Russian Federation: Wood Fuel Market 2024

Wood Fuel Market Size in the Russian Federation

The Russian wood fuel market contracted modestly to $X in 2022, reducing by -3.8% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Wood Fuel Production in the Russian Federation

In value terms, wood fuel production dropped to $X in 2022 estimated in export price. Overall, the total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.8% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 32%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Wood Fuel Exports

Exports from the Russian Federation

In 2022, wood fuel exports from Russia dropped to X cubic meters, shrinking by -6.3% compared with 2021. In general, exports continue to indicate a noticeable descent. The pace of growth appeared the most rapid in 2019 when exports increased by 146% against the previous year. As a result, the exports reached the peak of X cubic meters. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, wood fuel exports shrank rapidly to $X in 2022. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 114%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Norway (X cubic meters), Finland (X cubic meters) and Latvia (X cubic meters) were the main destinations of wood fuel exports from Russia, together comprising 45% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Latvia (with a CAGR of +73.6%), while the other leaders experienced more modest paces of growth.

In value terms, Norway ($X), Finland ($X) and Latvia ($X) appeared to be the largest markets for wood fuel exported from Russia worldwide, with a combined 45% share of total exports.

In terms of the main countries of destination, Latvia, with a CAGR of +79.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wood fuel export price stood at $X per cubic meter in 2022, waning by -10.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The growth pace was the most rapid in 2021 when the average export price increased by 26% against the previous year. As a result, the export price reached the peak level of $X per cubic meter, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+12.5%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Fuel Imports

Imports into the Russian Federation

In 2022, approx. X cubic meters of wood fuel were imported into Russia; which is down by -60.9% on 2021. In general, imports showed a sharp shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 373% against the previous year. As a result, imports attained the peak of X cubic meters. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, wood fuel imports reduced sharply to $X in 2022. Over the period under review, imports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 350%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Italy (X cubic meters) constituted the largest wood fuel supplier to Russia, with a 29% share of total imports. Moreover, wood fuel imports from Italy exceeded the figures recorded by the second-largest supplier, Kazakhstan (X cubic meters), fourfold. Hungary (X cubic meters) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2022, the average annual growth rate of volume from Italy amounted to +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (+14.5% per year) and Hungary (0.0% per year).

In value terms, Italy ($X) constituted the largest supplier of wood fuel to Russia, comprising 47% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a 5.6% share of total imports. It was followed by Finland, with a 0.2% share.

From 2012 to 2022, the average annual growth rate of value from Italy totaled -4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (-27.6% per year) and Finland (-33.8% per year).

Import Prices by Country

The average wood fuel import price stood at $X per cubic meter in 2022, increasing by 72% against the previous year. Over the period under review, the import price enjoyed strong growth. The pace of growth was the most pronounced in 2017 when the average import price increased by 175%. As a result, import price reached the peak level of $X per cubic meter. From 2018 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per cubic meter), while the price for Hungary ($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 France (+41.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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