Slovakia: Wood Pellets Market 2024

Wood Pellets Market Size in Slovakia

In 2022, after two years of growth, there was decline in the Slovak wood pellets market, when its value decreased by -0.3% to $X. In general, consumption posted pronounced growth. Over the period under review, the market hit record highs at $X in 2021, and then fell modestly in the following year.

Wood Pellets Production in Slovakia

In value terms, wood pellets production rose remarkably to $X in 2022 estimated in export price. In general, production enjoyed prominent growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 60% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Wood Pellets Exports

Exports from Slovakia

In 2022, approx. X tons of wood pellets were exported from Slovakia; picking up by 36% against 2021 figures. In general, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2014 with an increase of 56%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, wood pellets exports soared to $X in 2022. Overall, exports showed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons) was the main destination for wood pellets exports from Slovakia, accounting for a 64% share of total exports. Moreover, wood pellets exports to Italy exceeded the volume sent to the second major destination, the Czech Republic (X tons), sevenfold. The third position in this ranking was held by Slovenia (X tons), with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy stood at +22.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+13.7% per year) and Slovenia (+52.2% per year).

In value terms, Italy ($X) remains the key foreign market for wood pellets exports from Slovakia, comprising 71% of total exports. The second position in the ranking was taken by Slovenia ($X), with a 7.1% share of total exports. It was followed by the Czech Republic, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy stood at +26.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+51.6% per year) and the Czech Republic (+8.9% per year).

Export Prices by Country

In 2022, the average wood pellets export price amounted to $X per ton, surging by 19% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to the Czech Republic ($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 Poland (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Pellets Imports

Imports into Slovakia

In 2022, wood pellets imports into Slovakia shrank to X tons, which is down by -12.1% against 2021. In general, imports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2015 with an increase of 68%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, wood pellets imports surged to $X in 2022. Over the period under review, imports, however, saw a prominent increase. The pace of growth was the most pronounced in 2015 with an increase of 80% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest wood pellets supplier to Slovakia, with a 58% share of total imports. Moreover, wood pellets imports from Ukraine exceeded the figures recorded by the second-largest supplier, Russia (X tons), sevenfold. Belarus (X tons) ranked third in terms of total imports with a 6.8% share.

From 2012 to 2022, the average annual growth rate of volume from Ukraine stood at +20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+60.0% per year) and Belarus (+8.6% per year).

In value terms, Ukraine ($X) constituted the largest supplier of wood pellets to Slovakia, comprising 58% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a 7.1% share of total imports. It was followed by Italy, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Ukraine stood at +26.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+31.4% per year) and Italy (+137.6% per year).

Import Prices by Country

In 2022, the average wood pellets import price amounted to $X per ton, increasing by 42% against the previous year. In general, import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood pellets import price increased by +111.1% against 2016 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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