Africa: Hardboard Market 2024

Hardboard Market Size in Africa

In 2022, the African hardboard market decreased by -5.7% to $X for the first time since 2018, thus ending a three-year rising trend. The total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +9.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +11.4% against 2018 indices. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Hardboard Production in Africa

In value terms, hardboard production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production recorded pronounced growth. The pace of growth appeared the most rapid in 2014 with an increase of 100% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Hardboard Exports

Exports in Africa

In 2022, after three years of decline, there was significant growth in shipments abroad of hardboard, when their volume increased by 26% to X cubic meters. Overall, exports, however, saw a deep slump. The pace of growth appeared the most rapid in 2015 with an increase of 245% against the previous year. As a result, the exports reached the peak of X cubic meters. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, hardboard exports expanded remarkably to $X in 2022. Over the period under review, exports, however, faced a abrupt contraction. The most prominent rate of growth was recorded in 2015 when exports increased by 246%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Zimbabwe (X cubic meters) represented the main exporter of hardboard, mixing up 66% of total exports. It was distantly followed by Kenya (X cubic meters), South Africa (X cubic meters) and Tunisia (X cubic meters), together generating a 30% share of total exports. Tanzania (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to hardboard exports from Zimbabwe stood at +15.9%. At the same time, Tanzania (+83.0%), Kenya (+10.9%) and Tunisia (+8.5%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing exporter exported in Africa, with a CAGR of +83.0% from 2012-2022. By contrast, South Africa (-29.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Zimbabwe, Kenya, Tunisia and Tanzania increased by +60, +15, +4.5 and +3.4 percentage points, respectively.

In value terms, Zimbabwe ($X) remains the largest hardboard supplier in Africa, comprising 49% of total exports. The second position in the ranking was taken by Tunisia ($X), with a 22% share of total exports. It was followed by Kenya, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Zimbabwe totaled +10.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Tunisia (+28.1% per year) and Kenya (+9.9% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per cubic meter, declining by -10.9% against the previous year. Over the period under review, the export price showed a noticeable slump. The most prominent rate of growth was recorded in 2021 when the export price increased by 28% against the previous year. Over the period under review, the export prices attained the peak figure at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Tunisia ($X per cubic meter), while Tanzania ($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 Tunisia (+18.1%), while the other leaders experienced more modest paces of growth.

Hardboard Imports

Imports in Africa

After ten years of growth, supplies from abroad of hardboard decreased by -8.5% to X cubic meters in 2022. Overall, imports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2015 with an increase of 22%. Over the period under review, imports attained the maximum at X cubic meters in 2021, and then reduced in the following year.

In value terms, hardboard imports declined to $X in 2022. Over the period under review, imports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by 25%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

In 2022, South Africa (X cubic meters), distantly followed by Egypt (X cubic meters), Morocco (X cubic meters), Algeria (X cubic meters), Libya (X cubic meters) and Sierra Leone (X cubic meters) represented the largest importers of hardboard, together mixing up 74% of total imports. The following importers - Sudan (X cubic meters), Nigeria (X cubic meters), Tunisia (X cubic meters), Tanzania (X cubic meters), Guinea (X cubic meters) and Zambia (X cubic meters) - together made up 19% of total imports.

From 2012 to 2022, the biggest increases were recorded for Sudan (with a CAGR of +41.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hardboard importing markets in Africa were South Africa ($X), Egypt ($X) and Morocco ($X), together accounting for 59% of total imports. These countries were followed by Algeria, Nigeria, Libya, Sudan, Sierra Leone, Guinea, Tanzania, Zambia and Tunisia, which together accounted for a further 34%.

Sudan, with a CAGR of +49.1%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 Africa amounted to $X per cubic meter, approximately mirroring the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 17% against the previous year. 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.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per cubic meter), while Tunisia ($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 Morocco (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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