Updated Feb 4, 2023 13:07

Hardboard Market in Denmark

Market Overview
In , the Danish hardboard market decreased by -% to $ for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, enjoyed strong growth. Over the period under review, the market reached the peak level at $ in , and then declined in the following year.

In value terms, hardboard production soared to $ in estimated in export price. In general, production, however, continues to indicate a deep contraction. The most prominent rate of growth was recorded in when the production volume increased by %. Hardboard production peaked at $ in 2016; however, from 2017 to , production remained at a lower figure.


Consumption
After two years of growth, consumption of hardboard decreased by -% to cubic meters in . Over the period under review, consumption, however, saw resilient growth. Over the period under review, consumption hit record highs at cubic meters in , and then dropped in the following year.

The size of the hardboard market in Denmark shrank to $ in , declining by -% 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). In general, consumption, however, posted a strong increase. Hardboard consumption peaked at $ in , and then reduced in the following year.


Market Forecast
Driven by increasing demand for hardboard in Denmark, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to cubic meters by the end of .

In value terms, the market is forecast to increase 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
Hardboard market in Denmark consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately ( percentage point) over the period under review.


Trade Balance
Denmark remains a net importer of hardboard; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of cubic meters, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.