Southern Asia: Hardboard Market 2024

Hardboard Market Size in Southern Asia

The South Asian hardboard market totaled $X in 2022, flattening at the previous year. In general, consumption, however, recorded a perceptible decline. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Hardboard Production in Southern Asia

In value terms, hardboard production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production showed a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of 48%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Hardboard Exports

Exports in Southern Asia

In 2022, overseas shipments of hardboard increased by 9.4% to X cubic meters, rising for the second year in a row after two years of decline. Overall, exports showed a buoyant expansion. The growth pace was the most rapid in 2018 when exports increased by 118% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, hardboard exports shrank modestly to $X in 2022. Over the period under review, exports saw significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 353%. Over the period under review, the exports reached the peak figure at $X in 2021, and then shrank slightly in the following year.

Exports by Country

India was the major exporter of hardboard in Southern Asia, with the volume of exports reaching X cubic meters, which was near 80% of total exports in 2022. It was distantly followed by Sri Lanka (X cubic meters), mixing up a 20% share of total exports.

India was also the fastest-growing in terms of the hardboard exports, with a CAGR of +56.6% from 2012 to 2022. At the same time, Sri Lanka (+5.2%) displayed positive paces of growth. From 2012 to 2022, the share of India increased by +75 percentage points.

In value terms, India ($X) remains the largest hardboard supplier in Southern Asia, comprising 93% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a 7.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to +42.1%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per cubic meter, reducing by -11.3% against the previous year. Over the period under review, the export price, however, showed a prominent increase. The growth pace was the most rapid in 2013 an increase of 131%. Over the period under review, the export prices hit record highs at $X per cubic meter in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

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 India ($X per cubic meter), while Sri Lanka amounted to $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (-1.3%).

Hardboard Imports

Imports in Southern Asia

In 2022, purchases abroad of hardboard increased by 3.8% to X cubic meters, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 28%. As a result, imports reached the peak of X cubic meters. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, hardboard imports expanded remarkably to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 42% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

India prevails in imports structure, finishing at X cubic meters, which was near 88% of total imports in 2022. It was distantly followed by Sri Lanka (X cubic meters), making up a 6.7% share of total imports. Pakistan (X cubic meters) took a minor share of total imports.

India experienced a relatively flat trend pattern with regard to volume of imports of hardboard. Sri Lanka (-1.6%) and Pakistan (-10.7%) illustrated a downward trend over the same period. While the share of India (+5.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Pakistan (-4.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported hardboard in Southern Asia, comprising 86% of total imports. The second position in the ranking was taken by Sri Lanka ($X), with a 6.2% share of total imports.

In India, hardboard imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Sri Lanka (-0.9% per year) and Pakistan (-12.5% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per cubic meter in 2022, growing by 4.4% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 15%. The level of import peaked at $X per cubic meter in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per cubic meter), while Pakistan ($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 Sri Lanka (+0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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