Finland: Articles Of Peat Market 2024

Articles Of Peat Market Size in Finland

After two years of growth, the Finnish articles of peat market decreased by -2.5% to $X in 2022. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Articles of peat consumption peaked at $X in 2021, and then declined slightly in the following year.

Articles Of Peat Production in Finland

In value terms, articles of peat production declined to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 26%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Articles Of Peat Exports

Exports from Finland

In 2022, shipments abroad of articles of peat decreased by -79.1% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of 840% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, articles of peat exports dropped dramatically to $X in 2022. In general, exports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 331%. As a result, the exports reached the peak of $X, and then contracted markedly in the following year.

Exports by Country

Estonia (X tons) was the main destination for articles of peat exports from Finland, with a 60% share of total exports. Moreover, articles of peat exports to Estonia exceeded the volume sent to the second major destination, Latvia (X kg), fourfold. The third position in this ranking was taken by Sweden (X kg), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Estonia stood at +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+19.6% per year) and Sweden (+11.3% per year).

In value terms, Iceland ($X), Estonia ($X) and Sweden ($X) appeared to be the largest markets for articles of peat exported from Finland worldwide, with a combined 79% share of total exports. Latvia, Switzerland, Norway and Lithuania lagged somewhat behind, together comprising a further 20%.

Latvia, with a CAGR of +26.4%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average articles of peat export price amounted to $X per ton, rising by 97% against the previous year. In general, the export price posted strong growth. The most prominent rate of growth was recorded in 2017 an increase of 181% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iceland ($X per ton), while the average price for exports to Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iceland (+3,019.0%), while the prices for the other major destinations experienced more modest paces of growth.

Articles Of Peat Imports

Imports into Finland

Articles of peat imports into Finland reduced dramatically to X tons in 2022, declining by -60.7% on the previous year's figure. Over the period under review, imports continue to indicate a abrupt setback. The growth pace was the most rapid in 2014 with an increase of 176% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, articles of peat imports fell markedly to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 87%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Estonia (X tons) constituted the largest supplier of articles of peat to Finland, with a 78% share of total imports. Moreover, articles of peat imports from Estonia exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), eightfold. The third position in this ranking was held by Sweden (X tons), with a 5.3% share.

From 2012 to 2022, the average annual growth rate of volume from Estonia totaled -14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+15.3% per year) and Sweden (-7.3% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of articles of peat to Finland, comprising 51% of total imports. The second position in the ranking was held by China ($X), with a 10% share of total imports. It was followed by Denmark, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands totaled +17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.7% per year) and Denmark (+16.7% per year).

Import Prices by Country

The average articles of peat import price stood at $X per ton in 2022, increasing by 116% against the previous year. Overall, the import price posted a remarkable increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :