Eastern Europe: Wood Fuel Market 2024

Wood Fuel Market Size in Eastern Europe

The East European wood fuel market amounted to $X in 2022, remaining relatively unchanged against the previous year. The total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.9% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Wood Fuel Production in Eastern Europe

In value terms, wood fuel production expanded modestly to $X in 2022 estimated in export price. The total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 -2.7% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 35%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Wood Fuel Exports

Exports in Eastern Europe

In 2022, shipments abroad of wood fuel increased by 8% to X cubic meters, rising for the second consecutive year after six years of decline. Over the period under review, exports, however, saw a pronounced slump. The growth pace was the most rapid in 2021 with an increase of 31%. The volume of export peaked at X cubic meters in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, wood fuel exports skyrocketed to $X in 2022. Total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +116.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 69%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

In 2022, Latvia (X cubic meters) was the key exporter of wood fuel, committing 33% of total exports. Ukraine (X cubic meters) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by Lithuania (11%), Estonia (9.4%), Poland (6.5%), the Czech Republic (6.2%), Russia (5.4%) and Belarus (5%). Hungary (X cubic meters) took a relatively small share of total exports.

Exports from Latvia increased at an average annual rate of +11.8% from 2012 to 2022. At the same time, Belarus (+17.1%), Lithuania (+8.4%), Poland (+4.1%), Estonia (+2.0%) and the Czech Republic (+1.7%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +17.1% from 2012-2022. By contrast, Russia (-3.0%), Ukraine (-11.1%) and Hungary (-11.6%) illustrated a downward trend over the same period. Latvia (+25 p.p.), Lithuania (+7.3 p.p.), Belarus (+4.3 p.p.), Estonia (+3.6 p.p.), Poland (+3.2 p.p.) and the Czech Republic (+2.3 p.p.) significantly strengthened its position in terms of the total exports, while Hungary and Ukraine saw its share reduced by -5.8% and -18.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Latvia ($X) remains the largest wood fuel supplier in Eastern Europe, comprising 36% of total exports. The second position in the ranking was held by Lithuania ($X), with a 16% share of total exports. It was followed by Poland, with a 10% share.

In Latvia, wood fuel exports increased at an average annual rate of +21.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Lithuania (+16.5% per year) and Poland (+12.5% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per cubic meter, jumping by 18% against the previous year. In general, the export price continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2018 when the export price increased by 35% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per cubic meter), while Hungary ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+10.9%), while the other leaders experienced more modest paces of growth.

Wood Fuel Imports

Imports in Eastern Europe

In 2022, the amount of wood fuel imported in Eastern Europe declined to X cubic meters, reducing by -6.3% on the year before. Total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +122.6% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 138%. As a result, imports reached the peak of X cubic meters, and then reduced in the following year.

In value terms, wood fuel imports reached $X in 2022. Over the period under review, imports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2021 when imports increased by 127%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of wood fuel imports in 2022 were Romania (X cubic meters), Slovakia (X cubic meters) and Poland (X cubic meters), together reaching 70% of total import. Lithuania (X cubic meters) held the next position in the ranking, followed by Estonia (X cubic meters) and Latvia (X cubic meters). All these countries together held near 23% share of total imports. Hungary (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +29.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X) constitutes the largest market for imported wood fuel in Eastern Europe, comprising 31% of total imports. The second position in the ranking was held by Slovakia ($X), with a 14% share of total imports. It was followed by Lithuania, with a 13% share.

In Romania, wood fuel imports increased at an average annual rate of +5.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Slovakia (+4.5% per year) and Lithuania (+22.9% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per cubic meter in 2022, growing by 12% against the previous year. In general, the import price posted temperate growth. The pace of growth was the most pronounced in 2018 an increase of 32% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Latvia ($X per cubic meter), while Slovakia ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+12.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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