Northern America: Hardboard Market 2024

Hardboard Market Size in Northern America

The North American hardboard market was finally on the rise to reach $X in 2022, after four years of decline. Over the period under review, consumption, however, continues to indicate a deep slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Hardboard Production in Northern America

In value terms, hardboard production fell significantly to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2016 when the production volume increased by 296%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Hardboard Exports

Exports in Northern America

In 2022, shipments abroad of hardboard decreased by -10.1% to X cubic meters for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2017 when exports increased by 63%. Over the period under review, the exports reached the peak figure at X cubic meters in 2021, and then declined in the following year.

In value terms, hardboard exports expanded slightly to $X in 2022. Over the period under review, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 53% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

In 2022, the United States (X cubic meters) represented the major exporter of hardboard, achieving 67% of total exports. It was distantly followed by Canada (X cubic meters), committing a 33% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to hardboard exports from the United States stood at +5.3%. At the same time, Canada (+5.8%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +5.8% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the largest hardboard supplying countries in Northern America were Canada ($X) and the United States ($X).

Canada, with a CAGR of +11.7%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per cubic meter, growing by 17% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the export price increased by 20% against the previous year. As a result, the export price attained the peak level of $X per cubic meter. From 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per cubic meter), while the United States stood at $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+5.6%).

Hardboard Imports

Imports in Northern America

In 2022, after two years of growth, there was decline in purchases abroad of hardboard, when their volume decreased by -0.8% to X cubic meters. Over the period under review, imports recorded a mild decline. The growth pace was the most rapid in 2016 with an increase of 52% against the previous year. Over the period under review, imports reached the maximum at X cubic meters in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, hardboard imports soared to $X in 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 33%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States represented the main importing country with an import of about X cubic meters, which resulted at 80% of total imports. It was distantly followed by Canada (X cubic meters), creating a 20% share of total imports.

The United States was also the fastest-growing in terms of the hardboard imports, with a CAGR of +7.9% from 2012 to 2022. Canada (-12.4%) illustrated a downward trend over the same period. While the share of the United States (+47 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Canada (-46.6 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported hardboard in Northern America, comprising 73% of total imports. The second position in the ranking was taken by Canada ($X), with a 27% share of total imports.

In the United States, hardboard imports expanded at an average annual rate of +7.2% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per cubic meter, rising by 18% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the import price increased by 33%. As a result, import price reached the peak level of $X per cubic meter. From 2016 to 2022, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per cubic meter), while the United States amounted to $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+3.2%).

Source: IndexBox Platform

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