Scandinavia: Wood Pellets Market 2025

Wood Pellets Market Size in Scandinavia

The Scandinavia wood pellets market totaled $X in 2022, remaining stable against the previous year. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Wood Pellets Production in Scandinavia

In value terms, wood pellets production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the production volume increased by 28% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Wood Pellets Exports

Exports in Scandinavia

After two years of growth, overseas shipments of wood pellets decreased by -7.5% to X tons in 2022. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 88%. As a result, the exports reached the peak of X tons, and then dropped in the following year.

In value terms, wood pellets exports soared to $X in 2022. Total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +126.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 64%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

In 2022, Sweden (X tons) represented the key exporter of wood pellets, committing 72% of total exports. It was distantly followed by Norway (X tons), making up a 25% share of total exports. Finland (X tons) followed a long way behind the leaders.

Exports from Sweden increased at an average annual rate of +1.8% from 2012 to 2022. At the same time, Norway (+6.1%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +6.1% from 2012-2022. By contrast, Finland (-16.0%) illustrated a downward trend over the same period. Norway (+10 p.p.) and Sweden (+7 p.p.) significantly strengthened its position in terms of the total exports, while Finland saw its share reduced by -17.1% from 2012 to 2022, respectively.

In value terms, Sweden ($X) remains the largest wood pellets supplier in Scandinavia, comprising 77% of total exports. The second position in the ranking was held by Norway ($X), with a 19% share of total exports.

In Sweden, wood pellets exports increased at an average annual rate of +3.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Norway (+8.4% per year) and Finland (-13.0% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, surging by 32% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Finland ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+3.6%), while the other leaders experienced more modest paces of growth.

Wood Pellets Imports

Imports in Scandinavia

In 2022, the amount of wood pellets imported in Scandinavia rose notably to X tons, growing by 14% against 2021. Over the period under review, imports, however, continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 60% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, wood pellets imports skyrocketed to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 64% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Sweden (X tons) and Finland (X tons) were the major importers of wood pellets in 2022, resulting at near 48% and 38% of total imports, respectively. It was distantly followed by Norway (X tons), making up a 14% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +20.1%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest wood pellets importing markets in Scandinavia were Sweden ($X), Finland ($X) and Norway ($X).

Among the main importing countries, Finland, with a CAGR of +26.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, surging by 44% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Finland ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+5.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform