Canada: Wood Tool Market 2024

Wood Tool Market Size in Canada

The Canadian wood tool market shrank to $X in 2021, falling by -10.5% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Wood tool consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Wood Tool Production in Canada

In value terms, wood tool production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by 22% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Wood Tool Exports

Exports from Canada

In 2021, the amount of tools of wood exported from Canada skyrocketed to X tons, rising by 130% compared with 2020. Overall, exports, however, continue to indicate a drastic downturn. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, wood tool exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a noticeable reduction. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for wood tool exports from Canada, accounting for a 92% share of total exports. Moreover, wood tool exports to the United States exceeded the volume sent to the second major destination, India (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -8.4%.

In value terms, the United States ($X) remains the key foreign market for tools of wood exports from Canada, comprising 92% of total exports. The second position in the ranking was taken by India ($X), with a 6.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States totaled -1.5%.

Export Prices by Country

In 2021, the average wood tool export price amounted to $X per ton, growing by 29% against the previous year. In general, export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to India amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+7.5%).

Wood Tool Imports

Imports into Canada

In 2021, imports of tools of wood into Canada reduced to X tons, shrinking by -5.9% against the previous year. Overall, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 101% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, wood tool imports totaled $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 109%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest wood tool supplier to Canada, with a 55% share of total imports. Moreover, wood tool imports from the United States exceeded the figures recorded by the second-largest supplier, Brazil (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-8.6% per year) and China (-10.4% per year).

In value terms, the United States ($X) constituted the largest supplier of tools of wood to Canada, comprising 55% of total imports. The second position in the ranking was held by Brazil ($X), with a 14% share of total imports. It was followed by China, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-3.6% per year) and China (-5.5% per year).

Import Prices by Country

In 2021, the average wood tool import price amounted to $X per ton, increasing by 11% against the previous year. Over the period under review, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wood tool import price increased by +61.7% against 2013 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Japan ($X per ton) and India ($X per ton), while the price for Italy ($X per ton) and Mexico ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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