Serbia: Market for Wood Chips And Particles 2024

Market Size for Wood Chips And Particles in Serbia

In 2022, the Serbian wood chips and particles market increased by 3.1% to $X, rising for the second consecutive year after three years of decline. In general, consumption recorded a deep contraction. Wood chips and particles consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Wood Chips And Particles in Serbia

In value terms, wood chips and particles production soared to $X in 2022 estimated in export price. Over the period under review, production, however, saw buoyant growth. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Wood Chips And Particles

Exports from Serbia

In 2022, the amount of wood chips and particles exported from Serbia fell dramatically to X cubic meters, which is down by -52.2% on the previous year. Overall, exports, however, posted a temperate increase. The pace of growth was the most pronounced in 2018 when exports increased by 379% against the previous year. As a result, the exports attained the peak of X cubic meters. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, wood chips and particles exports dropped markedly to $X in 2022. Over the period under review, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2013 when exports increased by 144% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Bosnia and Herzegovina (X cubic meters) was the main destination for wood chips and particles exports from Serbia, with a 59% share of total exports. Moreover, wood chips and particles exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Montenegro (X cubic meters), twofold. The third position in this ranking was held by North Macedonia (X cubic meters), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Bosnia and Herzegovina totaled +57.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Montenegro (+64.6% per year) and North Macedonia (-28.7% per year).

In value terms, Bosnia and Herzegovina ($X), Montenegro ($X) and North Macedonia ($X) constituted the largest markets for wood chips and particles exported from Serbia worldwide, together accounting for 96% of total exports.

Bosnia and Herzegovina, with a CAGR of +26.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average wood chips and particles export price amounted to $X per cubic meter, with a decrease of -21.5% against the previous year. Over the period under review, the export price showed a abrupt setback. The most prominent rate of growth was recorded in 2019 an increase of 32% against the previous year. The export price peaked at $X per cubic meter in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 Italy ($X per cubic meter), while the average price for exports to Bosnia and Herzegovina ($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 Italy (-0.9%), while the prices for the other major destinations experienced a decline.

Imports of Wood Chips And Particles

Imports into Serbia

After two years of growth, supplies from abroad of wood chips and particles decreased by -32.1% to X cubic meters in 2022. Over the period under review, imports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2017 when imports increased by 2,402%. As a result, imports attained the peak of X cubic meters. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, wood chips and particles imports contracted sharply to $X in 2022. In general, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2017 when imports increased by 555%. Imports peaked at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

In 2022, Bosnia and Herzegovina (X cubic meters) was the main wood chips and particles supplier to Serbia, with a 93% share of total imports. Moreover, wood chips and particles imports from Bosnia and Herzegovina exceeded the figures recorded by the second-largest supplier, Croatia (X cubic meters), more than tenfold. Germany (X cubic meters) ranked third in terms of total imports with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Bosnia and Herzegovina stood at +49.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Croatia (+14.6% per year) and Germany (+37.8% per year).

In value terms, Bosnia and Herzegovina ($X) constituted the largest supplier of wood chips and particles to Serbia, comprising 58% of total imports. The second position in the ranking was held by Germany ($X), with a 19% share of total imports. It was followed by Croatia, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value from Bosnia and Herzegovina amounted to +52.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+39.9% per year) and Croatia (+13.5% per year).

Import Prices by Country

In 2022, the average wood chips and particles import price amounted to $X per cubic meter, picking up by 16% against the previous year. Over the period under review, the import price, however, recorded a slight reduction. The most prominent rate of growth was recorded in 2016 an increase of 137%. As a result, import price attained the peak level of $X per cubic meter. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hungary ($X per cubic meter), while the price for Bosnia and Herzegovina ($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 Hungary (+71.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform