Estonia: Market for Wood Chips And Particles 2024

Market Size for Wood Chips And Particles in Estonia

In 2022, the Estonian wood chips and particles market increased by 80% to $X, rising for the third year in a row after four years of decline. Over the period under review, consumption enjoyed a measured increase. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Production of Wood Chips And Particles in Estonia

In value terms, wood chips and particles production dropped to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2013 when the production volume increased by 49%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Exports of Wood Chips And Particles

Exports from Estonia

In 2022, overseas shipments of wood chips and particles decreased by -8.9% to X cubic meters, falling for the third consecutive year after four years of growth. Overall, exports, however, continue to indicate a tangible expansion. The pace of growth was the most pronounced in 2019 with an increase of 55% against the previous year. As a result, the exports attained the peak of X cubic meters. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wood chips and particles exports surged to $X in 2022. Over the period under review, total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when exports increased by 30%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Finland (X cubic meters) was the main destination for wood chips and particles exports from Estonia, accounting for a 61% share of total exports. Moreover, wood chips and particles exports to Finland exceeded the volume sent to the second major destination, Sweden (X cubic meters), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Finland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+7.0% per year) and Denmark (+51.2% per year).

In value terms, Finland ($X) remains the key foreign market for wood chips and particles exports from Estonia, comprising 55% of total exports. The second position in the ranking was held by Denmark ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Finland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+20.0% per year) and Sweden (+3.0% per year).

Export Prices by Country

The average wood chips and particles export price stood at $X per cubic meter in 2022, picking up by 27% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 28% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per cubic meter in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($X per cubic meter), while the average price for exports to Sweden ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+0.5%), while the prices for the other major destinations experienced a decline.

Imports of Wood Chips And Particles

Imports into Estonia

In 2022, the amount of wood chips and particles imported into Estonia contracted markedly to X cubic meters, declining by -30.9% compared with the year before. In general, imports recorded a abrupt slump. The pace of growth appeared the most rapid in 2019 with an increase of 52%. Over the period under review, imports hit record highs at X cubic meters in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, wood chips and particles imports reached $X in 2022. Overall, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2019 when imports increased by 102%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Russia (X cubic meters) and Latvia (X cubic meters) were the main suppliers of wood chips and particles imports to Estonia.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +7.6%).

In value terms, the largest wood chips and particles suppliers to Estonia were Latvia ($X) and Russia ($X).

Russia, with a CAGR of +0.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

In 2022, the average wood chips and particles import price amounted to $X per cubic meter, increasing by 46% against the previous year. Over the period under review, the import price showed a strong increase. 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 Latvia ($X per cubic meter), while the price for Russia amounted to $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+4.9%).

Source: IndexBox Platform