South-Eastern Asia: Fiberboard Market 2024

Fiberboard Market Size in South-Eastern Asia

In 2022, the Southeast Asian fiberboard market increased by 0.4% to $X, rising for the second consecutive year after three years of decline. In general, consumption, however, saw a pronounced curtailment. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Fiberboard Production in South-Eastern Asia

In value terms, fiberboard production fell to $X in 2022 estimated in export price. Overall, production, however, saw a slight decline. The most prominent rate of growth was recorded in 2017 with an increase of 11% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Fiberboard Exports

Exports in South-Eastern Asia

In 2022, shipments abroad of fiber board of wood or other ligneous materials decreased by -1% to X cubic meters for the first time since 2019, thus ending a two-year rising trend. Total exports indicated a resilient increase 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 pace of growth appeared the most rapid in 2020 with an increase of 27%. The volume of export peaked at X cubic meters in 2021, and then fell in the following year.

In value terms, fiberboard exports expanded modestly 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%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, Thailand (X cubic meters) represented the major exporter of fiber board of wood or other ligneous materials, achieving 75% of total exports. Indonesia (X cubic meters) took an 11% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (10%). Vietnam (X cubic meters) held a minor share of total exports.

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. While the share of Thailand (+19 p.p.) and Indonesia (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (-22.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest fiberboard supplier in South-Eastern Asia, comprising 66% of total exports. The second position in the ranking was taken by Malaysia ($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 South-Eastern Asia amounted to $X per cubic meter, increasing by 5.4% against the previous year. In general, the export price, however, recorded a mild curtailment. The most prominent rate of growth was recorded in 2019 when the export price increased by 26% 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.

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 South-Eastern Asia

In 2022, supplies from abroad of fiber board of wood or other ligneous materials increased by 6.2% to X cubic meters, rising for the third year in a row after two years of decline. Total imports indicated prominent growth 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 when imports increased by 36%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, fiberboard imports fell 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%. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

In 2022, Vietnam (X cubic meters) represented the largest importer of fiber board of wood or other ligneous materials, achieving 52% of total imports. Malaysia (X cubic meters) ranks second in terms of the total imports with a 17% share, followed by Indonesia (12%), the Philippines (10%) and Myanmar (4.8%). Cambodia (X cubic meters) took a relatively small share of total imports.

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 South-Eastern Asia, with a CAGR of +38.7% from 2012-2022. By contrast, Indonesia (-1.6%) illustrated a downward trend over the same period. While the share of Malaysia (+8 p.p.), Myanmar (+4.5 p.p.), the Philippines (+3 p.p.) and Cambodia (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Vietnam (-3.1 p.p.) and Indonesia (-10.7 p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam stood at +1.3%. 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 South-Eastern Asia stood at $X per cubic meter in 2022, which is down by -6.2% against the previous year. Overall, the import price saw a perceptible contraction. The pace of growth appeared the most rapid in 2021 an increase of 10% against the previous year. Over the period under review, import prices hit record highs at $X per cubic meter in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: 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

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