Fibreboard market in Asia

Earlier Report Observations

The Asian fibreboard market expanded from 77.7 thousand m³ in 2018 to over 83.2 thousand m³ in 2019, supported by robust demand from downstream sectors like real estate, wooden furniture, and decoration. State preferential policies encouraging medium and high-density fibreboard production further stimulated industry growth during this period. Although market volume dipped to 79.7 thousand m³ in 2020, it recovered to 81.1 thousand m³ in 2021 as the global economy regained momentum and stricter environmental regulations boosted demand for low-formaldehyde products.

From 2022 onward, the market entered a contraction phase, with volume falling to 73.1 thousand m³ in 2022 and 71.8 thousand m³ in 2023. This decline was driven by overcapacity issues that had emerged earlier, intensified competition from rapidly expanding particleboard production, and a broader downturn in the furniture industry which reduced demand. Simultaneously, rising environmental requirements pushed manufacturers toward low-formaldehyde or formaldehyde-free product lines, altering production dynamics.

In response to these challenges, the industry saw technological breakthroughs such as formaldehyde-free ultra-thin fibreboard and a continued reduction in total production capacity for the fourth consecutive year. Large enterprises increased their market share, reflecting ongoing consolidation aimed at improving efficiency and meeting evolving consumer preferences for greener and more customized materials.

Production fibreboard in Asia

In kind, 2017-2020, K m³

Top producers of fibreboard, 2017-2020

World map of production of fibreboard, 2017-2020

Fibreboard production in Asia grew for the second year in a row. In 2020, Asia produced 80 354 K m³ of fibreboard, which was 0.8% higher than in 2019. Looking at the period from 2017 to 2020, production increased by 4.2%, averaging an annual growth rate of 1.4%. The lowest production level was recorded in 2018 at 76 564 K m³. That year also saw the largest decline, with a drop of 0.7%. In contrast, 2019 experienced the biggest increase, with production rising by 4.2%.

Annual dynamics of production in Asia in kind, 2017-2020, K m³

Exports fibreboard from Asia

Exports in kind, M m³

The market showed significant volatility during these years. From 2017 to 2019, exports fluctuated widely, with the highest point being 2.3 times greater than the lowest. In 2020, fibreboard shipments from Asia to other countries totaled 7.2 M m³, marking a substantial increase of 113.6% compared to 2019. The lowest export volume was recorded in 2019 at 3.4 M m³, which also saw the largest decline of 38.9%.

Annual dynamics of product's exports from Asia in kind, 2017-2020, M m³

Between 2017 and 2020, Asia's fibreboard exports were distributed across numerous markets. The top three destinations—the United States (5.8% of exports in volume), Egypt (4.9%), and Nigeria (4.5%)—together accounted for only 15.2% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Asia in kind, 2017-2020

Exports in value, M $ US

In 2020, Asia exported fibreboard worth 2 389 M US dollars, showing a solid year-over-year increase of 23.0%. However, over the period from 2017 to 2020, exports decreased by 7%, averaging an annual decline of 2.4%. The lowest value was recorded in 2019 at 1 942 M US dollars, while the highest was in 2018 at 2 664 M US dollars. The largest decline occurred in 2019, with a drop of 27.1%.

Annual dynamics of product's exports from Asia in value, 2017-2020, M $ US

From 2017 to 2020, Asia's fibreboard exports in value terms reached a diverse set of markets. The United States (9.3% of exports by value), Nigeria (4.3%), and Canada (3.5%) together made up just 17.2% of total export value. The remaining 82.8% came from many smaller destinations.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Asia in value, 2017-2020

Imports fibreboard to Asia

Imports in kind, M m³

The data indicates irregular changes, reflecting a volatile market environment. Imports peaked in 2017 and hit their lowest point in 2020, with a 19-fold difference between these years. In 2020, fibreboard shipments to Asia from abroad stood at 5.5 M m³, representing an 18.9% decrease compared to 2019. The largest decline was recorded in 2018 at 94.5%, while the largest increase occurred in 2019 with a rise of 16.6%.

Annual dynamics of product's imports to Asia in kind, 2017-2020, M m³

During 2017–2020, Switzerland (59.3% of imports in volume), Spain (1.6%), and Russia (1.4%) remained the primary suppliers of fibreboard to Asia, together accounting for 62.3% of total import volume.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Asia in kind, 2017-2020

Imports in value, M $ US

Fibreboard imports to Asia declined for the third consecutive year. In 2020, imports registered 2 150 M US dollars, showing a 4.9% drop from the previous year. Over the period from 2017 to 2020, imports decreased by 11.4%, averaging an annual decline of 4.0%.

Annual dynamics of product's imports to Asia in value, 2017-2020, M $ US

Between 2017 and 2020, Asia's fibreboard imports in value terms relied on a wide range of partner countries. Russia (9.0% of imports by value), New Zealand (8.4%), and Germany (3.8%) together accounted for just 21.2% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Asia in value, 2017-2020