IndexBox has just published a new report: ‘World – Hardboard – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The global hardboard market revenue amounted to $5.2B in 2018, picking up by 5.7% 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). Over the period under review, hardboard consumption, however, continues to indicate a measured shrinkage. The most prominent rate of growth was recorded in 2011 with an increase of 17% year-to-year. Global hardboard consumption peaked at $8.5B in 2013; however, from 2014 to 2018, consumption failed to regain its momentum.

Consumption By Country

China (3.3M cubic meters) constituted the country with the largest volume of hardboard consumption, comprising approx. 35% of total consumption. Moreover, hardboard consumption in China exceeded the figures recorded by the world’s second-largest consumer, Germany (1.1M cubic meters), threefold. The third position in this ranking was occupied by Russia (474K cubic meters), with a 5% share.

From 2007 to 2018, the average annual growth rate of volume in China amounted to +8.1%. In the other countries, the average annual rates were as follows: Germany (+3.5% per year) and Russia (-2.8% per year).

In value terms, China ($1.8B) led the market, alone. The second position in the ranking was occupied by Germany ($748M). It was followed by the U.S..

The countries with the highest levels of hardboard per capita consumption in 2018 were Belarus (22 cubic meters per 1000 persons), Belgium (17 cubic meters per 1000 persons) and Germany (13 cubic meters per 1000 persons).

From 2007 to 2018, the most notable rate of growth in terms of hardboard per capita consumption, amongst the main consuming countries, was attained by Malaysia, while the other global leaders experienced more modest paces of growth.

Market Forecast 2019-2025

Driven by rising demand for hardboard worldwide, the market is expected to start an upward consumption trend over the next seven years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +5.5% for the seven-year period from 2018 to 2025, which is projected to bring the market volume to 14M cubic meters by the end of 2025.

Production 2007-2018

In 2018, approx. 9.7M cubic meters of hardboard were produced worldwide; reducing by -3% against the previous year. Over the period under review, hardboard production continues to indicate a measured setback. The most prominent rate of growth was recorded in 2011 when production volume increased by 15% year-to-year. Over the period under review, global hardboard production attained its peak figure volume at 15M cubic meters in 2013; however, from 2014 to 2018, production failed to regain its momentum.

In value terms, hardboard production totaled $5.3B in 2018 estimated in export prices. Overall, hardboard production continues to indicate a significant reduction. The pace of growth appeared the most rapid in 2013 with an increase of 20% y-o-y. In that year, global hardboard production attained its peak level of $8.7B. From 2014 to 2018, global hardboard production growth failed to regain its momentum.

Production By Country

The countries with the highest volumes of hardboard production in 2018 were China (3.5M cubic meters), Germany (2.3M cubic meters) and Russia (418K cubic meters), with a combined 64% share of global production. Ukraine, Poland, Belarus, Brazil, the U.S. and Malaysia lagged somewhat behind, together comprising a further 19%.

From 2007 to 2018, the most notable rate of growth in terms of hardboard production, amongst the main producing countries, was attained by Ukraine, while the other global leaders experienced more modest paces of growth.

Exports 2007-2018

Global exports stood at 4.3M cubic meters in 2018, reducing by -9.4% against the previous year. Over the period under review, hardboard exports continue to indicate a slight descent. The most prominent rate of growth was recorded in 2017 with an increase of 8.5% y-o-y. Global exports peaked at 5M cubic meters in 2007; however, from 2008 to 2018, exports failed to regain their momentum.

In value terms, hardboard exports amounted to $2.5B in 2018. Overall, hardboard exports continue to indicate a moderate slump. The growth pace was the most rapid in 2013 with an increase of 10% y-o-y. Over the period under review, global hardboard exports reached their maximum at $3.2B in 2007; however, from 2008 to 2018, exports remained at a lower figure.

