Northern America: Wood Tool Market 2024

Wood Tool Market Size in Northern America

The North American wood tool market reduced to $X in 2021, dropping by -9.1% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Wood Tool Production in Northern America

In value terms, wood tool production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 22% against the previous year. As a result, production reached the peak level of $X, and then reduced in the following year.

Wood Tool Exports

Exports in Northern America

In 2021, overseas shipments of tools of wood increased by 14% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 31%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, wood tool exports soared to $X in 2021. In general, exports, however, showed a abrupt decrease. The pace of growth was the most pronounced in 2015 when exports increased by 38% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

The United States prevails in exports structure, reaching X tons, which was near 91% of total exports in 2021. It was distantly followed by Canada (X tons), committing a 9.2% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to wood tool exports from the United States stood at -12.3%. Canada (-8.3%) illustrated a downward trend over the same period. Canada (+2.8 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -2.8% from 2012 to 2021, respectively.

In value terms, the United States ($X) remains the largest wood tool supplier in Northern America, comprising 92% of total exports. The second position in the ranking was taken by Canada ($X), with an 8.2% share of total exports.

In the United States, wood tool exports shrank by an average annual rate of -5.3% over the period from 2012-2021.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, picking up by 9.3% against the previous year. Export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wood tool export price increased by +98.2% against 2012 indices. The pace of growth was the most pronounced in 2019 when the export price increased by 15%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+8.0%).

Wood Tool Imports

Imports in Northern America

In 2021, overseas purchases of tools of wood increased by 9.2% to X tons for the first time since 2014, thus ending a six-year declining trend. Overall, imports, however, showed a noticeable decline. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, wood tool imports reached $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 13%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

The United States prevails in imports structure, recording X tons, which was approx. 90% of total imports in 2021. It was distantly followed by Canada (X tons), making up a 9.7% share of total imports.

The United States was also the fastest-growing in terms of the tools of wood imports, with a CAGR of -2.7% from 2012 to 2021. Canada (-5.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United States increased by +2.5 percentage points.

In value terms, the United States ($X) constitutes the largest market for imported tools of wood in Northern America, comprising 88% of total imports. The second position in the ranking was held by Canada ($X), with a 12% share of total imports.

In the United States, wood tool imports remained relatively stable over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, stabilizing at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.2%. The pace of growth appeared the most rapid in 2017 an increase of 8.7%. Over the period under review, import prices attained the maximum in 2021 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+5.5%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :