Indonesia: Hardboard Market 2025

Hardboard Market Size in Indonesia

The Indonesian hardboard market declined to $X in 2022, leveling off at the previous year. Over the period under review, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.3% against 2020 indices. Hardboard consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Hardboard Production in Indonesia

In value terms, hardboard production reached $X in 2022 estimated in export price. In general, production saw a buoyant increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by 104% against the previous year. Hardboard production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Hardboard Exports

Exports from Indonesia

In 2022, exports of hardboard from Indonesia declined to X cubic meters, reducing by -6.9% on 2021 figures. Overall, exports continue to indicate a precipitous curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 71%. As a result, the exports attained the peak of X cubic meters. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, hardboard exports contracted to $X in 2022. In general, exports showed a dramatic curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 33% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X cubic meters), Taiwan (Chinese) (X cubic meters) and Thailand (X cubic meters) were the main destinations of hardboard exports from Indonesia, together accounting for 85% of total exports. Vietnam, Australia, Estonia and China lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of 0.0%), while the other leaders experienced a decline.

In value terms, the largest markets for hardboard exported from Indonesia were Australia ($X), Malaysia ($X) and Taiwan (Chinese) ($X), with a combined 75% share of total exports. These countries were followed by Thailand, Vietnam, Jordan, China, Egypt and Estonia, which together accounted for a further 16%.

In terms of the main countries of destination, Estonia, with a CAGR of +9.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average hardboard export price amounted to $X per cubic meter, which is down by -5.9% against the previous year. Overall, export price indicated a strong increase from 2012 to 2022: its price 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, hardboard export price increased by +16.2% against 2020 indices. The most prominent rate of growth was recorded in 2014 an increase of 63% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per cubic meter in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per cubic meter), while the average price for exports to Estonia ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Hardboard Imports

Imports into Indonesia

Hardboard imports into Indonesia contracted slightly to X cubic meters in 2022, waning by -4.5% against 2021 figures. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 90% against the previous year. Imports peaked at X cubic meters in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, hardboard imports surged to $X in 2022. Over the period under review, imports showed a pronounced decline. The pace of growth was the most pronounced in 2021 when imports increased by 88%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Thailand (X cubic meters) constituted the largest hardboard supplier to Indonesia, with a 62% share of total imports. Moreover, hardboard imports from Thailand exceeded the figures recorded by the second-largest supplier, Malaysia (X cubic meters), fivefold. The third position in this ranking was held by China (X cubic meters), with a 9.7% share.

From 2012 to 2022, the average annual growth rate of volume from Thailand stood at +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-0.2% per year) and China (-14.6% per year).

In value terms, Thailand ($X) constituted the largest supplier of hardboard to Indonesia, comprising 46% of total imports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Thailand totaled +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-3.0% per year) and China (-15.1% per year).

Import Prices by Country

In 2022, the average hardboard import price amounted to $X per cubic meter, rising by 23% against the previous year. In general, the import price, however, saw a perceptible setback. Over the period under review, average import prices reached the peak figure at $X per cubic meter in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per cubic meter), while the price for Thailand ($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 Poland (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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