U.S. - Hardboard - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact
U.S. Hardboard Market Illustrates a Negative Dynamic
IndexBox has just published a new report "U.S.: Hardboard – Market Report. Analysis And Forecast To 2025". Here is a summary of the report’s key findings.
Despite a Period of Growth over the Past Two Years, Hardboard Consumption Is to Remain X% Lower than the Figures Recorded Pre-crisis
In 2016, the market volume with regard to hardboard stood at X thousand cubic meters. From 2007 to 2014, the U.S. hardboard market indicated a downwards trend, except for a short-term growth from 2012-2013. It was followed by a recovery over the 2015-2016 period. According to IndexBox estimates, by 2016 the market volume with regard to hardboard had failed to regain the figures seen pre-crisis, remaining X% lower than the level of consumption recorded in 2007.
An Ongoing Expansion of Construction Industry Will Generate Increased Hardboard Consumption
The sharp fall in hardboard consumption since 2007 is mainly due to the crisis being seen in the US economy and on the real estate property market. The recovery in hardboard consumption as of 2015 can be linked to the revival in the real estate market, against economic growth, improved employment figures, higher disposable household incomes and low mortage rates. Factors such as the influx of migrants, and an increase in the number of young people living away from home, or the fact that more people are now choosing to relocate to the suburbs, will all promote high rates of growth in terms of the housing market, which, in turn, will drive an increase in hardboard consumption.
Driven by the current economic recovery in the USA and housing expansion, the hardboard market as a whole is expected to begin an upward consumption trend over the next nine years.
Market performance is forecast to grow with an anticipated CAGR of +X% from 2016 to 2025, which is expected to lead the market volume to X million cubic meters by the end of 2025.
Hardboard Production Is Now Significantly Lower than that Recorded Pre-crisis
U.S. hardboard manufacturing illustrated a negative dynamic over the last few years. In 2016, the value of shipments in the industry decreased to X thousand cubic meters, falling with a CAGR of -X% from 2007 to 2016. In 2016, hardboard production was X% below the pre-recession level and is not set to recover fully over the projected period.
Reliance on Imports Decreased on the Backdrop of the Rapidly Declining Imports
The share of imports decreased from X% in 2007, to X% in 2011. This reduction in the market’s dependence on imports can be linked to higher import prices, and the fact that the decline of imports was more pronounced that that of domestic production.
Canada Remains a Key Export Destination with Regard to Hardboard
The U.S. exported X thousand cubic meters of hardboard in 2016, which accounted for X% of U.S. hardboard output. In 2016, the main destinations for U.S. hardboard exports were Canada (X%), followed by Mexico (X%), lagging somewhat behind, the U.K. (X%), and Australia (X%). Australia (+X% per year) was the fastest growing export destination; the U.K. (+X%) experienced a more moderate dynamic, while Mexico and Canada fell at an average rate of -X% and -X%, respectively, over the last nine years.
The share exported to Australia (+X percentage points), and the U.K. (+X percentage points) increased, while the share sent to Canada illustrated a negative dynamic (-X points).
Brazil is Now a Major Supplier of Hardboard, overtaking Canada in terms of Hardboard Imports
The volume of total U.S. hardboard imports totaled X thousand cubic meters in 2016, falling at an average annual rate of -X% over the period under review.
Brazil (X%, based on cubic meters) and Canada (X%) were the main suppliers of hardboard into the U.S., with a combined share of X% of total U.S. imports in 2016. China assumed third position, with a share of X%, followed by Belgium (X%), and Germany (X%).
Brazil (+X% per year) was the only single supplier of hardboard to record a positive imports dynamic amongst the main leaders from 2007 to 2016. Brazil (+X percentage points) and Canada (+X percentage points) significantly strengthened their positions in U.S. imports over the period under review. By contrast, Germany (-X percentage points), China (-X percentage points), and Belgium (-X percentage points) saw their share reduced.
Do you want to know more about the U.S. hardboard market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- hardboard market share
- hardboard prices
- hardboard production
- hardboard industry
- hardboard sales
- hardboard imports
- hardboard exports
- hardboard market forecast
- hardboard price forecast
Source: IndexBox AI Platform
This report provides an in-depth analysis of the hardboard market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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