (-1.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia, Myanmar, the Philippines and Cambodia increased by +8, +4.5, +3 and +2.1 percentage points, respectively.

In value terms, Vietnam ($X) constitutes the largest market for imported fiber board of wood or other ligneous materials in ASEAN, comprising 48% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 15% share of total imports. It was followed by the Philippines, with a 13% share.

In Vietnam, fiberboard imports expanded at an average annual rate of +1.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (-1.8% per year) and the Philippines (+6.6% per year).

Import Prices by Country

The import price in ASEAN stood at $X per cubic meter in 2022, declining by -6.2% against the previous year. Over the period under review, the import price saw a pronounced descent. The pace of growth was the most pronounced in 2021 when the import price increased by 10%. The level of import peaked at $X per cubic meter in 2012; however, from 2013 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 Cambodia ($X per cubic meter), while Myanmar ($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 Cambodia (+0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform