Fibreboard market in Southern Asia

Earlier Report Observations

The fibreboard market in Southern Asia expanded from 4 064 thousand m³ in 2018 to a peak of 4 824 thousand m³ in 2022. This growth was interrupted in 2020 when the market volume contracted slightly to 4 170 thousand m³, a dip attributed to the COVID-19 pandemic which caused global factory shutdowns and border lockdowns, disrupting supply chains and reducing imports.

Production rose consistently from 2 931 thousand m³ in 2018 to 4 721 thousand m³ in 2023, while imports fell sharply from over 1 300 thousand m³ to just 262 thousand m³ by 2023. This shift toward domestic supply was reinforced by record global fibre production, which supported local manufacturing. In 2024, regulatory measures in India, including mandatory BIS certification for wood products and anti-dumping duties on certain paperboard imports, alongside the ramp-up of new MDF plants, further strengthened domestic production capacity and reduced import dependence.

By 2023, the market volume stabilized at 4 807 thousand m³, reflecting increased self-sufficiency driven by strong domestic demand from urban population growth and rising incomes, as well as ongoing industry investments.

Production fibreboard in Southern Asia

In kind, 2017-2020, K m³

Top producers of fibreboard, 2017-2020

World map of production of fibreboard, 2017-2020

Fibreboard production in Southern Asia has increased for the third consecutive year. In 2020, the region produced 3 271 K m³ of fibreboard, marking an 8.3% improvement compared to 2019. Over the period from 2017 to 2020, production grew by 39.2%, with a compound annual growth rate of 11.7%.

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

Exports fibreboard from Southern Asia

Exports in kind, K m³

After a two-year decline, fibreboard exports from Southern Asia increased in 2020. Exports reached 176 K m³, representing a sharp gain of 31.6% relative to the prior year. Between 2017 and 2020, exports decreased by 2.3%, equating to an annualized rate of 0.8%. The lowest value was recorded in 2019 at 134 K m³, with the largest decline of 16.8% also occurring in that year.

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

From 2017 to 2020, the largest group of buyers for fibreboard exports from Southern Asia included Iraq (6.8% of exports in kind), the United Arab Emirates (1.8% of exports in kind), and Kuwait (1.1% of exports in kind). However, their combined contribution was limited to 9.7% of total exports in kind, reflecting a diversified country structure.

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

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

Exports in value, M $ US

Fibreboard exports in Southern Asia declined for the second consecutive year. In 2020, exports were recorded at 51.3 M $ US, representing a 15.4% drop relative to the prior year. Between 2017 and 2020, exports decreased by 23.8%, equating to an annualized rate of 8.7%. The highest value was recorded in 2018 at 69.5 M $ US, with the largest increase of 3.2% also occurring in that year.

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

Over the period 2017–2020, the largest but not dominant buyers of fibreboard from Southern Asia in value terms were Iraq (10.7% of exports in value terms), the United Arab Emirates (1.5% of exports in value terms), and Turkmenistan (1.1% of exports in value terms). Together, they accounted for 13.3% of total exports in value terms, against a broad background of smaller partners.

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

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

Imports fibreboard to Southern Asia

Imports in kind, K m³

In 2020, Southern Asia's fibreboard imports came to 1 075 K m³, amounting to a solid loss of 21.5% compared to 2019. Over the period from 2017 to 2020, imports decreased by 52.5%, with a compound annual growth rate of 22.0%. The largest decline was recorded in 2018 at 42.8%, while the largest increase occurred in 2019 at 5.7%.

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

Throughout 2017–2020, the core of imports in kind for fibreboard in Southern Asia was formed by Thailand (38.4% of imports in kind), China (18.8% of imports in kind), and Turkey (16.7% of imports in kind), together accounting for 73.9% of total flows.

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

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

Imports in value, M $ US

After a two-year decline, the volume of fibreboard imports in Southern Asia increased in 2020. Imports amounted to 263.7 M $ US, up by 3.9% year-over-year. Between 2017 and 2020, imports decreased by 51.2%, equating to an annualized rate of 21.3%. The lowest value was recorded in 2019 at 253.7 M $ US, with the largest decline of 42.6% occurring in 2018.

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

In 2017–2020, the leading destinations for imports in value terms of fibreboard to Southern Asia were Thailand (31.7% of imports in value terms), Turkey (23.7% of imports in value terms), and China (14.8% of imports in value terms), which jointly accounted for 70.2% of total flows.

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

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