Asia: Hardboard Market 2024

Hardboard Market Size in Asia

The Asian hardboard market stood at $X in 2022, approximately mirroring the previous year. Over the period under review, consumption recorded a abrupt curtailment. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Hardboard Production in Asia

In value terms, hardboard production rose to $X in 2022 estimated in export price. In general, production showed a abrupt setback. The growth pace was the most rapid in 2013 with an increase of 17%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Hardboard Exports

Exports in Asia

In 2022, overseas shipments of hardboard decreased by -3.4% to X cubic meters for the first time since 2016, thus ending a five-year rising trend. Over the period under review, exports, however, saw a notable expansion. The growth pace was the most rapid in 2021 with an increase of 29%. As a result, the exports attained the peak of X cubic meters, and then reduced modestly in the following year.

In value terms, hardboard exports rose significantly to $X in 2022. Overall, exports, however, posted a moderate increase. The growth pace was the most rapid in 2021 when exports increased by 42% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Turkey represented the major exporting country with an export of around X cubic meters, which accounted for 55% of total exports. It was distantly followed by China (X cubic meters), Thailand (X cubic meters) and Malaysia (X cubic meters), together creating a 42% share of total exports.

Exports from Turkey increased at an average annual rate of +18.1% from 2012 to 2022. At the same time, Malaysia (+18.3%) and Thailand (+7.3%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +18.3% from 2012-2022. By contrast, China (-6.1%) illustrated a downward trend over the same period. While the share of Turkey (+38 p.p.), Malaysia (+5.6 p.p.) and Thailand (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-44.4 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest hardboard supplier in Asia, comprising 58% of total exports. The second position in the ranking was taken by China ($X), with a 25% share of total exports. It was followed by Thailand, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to +19.2%. The remaining exporting countries recorded the following average annual rates of exports growth: China (-5.9% per year) and Thailand (+4.9% per year).

Export Prices by Country

The export price in Asia stood at $X per cubic meter in 2022, increasing by 13% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the export prices reached the peak figure at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per cubic meter), while Thailand ($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 Turkey (+0.9%), while the other leaders experienced mixed trends in the export price figures.

Hardboard Imports

Imports in Asia

In 2022, approx. X cubic meters of hardboard were imported in Asia; dropping by -3.1% compared with 2021. In general, imports saw a pronounced setback. The pace of growth was the most pronounced in 2021 when imports increased by 22%. The volume of import peaked at X cubic meters in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, hardboard imports dropped slightly to $X in 2022. Overall, imports recorded a perceptible reduction. The pace of growth was the most pronounced in 2021 when imports increased by 44% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Kazakhstan (X cubic meters), India (X cubic meters), Uzbekistan (X cubic meters), Turkey (X cubic meters), Jordan (X cubic meters), Vietnam (X cubic meters), China (X cubic meters), South Korea (X cubic meters), Azerbaijan (X cubic meters), Georgia (X cubic meters), Israel (X cubic meters) and Malaysia (X cubic meters) was the major importer of hardboard in Asia, generating 70% of total import. Taiwan (Chinese) (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +18.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Uzbekistan ($X), Jordan ($X) and India ($X) were the countries with the highest levels of imports in 2022, together comprising 24% of total imports.

Uzbekistan, with a CAGR of +16.2%, recorded the highest growth rate of 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

In 2022, the import price in Asia amounted to $X per cubic meter, growing by 1.9% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 18% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per cubic meter), while Malaysia ($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 Azerbaijan (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :