Updated Feb 4, 2023 11:54

Hardboard Market in Belarus

Market Overview
In , the Belarusian hardboard market increased by % to $ for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, recorded a deep downturn. Hardboard consumption peaked at $ in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.

In value terms, hardboard production shrank to $ in estimated in export price. Over the period under review, production, however, recorded a mild contraction. The pace of growth appeared the most rapid in 2016 with an increase of % against the previous year. Hardboard production peaked at $ in 2007; however, from 2008 to , production failed to regain momentum.


Consumption
In , consumption of hardboard increased by % to cubic meters for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a perceptible downturn. Hardboard consumption peaked at cubic meters in 2007; however, from 2008 to , consumption failed to regain momentum.

The size of the hardboard market in Belarus surged to $ in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed a abrupt slump. Hardboard consumption peaked at $ in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.


Market Forecast
Depressed by shrinking demand for hardboard in Belarus, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to cubic meters by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.


Trade Balance
Belarus remains a net exporter of hardboard; in physical and value terms, exports consistently exceeded imports from 2008 to . In , there was a significant trade surplus of cubic meters, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.