Portugal: Wood Pellets Market 2024

Wood Pellets Market Size in Portugal

In 2022, after two years of decline, there was significant growth in the Portuguese wood pellets market, when its value increased by 9.3% to $X. In general, consumption posted buoyant growth. Wood pellets consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Wood Pellets Production in Portugal

In value terms, wood pellets production shrank slightly to $X in 2022 estimated in export price. In general, the total production indicated a pronounced increase 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, production decreased by -11.4% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 44%. Wood pellets production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Wood Pellets Exports

Exports from Portugal

In 2022, shipments abroad of wood pellets was finally on the rise to reach X tons after two years of decline. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 34%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wood pellets exports soared to $X in 2022. Overall, total exports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 44% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The UK (X tons), Denmark (X tons) and Spain (X tons) were the main destinations of wood pellets exports from Portugal, together accounting for 79% of total exports. France, Belgium, Italy and the Netherlands lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +62.3%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Spain ($X) and Denmark ($X) were the largest markets for wood pellets exported from Portugal worldwide, together comprising 76% of total exports. France, Italy, Belgium and the Netherlands lagged somewhat behind, together comprising a further 23%.

France, with a CAGR of +72.7%, recorded 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

The average wood pellets export price stood at $X per ton in 2022, with an increase of 36% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Italy ($X per ton), while the average price for exports to Belgium ($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 France (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Pellets Imports

Imports into Portugal

Wood pellets imports into Portugal skyrocketed to X tons in 2022, increasing by 27% against 2021. In general, imports, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2015 with an increase of 87%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, wood pellets imports surged to $X in 2022. Over the period under review, imports showed mild growth. The most prominent rate of growth was recorded in 2015 when imports increased by 131% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Spain (X tons) constituted the largest wood pellets supplier to Portugal, with a 86% share of total imports. Moreover, wood pellets imports from Spain exceeded the figures recorded by the second-largest supplier, France (X tons), more than tenfold. The third position in this ranking was taken by Brazil (X tons), with a 2.5% share.

From 2012 to 2022, the average annual growth rate of volume from Spain totaled -19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+73.9% per year) and Brazil (+95.7% per year).

In value terms, Spain ($X) constituted the largest supplier of wood pellets to Portugal, comprising 84% of total imports. The second position in the ranking was taken by France ($X), with a 2.6% share of total imports. It was followed by Turkey, with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: France (+51.1% per year) and Turkey (0.0% per year).

Import Prices by Country

The average wood pellets import price stood at $X per ton in 2022, picking up by 73% against the previous year. Overall, the import price recorded a significant increase. The growth pace was the most rapid in 2018 an increase of 103% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+24.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :