Mexico: Hardboard Market 2024

Hardboard Market Size in Mexico

The Mexican hardboard market reduced to $X in 2022, with a decrease of -8.7% against the previous year. In general, consumption enjoyed a noticeable expansion. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Hardboard Production in Mexico

In value terms, hardboard production dropped remarkably to $X in 2022 estimated in export price. Over the period under review, production saw a strong increase. The growth pace was the most rapid in 2018 when the production volume increased by 118% against the previous year. Hardboard production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Hardboard Exports

Exports from Mexico

In 2022, after two years of growth, there was significant decline in overseas shipments of hardboard, when their volume decreased by -83% to X cubic meters. In general, exports saw a significant decline. The pace of growth appeared the most rapid in 2017 with an increase of 900% against the previous year. Over the period under review, the exports reached the maximum at X cubic meters in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, hardboard exports contracted remarkably to $X in 2022. Overall, exports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2017 when exports increased by 742% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X cubic meters) was the main destination for hardboard exports from Mexico, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +27.5%.

In value terms, the United States ($X) emerged as the key foreign market for hardboard exports from Mexico.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +34.1%.

Export Prices by Country

The average hardboard export price stood at $X per cubic meter in 2022, with a decrease of -18.7% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 110% against the previous year. The export price peaked at $X per cubic meter in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for Guatemala amounted to +26.8% per year.

Hardboard Imports

Imports into Mexico

In 2022, approx. X cubic meters of hardboard were imported into Mexico; remaining relatively unchanged against the previous year. In general, imports continue to indicate moderate growth. The pace of growth was the most pronounced in 2021 when imports increased by 92%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, hardboard imports rose modestly to $X in 2022. Overall, imports posted a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 85% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, the United States (X cubic meters) constituted the largest hardboard supplier to Mexico, accounting for a 90% share of total imports. Moreover, hardboard imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X cubic meters), more than tenfold. The third position in this ranking was held by China (X cubic meters), with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-9.7% per year) and China (-10.8% per year).

In value terms, the United States ($X) constituted the largest supplier of hardboard to Mexico, comprising 89% of total imports. The second position in the ranking was held by Germany ($X), with a 4.5% share of total imports. It was followed by China, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +20.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.4% per year) and China (-8.0% per year).

Import Prices by Country

In 2022, the average hardboard import price amounted to $X per cubic meter, standing approx. at the previous year. Overall, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hardboard import price decreased by -33.0% against 2016 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by 41%. Over the period under review, average import prices reached the maximum at $X per cubic meter in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per cubic meter), while the price for Brazil ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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