South Africa: Hardboard Market 2024

Hardboard Market Size in South Africa

In 2022, the South African hardboard market decreased by -1.3% to $X, falling for the second consecutive year after two years of growth. Overall, consumption, however, continues to indicate a remarkable increase. Hardboard consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Hardboard Production in South Africa

In value terms, hardboard production declined to $X in 2022 estimated in export price. Over the period under review, production posted a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of 77%. Hardboard production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Hardboard Exports

Exports from South Africa

After three years of decline, overseas shipments of hardboard increased by 23% to X cubic meters in 2022. Overall, exports, however, showed a significant decrease. Over the period under review, the exports reached the maximum at X cubic meters in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, hardboard exports surged to $X in 2022. Over the period under review, exports, however, saw a sharp contraction. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mozambique (X cubic meters), Namibia (X cubic meters) and Zambia (X cubic meters) were the main destinations of hardboard exports from South Africa, together accounting for 59% of total exports. Malawi, Swaziland, Lesotho and Zimbabwe lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Swaziland (with a CAGR of +55.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hardboard exported from South Africa were Swaziland ($X), Mozambique ($X) and Zambia ($X), together accounting for 57% of total exports.

Swaziland, with a CAGR of +68.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hardboard export price stood at $X per cubic meter in 2022, increasing by 14% against the previous year. In general, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hardboard export price increased by +58.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 40% against the previous year. Over the period under review, the average export prices hit record highs at $X per cubic meter in 2014; however, from 2015 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 Swaziland ($X per cubic meter), while the average price for exports to Malawi ($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 Swaziland (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Hardboard Imports

Imports into South Africa

In 2022, overseas purchases of hardboard decreased by -2.9% to X cubic meters, falling for the second year in a row after two years of growth. In general, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -29.6% against 2020 indices. The growth pace was the most rapid in 2014 when imports increased by 58% against the previous year. Imports peaked at X cubic meters in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, hardboard imports declined modestly to $X in 2022. The total import value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when imports increased by 31% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Spain (X cubic meters), Latvia (X cubic meters) and Thailand (X cubic meters) were the main suppliers of hardboard imports to South Africa, together accounting for 44% of total imports. These countries were followed by China, Brazil, Germany, Poland, France, Hungary, Zimbabwe and Malaysia, which together accounted for a further 48%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +93.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Latvia ($X) and Thailand ($X) appeared to be the largest hardboard suppliers to South Africa, together comprising 42% of total imports. Germany, China, Brazil, Hungary, Poland, France, Zimbabwe and Malaysia lagged somewhat behind, together accounting for a further 48%.

In terms of the main suppliers, Hungary, with a CAGR of +106.7%, recorded the highest rates of growth with regard to 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 average hardboard import price amounted to $X per cubic meter, increasing by 1.9% against the previous year. Overall, the import price, however, continues to indicate a pronounced slump. The growth pace was the most rapid in 2018 an increase of 15%. The import price peaked at $X per cubic meter in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per cubic meter), while the price for Brazil ($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 Hungary (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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