India: Hardboard Market 2024

Hardboard Market Size in India

The Indian hardboard market totaled $X in 2022, approximately reflecting the previous year. In general, consumption, however, recorded a perceptible shrinkage. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Hardboard Production in India

In value terms, hardboard production contracted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2019 when the production volume increased by 53% against the previous year. Hardboard production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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Hardboard Exports

Exports from India

In 2022, the amount of hardboard exported from India contracted to X cubic meters, shrinking by -3% against 2021. Overall, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 909%. The exports peaked at X cubic meters in 2021, and then declined modestly in the following year.

In value terms, hardboard exports contracted to $X in 2022. In general, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 1,211% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

South Africa (X cubic meters), Malaysia (X cubic meters) and Somalia (X cubic meters) were the main destinations of hardboard exports from India, together accounting for 48% of total exports. These countries were followed by Nepal, the United Arab Emirates, the United States, Haiti, Fiji, Algeria, Qatar, Saudi Arabia, Estonia and Liberia, which together accounted for a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of +380.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for hardboard exports from India, comprising 29% of total exports. The second position in the ranking was held by Nepal ($X), with a 9.1% share of total exports. It was followed by South Africa, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +90.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (+74.8% per year) and South Africa (+176.5% per year).

Export Prices by Country

In 2022, the average hardboard export price amounted to $X per cubic meter, waning by -2.5% against the previous year. In general, the export price continues to indicate a abrupt decline. The growth pace was the most rapid in 2019 when the average export price increased by 48%. The export price peaked at $X per cubic meter in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per cubic meter), while the average price for exports to South Africa ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Liberia (+35.8%), while the prices for the other major destinations experienced a decline.

Hardboard Imports

Imports into India

In 2022, purchases abroad of hardboard increased by 7.2% to X cubic meters, rising for the second consecutive year after two years of decline. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 31%. As a result, imports reached the peak of X cubic meters. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, hardboard imports rose significantly to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 46%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X cubic meters), Malaysia (X cubic meters) and China (X cubic meters) were the main suppliers of hardboard imports to India, with a combined 74% share of total imports. These countries were followed by Vietnam, Italy, Germany and Slovenia, which together accounted for a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +39.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hardboard suppliers to India were Malaysia ($X), Thailand ($X) and China ($X), with a combined 71% share of total imports. These countries were followed by Vietnam, Germany, Slovenia and Italy, which together accounted for a further 18%.

Among the main suppliers, Vietnam, with a CAGR of +38.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average hardboard import price stood at $X per cubic meter in 2022, growing by 3.4% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 17%. The import price peaked at $X per cubic meter in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Germany ($X per cubic meter), while the price for Italy ($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 China (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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