Asia-Pacific: Insulating Board Market 2023

Insulating Board Market Size in Asia-Pacific

The Asia-Pacific insulating board market reduced slightly to $X in 2022, remaining constant against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Insulating Board Production in Asia-Pacific

In value terms, insulating board production reduced to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 38% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Insulating Board Exports

Exports in Asia-Pacific

In 2022, after three years of decline, there was significant growth in overseas shipments of insulating board, when their volume increased by 16% to X cubic meters. Overall, exports, however, continue to indicate a mild decline. The volume of export peaked at X cubic meters in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, insulating board exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a perceptible reduction. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Thailand (X cubic meters) represented the largest exporter of insulating board, achieving 72% of total exports. Malaysia (X cubic meters) ranks second in terms of the total exports with a 13% share, followed by Pakistan (8.7%) and India (4.7%).

Thailand was also the fastest-growing in terms of the insulating board exports, with a CAGR of +3.2% from 2012 to 2022. At the same time, Pakistan (+2.0%) and India (+1.1%) displayed positive paces of growth. By contrast, Malaysia (-10.7%) illustrated a downward trend over the same period. Thailand (+27 p.p.) and Pakistan (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by -21.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest insulating board supplier in Asia-Pacific, comprising 57% of total exports. The second position in the ranking was held by Malaysia ($X), with a 17% share of total exports. It was followed by Pakistan, with a 13% share.

In Thailand, insulating board exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-13.0% per year) and Pakistan (+1.4% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per cubic meter, rising by 2.7% against the previous year. In general, the export price, however, continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 14%. The level of export peaked at $X per cubic meter in 2014; however, from 2015 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 India ($X per cubic meter), while Thailand ($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 India (+4.5%), while the other leaders experienced a decline in the export price figures.

Insulating Board Imports

Imports in Asia-Pacific

In 2022, overseas purchases of insulating board were finally on the rise to reach X cubic meters for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2018 when imports increased by 16% against the previous year. As a result, imports reached the peak of X cubic meters. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, insulating board imports contracted to $X in 2022. Overall, imports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2014 when imports increased by 25% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Afghanistan (X cubic meters) and the Philippines (X cubic meters) represented roughly 60% of total imports in 2022. Vietnam (X cubic meters) took the next position in the ranking, followed by Indonesia (X cubic meters) and India (X cubic meters). All these countries together took approx. 27% share of total imports. The following importers - Malaysia (X cubic meters) and Australia (X cubic meters) - together made up 5.3% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +50.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Afghanistan ($X) constitutes the largest market for imported insulating board in Asia-Pacific, comprising 36% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 15% share of total imports. It was followed by Vietnam, with a 12% share.

In Afghanistan, insulating board imports increased at an average annual rate of +1.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Philippines (+40.5% per year) and Vietnam (-16.6% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per cubic meter, which is down by -20% against the previous year. In general, the import price showed a slight downturn. The pace of growth appeared the most rapid in 2021 when the import price increased by 27%. As a result, import price reached the peak level of $X per cubic meter, and then declined rapidly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($X per cubic meter), while the Philippines ($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 India (+3.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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