Latin America and the Caribbean: Hardboard Market 2024

Hardboard Market Size in Latin America and the Caribbean

The Latin American hardboard market fell to $X in 2022, which is down by -10.2% against the previous year. Overall, consumption saw a noticeable slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Hardboard Production in Latin America and the Caribbean

In value terms, hardboard production fell modestly to $X in 2022 estimated in export price. Overall, production, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2018 when the production volume increased by 7.8% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Hardboard Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of hardboard decreased by -10.4% to X cubic meters for the first time since 2019, thus ending a two-year rising trend. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 16%. As a result, the exports attained the peak of X cubic meters. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, hardboard exports declined to $X in 2022. In general, exports showed a mild setback. The pace of growth was the most pronounced in 2021 with an increase of 13% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil was the key exporting country with an export of around X cubic meters, which accounted for 68% of total exports. Chile (X cubic meters) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by Bolivia (7%). Argentina (X cubic meters) followed a long way behind the leaders.

Brazil experienced a relatively flat trend pattern with regard to volume of exports of hardboard. At the same time, Bolivia (+12.8%) displayed positive paces of growth. Moreover, Bolivia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +12.8% from 2012-2022. By contrast, Argentina (-3.3%) and Chile (-3.7%) illustrated a downward trend over the same period. While the share of Bolivia (+5.1 p.p.) and Brazil (+2.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Chile (-7.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest hardboard supplying countries in Latin America and the Caribbean were Brazil ($X), Chile ($X) and Bolivia ($X), with a combined 97% share of total exports.

Bolivia, with a CAGR of +11.9%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per cubic meter, increasing by 4% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 9.2%. The level of export peaked at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per cubic meter), while Brazil ($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 Chile (+1.4%), while the other leaders experienced a decline in the export price figures.

Hardboard Imports

Imports in Latin America and the Caribbean

In 2022, imports of hardboard in Latin America and the Caribbean reduced markedly to X cubic meters, falling by -19.9% compared with the previous year's figure. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 63% against the previous year. As a result, imports reached the peak of X cubic meters, and then shrank sharply in the following year.

In value terms, hardboard imports shrank markedly to $X in 2022. Total imports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.8% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 97% against the previous year. As a result, imports attained the peak of $X, and then dropped rapidly in the following year.

Imports by Country

Chile (X cubic meters) and Mexico (X cubic meters) represented roughly 55% of total imports in 2022. Peru (X cubic meters) ranks next in terms of the total imports with a 9.5% share, followed by Colombia (7.1%) and Guatemala (4.7%). The following importers - the Dominican Republic (X cubic meters), Panama (X cubic meters), Ecuador (X cubic meters), Jamaica (X cubic meters), Haiti (X cubic meters), Costa Rica (X cubic meters), Honduras (X cubic meters) and Paraguay (X cubic meters) - together made up 19% of total imports.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +61.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hardboard importing markets in Latin America and the Caribbean were Mexico ($X), Chile ($X) and Peru ($X), with a combined 71% share of total imports. Guatemala, Colombia, the Dominican Republic, Panama, Ecuador, Costa Rica, Honduras, Jamaica, Paraguay and Haiti lagged somewhat behind, together accounting for a further 24%.

In terms of the main importing countries, Panama, with a CAGR of +60.2%, saw 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

In 2022, the import price in Latin America and the Caribbean amounted to $X per cubic meter, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2021 an increase of 21% against the previous year. As a result, import price attained the peak level of $X per cubic meter, leveling off in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per cubic meter), while Haiti ($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 Mexico (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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