Scandinavia: Market for Wood Residues, Pellets And Other Agglomerates 2024

Market Size for Wood Residues, Pellets And Other Agglomerates in Scandinavia

In 2021, the Scandinavia market for wood residues, pellets and other agglomerates was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Wood Residues, Pellets And Other Agglomerates in Scandinavia

In value terms, production of wood residues, pellets and other agglomerates contracted modestly 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; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 32%. As a result, production reached the peak level of $X. From 2014 to 2021, production of growth remained at a lower figure.

Exports of Wood Residues, Pellets And Other Agglomerates

Exports in Scandinavia

After nine years of growth, shipments abroad of wood residues, pellets and other agglomerates decreased by -13.5% to X cubic meters in 2021. Overall, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2018 when exports increased by 28% against the previous year. Over the period under review, the exports of hit record highs at X cubic meters in 2020, and then reduced in the following year.

In value terms, exports of wood residues, pellets and other agglomerates contracted notably to $X in 2021. In general, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 59% against the previous year. Over the period under review, the exports of hit record highs at $X in 2020, and then declined dramatically in the following year.

Exports by Country

The shipments of the three major exporters of wood residues, pellets and other agglomerates, namely Sweden, Norway and Denmark, represented more than two-thirds of total export.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +24.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X), Sweden ($X) and Norway ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 99% of total exports.

Denmark, with a CAGR of +31.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Scandinavia stood at $X per cubic meter in 2021, with a decrease of -7.4% against the previous year. Export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for wood residues, pellets and other agglomerates increased by +49.0% against 2016 indices. The growth pace was the most rapid in 2018 when the export price increased by 24%. Over the period under review, the export prices attained the peak figure at $X per cubic meter in 2020, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Denmark ($X per cubic meter), while Norway (less than $X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+5.5%), while the other leaders experienced a decline in the export price figures.

Imports of Wood Residues, Pellets And Other Agglomerates

Imports in Scandinavia

In 2021, overseas purchases of wood residues, pellets and other agglomerates were finally on the rise to reach X cubic meters for the first time since 2018, thus ending a two-year declining trend. Total imports indicated modest growth from 2012 to 2021: its volume increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -24.8% against 2018 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 29%. Over the period under review, imports of attained the peak figure at X cubic meters in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, imports of wood residues, pellets and other agglomerates soared to $X in 2021. Total imports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -11.7% against 2018 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 39%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Denmark (X cubic meters) was the largest importer of wood residues, pellets and other agglomerates, making up 74% of total imports. Sweden (X cubic meters) ranks second in terms of the total imports with a 13% share, followed by Norway (7.5%) and Finland (4.9%).

From 2012 to 2021, average annual rates of growth with regard to wood residues, pellets and other agglomerates imports into Denmark stood at +4.8%. At the same time, Norway (+18.0%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +18.0% from 2012-2021. By contrast, Finland (-4.0%) and Sweden (-8.9%) illustrated a downward trend over the same period. While the share of Denmark (+19 p.p.) and Norway (+5.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Finland (-3.1 p.p.) and Sweden (-21.7 p.p.) displayed negative dynamics.

In value terms, Denmark ($X) constitutes the largest market for imported wood residues, pellets and other agglomerates in Scandinavia, comprising 80% of total imports. The second position in the ranking was taken by Sweden ($X), with a 7.8% share of total imports. It was followed by Finland, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value in Denmark amounted to +4.4%. In the other countries, the average annual rates were as follows: Sweden (-10.9% per year) and Finland (+13.2% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per cubic meter in 2021, remaining relatively unchanged against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 16%. Over the period under review, import prices hit record highs in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Finland ($X per cubic meter), while Sweden ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+17.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform