Eastern Asia: Insulating Board Market 2024

Insulating Board Market Size in Eastern Asia

The East Asian insulating board market dropped to $X in 2022, falling by -9% against the previous year. In general, consumption showed a mild decrease. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Insulating Board Production in Eastern Asia

In value terms, insulating board production reduced to $X in 2022 estimated in export price. In general, production recorded a mild decline. The pace of growth was the most pronounced in 2016 when the production volume increased by 73%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Insulating Board Exports

Exports in Eastern Asia

In 2022, shipments abroad of insulating board decreased by -18.6% to X cubic meters, falling for the third consecutive year after two years of growth. Overall, exports showed a abrupt decrease. The pace of growth appeared the most rapid in 2016 with an increase of 368% against the previous year. As a result, the exports reached the peak of X cubic meters. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, insulating board exports surged to $X in 2022. In general, exports recorded a noticeable reduction. The growth pace was the most rapid in 2016 with an increase of 432%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China dominates exports structure, reaching X cubic meters, which was near 82% of total exports in 2022. Taiwan (Chinese) (X cubic meters) took a 6.8% share (based on physical terms) of total exports, which put it in second place, followed by Japan (6.7%). Hong Kong SAR (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to insulating board exports from China stood at -9.3%. Japan experienced a relatively flat trend pattern. Hong Kong SAR (-3.4%) and Taiwan (Chinese) (-11.5%) illustrated a downward trend over the same period. While the share of Japan (+4.2 p.p.), Hong Kong SAR (+1.9 p.p.) and China (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-1.6 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest insulating board supplier in Eastern Asia, comprising 88% of total exports. The second position in the ranking was taken by Japan ($X), with a 4.4% share of total exports. It was followed by Taiwan (Chinese), with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at -4.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-6.8% per year) and Taiwan (Chinese) (-7.8% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per cubic meter in 2022, picking up by 56% against the previous year. Export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, insulating board export price increased by +118.4% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 China ($X per cubic meter), while Taiwan (Chinese) ($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 Hong Kong SAR (+6.0%), while the other leaders experienced more modest paces of growth.

Insulating Board Imports

Imports in Eastern Asia

In 2022, approx. X cubic meters of insulating board were imported in Eastern Asia; reducing by -76.2% against the year before. In general, imports recorded a sharp decrease. The pace of growth appeared the most rapid in 2014 with an increase of 39% against the previous year. Over the period under review, imports reached the maximum at X cubic meters in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, insulating board imports shrank sharply to $X in 2022. Overall, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of 47% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

South Korea (X cubic meters) and China (X cubic meters) represented the largest importers of insulating board in 2022, accounting for near 34% and 31% of total imports, respectively. Taiwan (Chinese) (X cubic meters) took the next position in the ranking, followed by Japan (X cubic meters). All these countries together held near 34% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of -5.0%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest insulating board importing markets in Eastern Asia were South Korea ($X), China ($X) and Japan ($X), together comprising 80% of total imports.

Japan, with a CAGR of -5.7%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 Eastern Asia amounted to $X per cubic meter, jumping by 58% against the previous year. Overall, the import price saw prominent growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per cubic meter), while China ($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 Taiwan (Chinese) (+8.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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