Finland: Wood Fuel Market 2025

Wood Fuel Market Size in Finland

The Finnish wood fuel market declined slightly to $X in 2022, falling by -4.6% against the previous year. Overall, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.3% 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 -9.9% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Wood Fuel Production in Finland

In value terms, wood fuel production dropped to $X in 2022 estimated in export price. In general, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.4% 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 -18.2% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 61% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Wood Fuel Exports

Exports from Finland

Wood fuel exports from Finland reached X cubic meters in 2022, rising by 4.6% on the previous year's figure. Over the period under review, exports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 97% against the previous year. The exports peaked at X cubic meters in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, wood fuel exports soared to $X in 2022. In general, exports, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 125%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X cubic meters) was the main destination for wood fuel exports from Finland, with a 90% share of total exports. Moreover, wood fuel exports to Sweden exceeded the volume sent to the second major destination, Norway (X cubic meters), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden stood at -6.0%.

In value terms, Sweden ($X) remains the key foreign market for wood fuel exports from Finland, comprising 68% of total exports. The second position in the ranking was taken by Norway ($X), with a 30% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden totaled -6.7%.

Export Prices by Country

The average wood fuel export price stood at $X per cubic meter in 2022, increasing by 11% against the previous year. Over the period under review, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood fuel export price decreased by -22.6% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 56%. As a result, the export price reached the peak level of $X per cubic meter. From 2020 to 2022, the average export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+4.7%).

Wood Fuel Imports

Imports into Finland

For the fifth consecutive year, Finland recorded growth in purchases abroad of wood fuel, which increased by 16% to X cubic meters in 2022. Overall, imports posted a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 363% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, wood fuel imports skyrocketed to $X in 2022. Over the period under review, imports recorded a buoyant expansion. The pace of growth was the most pronounced in 2019 with an increase of 168% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Sweden (X cubic meters), Latvia (X cubic meters) and Russia (X cubic meters) were the main suppliers of wood fuel imports to Finland, with a combined 87% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +42.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Sweden ($X), Latvia ($X) and Estonia ($X) constituted the largest wood fuel suppliers to Finland, together accounting for 87% of total imports.

In terms of the main suppliers, Sweden, with a CAGR of +42.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wood fuel import price stood at $X per cubic meter in 2022, picking up by 3% against the previous year. In general, the import price continues to indicate a prominent expansion. The pace of growth was the most pronounced in 2014 an increase of 67%. The import price peaked at $X per cubic meter in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Estonia ($X per cubic meter), while the price for Russia ($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 Latvia (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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