Hardboard Market Overview in Malaysia
Market Overview
For the third consecutive year, the Malaysian hardboard market recorded growth in sales value, which increased by 
% to $ in 2019. Over the period under review, consumption saw a resilient increase. The most prominent rate of growth was recorded in 2009 when the market value increased by % against the previous year. Over the period under review, the market attained the peak level at $ in 2010; however, from 2011 to 2019, consumption stood at a somewhat lower figure.
In value terms, hardboard production totaled $ in 2019 estimated in export prices. Overall, the total production indicated notable growth from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +% against 2016 indices. The pace of growth was the most pronounced in 2009 when the production volume increased by % against the previous year. As a result, production reached the peak level of $. From 2010 to 2019, production growth failed to regain the momentum.
% to $ in 2019. Over the period under review, consumption saw a resilient increase. The most prominent rate of growth was recorded in 2009 when the market value increased by % against the previous year. Over the period under review, the market attained the peak level at $ in 2010; however, from 2011 to 2019, consumption stood at a somewhat lower figure.In value terms, hardboard production totaled $
in 2019 estimated in export prices. Overall, the total production indicated notable growth from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +% against 2016 indices. The pace of growth was the most pronounced in 2009 when the production volume increased by % against the previous year. As a result, production reached the peak level of $. From 2010 to 2019, production growth failed to regain the momentum.Consumption
In 2019, consumption of hardboard increased by % to cubic meters, rising for the third consecutive year after two years of decline. Over the period under review, consumption enjoyed a resilient increase. The pace of growth appeared the most rapid in 2009 with an increase of % year-to-year. Hardboard consumption peaked in 2019 and is expected to retain growth in the near future.
The revenue of the hardboard market in Malaysia stood at $ in 2019, picking up by % 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). In general, consumption enjoyed a buoyant increase. The growth pace was the most rapid in 2009 when the market value increased by % against the previous year. Hardboard consumption peaked at $ in 2010; however, from 2011 to 2019, consumption stood at a somewhat lower figure.
% to cubic meters, rising for the third consecutive year after two years of decline. Over the period under review, consumption enjoyed a resilient increase. The pace of growth appeared the most rapid in 2009 with an increase of % year-to-year. Hardboard consumption peaked in 2019 and is expected to retain growth in the near future.The revenue of the hardboard market in Malaysia stood at $
in 2019, picking up by % 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). In general, consumption enjoyed a buoyant increase. The growth pace was the most rapid in 2009 when the market value increased by % against the previous year. Hardboard consumption peaked at $ in 2010; however, from 2011 to 2019, consumption stood at a somewhat lower figure.Market Forecast
Driven by increasing demand for hardboard in Malaysia, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to cubic meters by the end of .
% for the period from 2019 to , which is projected to bring the market volume to cubic meters by the end of .Market Structure
Over the period under review, the share of imports in terms of total hardboard consumption in Malaysia was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the Malaysia hardboard market is largely supplied by domestic manufacturers.
% figure. In value terms the share of imports also stood at a low figure, which means that the Malaysia hardboard market is largely supplied by domestic manufacturers.Trade Balance
Malaysia remains a net importer of hardboard; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of cubic meters, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
cubic meters, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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