Updated Feb 4, 2023 11:19

Hardboard Market in Belgium

Market Overview
In , after two years of growth, there was significant decline in the Belgian hardboard market, when its value decreased by -% to $. In general, consumption, however, continues to indicate a significant expansion. Hardboard consumption peaked at $ in , and then contracted in the following year.

In value terms, hardboard production stood at $ in estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of %. Hardboard production peaked at $ in 2016; however, from 2017 to , production remained at a lower figure.

In , hardboard consumption in Belgium shrank rapidly to cubic meters, waning by -% against figures. In general, consumption, however, recorded a significant increase. Hardboard consumption peaked at cubic meters in , and then contracted sharply in the following year.

The revenue of the hardboard market in Belgium fell to $ in , waning 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). Overall, consumption, however, saw significant growth. Over the period under review, the market attained the peak level at $ in , and then reduced in the following year.

Market Forecast
Driven by increasing demand for hardboard in Belgium, the market is expected to continue an upward consumption trend over the next eight years. 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 Belgium remained dependent on supplies from foreign countries. In , the share of imports in total consumption was % in value terms and % in physical terms. 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
Belgium 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.