Northern America: Wood Fuel Market 2024

Wood Fuel Market Size in Northern America

The North American wood fuel market shrank to $X in 2022, falling by -8.1% against the previous year. The total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +9.4% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Wood Fuel Production in Northern America

In value terms, wood fuel production contracted to $X in 2022 estimated in export price. In general, production, however, showed a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 2,914% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Wood Fuel Exports

Exports in Northern America

In 2022, the amount of wood fuel exported in Northern America surged to X cubic meters, growing by 39% against 2021. Over the period under review, exports, however, faced a abrupt decline. The pace of growth appeared the most rapid in 2013 when exports increased by 114%. As a result, the exports reached the peak of X cubic meters. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, wood fuel exports skyrocketed to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 114% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Canada (X cubic meters) was the major exporter of wood fuel, comprising 76% of total exports. It was distantly followed by the United States (X cubic meters), generating a 24% share of total exports.

Canada was also the fastest-growing in terms of the wood fuel exports, with a CAGR of -5.9% from 2012 to 2022. The United States (-27.2%) illustrated a downward trend over the same period. Canada (+56 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -56.4% from 2012 to 2022, respectively.

In value terms, the largest wood fuel supplying countries in Northern America were Canada ($X) and the United States ($X).

Canada, with a CAGR of +11.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per cubic meter, increasing by 32% against the previous year. Over the period under review, the export price continues to indicate significant growth. The most prominent rate of growth was recorded in 2015 an increase of 75% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is likely to continue 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 the United States ($X per cubic meter), while Canada amounted to $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+27.7%).

Wood Fuel Imports

Imports in Northern America

In 2022, imports of wood fuel in Northern America contracted notably to X cubic meters, declining by -55% on 2021. Overall, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 20,775% against the previous year. Over the period under review, imports attained the maximum at X cubic meters in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, wood fuel imports dropped dramatically to $X in 2022. In general, imports, however, saw a slight expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 8,250% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then fell significantly in the following year.

Imports by Country

The United States (X cubic meters) represented roughly 100% of total imports in 2022.

The United States was also the fastest-growing in terms of the wood fuel imports, with a CAGR of -9.6% from 2012 to 2022. From 2012 to 2022, the share of the United States increased by +37 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported wood fuel in Northern America.

From 2012 to 2022, the average annual growth rate of value in the United States stood at +6.9%.

Import Prices by Country

The import price in Northern America stood at $X per cubic meter in 2022, surging by 62% against the previous year. In general, the import price recorded a prominent expansion. The pace of growth appeared the most rapid in 2017 when the import price increased by 388% against the previous year. As a result, import price reached the peak level of $X per cubic meter. From 2018 to 2022, the import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +18.2% per year.

Source: IndexBox Platform

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