Exports by Country

In 2018, Germany (1.5M cubic meters) was the main exporter of hardboard, generating 36% of total exports. It was distantly followed by Poland (499K cubic meters), France (249K cubic meters), Belgium (232K cubic meters) and China (220K cubic meters), together generating a 28% share of total exports. Belarus (157K cubic meters), Brazil (122K cubic meters), Canada (113K cubic meters), Russia (112K cubic meters), Austria (101K cubic meters), Turkey (97K cubic meters) and Thailand (83K cubic meters) occupied a relatively small share of total exports.

Germany experienced a relatively flat trend pattern of hardboard exports. At the same time, Turkey (+17.3%), Belarus (+17.1%), Thailand (+9.9%) and Poland (+4.1%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest growing exporter in the world, with a CAGR of +17.3% from 2007-2018. Brazil, Austria and Belgium experienced a relatively flat trend pattern. By contrast, China (-6.4%), France (-7.0%), Russia (-8.8%) and Canada (-10.4%) illustrated a downward trend over the same period. Poland (+4.2 p.p.), Belarus (+3 p.p.) and Turkey (+1.8 p.p.) significantly strengthened its position in terms of the global exports, while Germany, Russia, China, Canada and France saw its share reduced by -1.9%, -4.6%, -5.5%, -6.1% and -7.1% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($1.1B) remains the largest hardboard supplier worldwide, comprising 44% of global exports. The second position in the ranking was occupied by Poland ($257M), with a 10% share of global exports. It was followed by France, with a 5.9% share.

From 2007 to 2018, the average annual growth rate of value in Germany totaled -1.1%. In the other countries, the average annual rates were as follows: Poland (+2.7% per year) and France (-6.5% per year).

Export Prices by Country

The average hardboard export price stood at $572 per cubic meter in 2018, rising by 10% against the previous year. Over the period under review, the hardboard export price, however, continues to indicate a mild deduction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 29% y-o-y. Over the period under review, the average export prices for hardboard reached their maximum at $648 per cubic meter in 2007; however, from 2008 to 2018, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Germany ($712 per cubic meter), while Russia ($265 per cubic meter) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Belarus, while the other global leaders experienced more modest paces of growth.

Imports 2007-2018

Global imports amounted to 4.1M cubic meters in 2018, falling by -3.1% against the previous year. In general, hardboard imports continue to indicate a measured contraction. The pace of growth was the most pronounced in 2017 when Imports increased by 15% against the previous year. Over the period under review, global hardboard imports attained their maximum at 5.2M cubic meters in 2007; however, from 2008 to 2018, imports stood at a somewhat lower figure.

In value terms, hardboard imports amounted to $2.1B in 2018. Overall, hardboard imports continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2011 with an increase of 9% against the previous year. Over the period under review, global hardboard imports reached their peak figure at $3.1B in 2007; however, from 2008 to 2018, imports failed to regain their momentum.

Imports by Country

The imports of the twelve major importers of hardboard, namely Belgium, France, Germany, the U.S., Poland, Russia, Romania, the UK, Canada, Italy, Australia and Lithuania, represented more than half of total import.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Lithuania, while the other global leaders experienced more modest paces of growth.

In value terms, France ($164M), Belgium ($141M) and the U.S. ($139M) were the countries with the highest levels of imports in 2018, with a combined 21% share of global imports. These countries were followed by Germany, Poland, Romania, the UK, Russia, Canada, Italy, Australia and Lithuania, which together accounted for a further 32%.

Among the main importing countries, Lithuania recorded the highest rates of growth with regard to imports, over the last eleven years, while the other global leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2018, the average hardboard import price amounted to $509 per cubic meter, picking up by 6.5% against the previous year. Over the period under review, the hardboard import price, however, continues to indicate a mild descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by 6.5% against the previous year. Global import price peaked at $626 per cubic meter in 2008; however, from 2009 to 2018, import prices failed to regain their momentum.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Canada ($647 per cubic meter), while Belgium ($333 per cubic meter) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the UK, while the other global leaders experienced a decline in the import price figures.

Source: IndexBox AI Platform