IndexBox has just published a new report: ‘Asia-Pacific – Hardboard – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.
The revenue of the hardboard market in Asia-Pacific rose to $3.8B in 2018, surging by 6.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Over the period under review, hardboard consumption continues to indicate prominent growth. Over the period under review, the hardboard market hit record highs at $4.5B in 2013; however, from 2014 to 2018, consumption remained at a lower figure.
Exports in Asia-Pacific
In 2018, the amount of hardboard exported in Asia-Pacific amounted to 310K cubic meters, surging by 2.3% against the previous year. Overall, hardboard exports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2010 when exports increased by 8.2% year-to-year. In value terms, hardboard exports rose to $157M (IndexBox estimates) in 2018.
Exports by Country
China represented the major exporting country with an export of about 199K cubic meters, which finished at 64% of total exports. Thailand (70K cubic meters) took a 22% share (based on tonnes) of total exports, which put it in second place, followed by Indonesia (5.9%). Malaysia (5.2K cubic meters) held a minor share of total exports.
From 2007 to 2018, average annual rates of growth with regard to hardboard exports from China stood at -5.8%. At the same time, Indonesia (+20.2%) and Thailand (+9.9%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +20.2% from 2007-2018. By contrast, Malaysia (-20.0%) illustrated a downward trend over the same period. From 2007 to 2018, the share of Thailand and Indonesia increased by +15% and +5.1% percentage points, while Malaysia (-17.8 p.p.) and China (-60.3 p.p.) saw their share reduced.
In value terms, China ($109M) remains the largest hardboard supplier in Asia-Pacific, comprising 70% of total hardboard exports. The second position in the ranking was occupied by Thailand ($26M), with a 17% share of total exports. It was followed by Indonesia, with a 5.1% share.
Export Prices by Country
The hardboard export price in Asia-Pacific stood at $506 per cubic meter in 2018, waning by -5.5% against the previous year. Overall, the hardboard export price continues to indicate a mild downturn. The pace of growth appeared the most rapid in 2008, an increase of 12% against the previous year. Over the period under review, the export prices for hardboard hit record highs at $694 per cubic meter in 2009; however, from 2010 to 2018, export prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major exporting countries. In 2018, major exporting countries recorded the following prices: in China ($548 per cubic meter) and Malaysia ($518 per cubic meter), while Thailand ($376 per cubic meter) and Indonesia ($434 per cubic meter) were amongst the lowest.
From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced a decline in the export price figures.
Imports in Asia-Pacific
In 2018, the imports of hardboard in Asia-Pacific reached 321K cubic meters, going up by 12% against the previous year. The total import volume increased at an average annual rate of +3.2% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The most prominent rate of growth was recorded in 2010 when imports increased by 20% against the previous year. The volume of imports peaked in 2018 and are likely to see gradual growth in the immediate term. In value terms, hardboard imports reached $233M (IndexBox estimates) in 2018.
Imports by Country
The imports of the three major importers of hardboard, namely Australia, China and India, represented more than half of total imports. South Korea (25K cubic meters) took a 7.7% share (based on tonnes) of total imports, which put it in second place, followed by Malaysia (7.2%), Taiwan, Chinese (6.7%) and Viet Nam (6.2%).
From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Viet Nam, while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest hardboard importing markets in Asia-Pacific were China ($55M), Australia ($54M) and India ($30M), with a combined 59% share of total imports.
Among the main importing countries, China experienced the highest growth rate of the value of imports, over the period under review, while imports for the other leaders experienced more modest paces of growth.
Import Prices by Country
The hardboard import price in Asia-Pacific stood at $725 per cubic meter in 2018, approximately mirroring the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2008 an increase of 13% y-o-y. The level of import price peaked at $773 per cubic meter in 2014; however, from 2015 to 2018, import prices failed to regain their momentum.
There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was China ($962 per cubic meter), while India ($575 per cubic meter) was amongst the lowest.
From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Malaysia, while the other leaders experienced more modest paces of growth.
Source: IndexBox AI Platform