Croatia: Wood Pellets Market 2024

Wood Pellets Market Size in Croatia

In 2022, the Croatian wood pellets market increased by 40% to $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, showed a significant contraction. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Wood Pellets Production in Croatia

In value terms, wood pellets production stood at $X in 2022 estimated in export price. Overall, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.5% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 40% against the previous year. Wood pellets production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Wood Pellets Exports

Exports from Croatia

In 2022, after seven years of growth, there was decline in shipments abroad of wood pellets, when their volume decreased by -0.9% to X tons. In general, exports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2015 when exports increased by 24% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced slightly in the following year.

In value terms, wood pellets exports skyrocketed to $X in 2022. Overall, exports, however, saw a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons) was the main destination for wood pellets exports from Croatia, accounting for a 75% share of total exports. Moreover, wood pellets exports to Italy exceeded the volume sent to the second major destination, Slovenia (X tons), sixfold. Serbia (X tons) ranked third in terms of total exports with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy totaled +8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+9.3% per year) and Serbia (+72.7% per year).

In value terms, Italy ($X) remains the key foreign market for wood pellets exports from Croatia, comprising 77% of total exports. The second position in the ranking was taken by Slovenia ($X), with a 12% share of total exports. It was followed by Serbia, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value to Italy totaled +13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+15.7% per year) and Serbia (+74.4% per year).

Export Prices by Country

In 2022, the average wood pellets export price amounted to $X per ton, growing by 61% against the previous year. In general, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood pellets export price increased by +63.8% against 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Italy ($X per ton) and Slovenia ($X per ton), while the average price for exports to Serbia ($X per ton) and North Macedonia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Pellets Imports

Imports into Croatia

In 2022, overseas purchases of wood pellets decreased by -36.3% to X tons, falling for the second consecutive year after three years of growth. In general, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 165%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, wood pellets imports dropped to $X in 2022. Over the period under review, imports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 143%. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Bosnia and Herzegovina (X tons), Slovenia (X tons) and Montenegro (X tons) were the main suppliers of wood pellets imports to Croatia, with a combined 68% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of +53.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wood pellets suppliers to Croatia were Slovenia ($X), Bosnia and Herzegovina ($X) and Montenegro ($X), with a combined 70% share of total imports.

Montenegro, with a CAGR of +85.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wood pellets import price stood at $X per ton in 2022, rising by 46% against the previous year. Over the period under review, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood pellets import price increased by +59.9% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Montenegro ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Montenegro (+29.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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