Depends on whether or not it's installed correctly and whether or not the backside gets wet. It can warp or mold if the back gets damp, or if it's installed with the incorrect glue; and the coating can peel off if it stays wet.
Masonite paneling is an optional choice for any bathroom with a rough wall or without it because this instrument can be pulped under the steam and in a high pressure.
i actually have that in my bathroom at the moment. so yes of course i think it is a good material for the bathroom. it looks really nice in the bathroom makes it look different.