Sweden: Wood Fuel Market 2024

Wood Fuel Market Size in Sweden

In 2022, the Swedish wood fuel market increased by 0.6% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, saw a noticeable slump. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Wood Fuel Production in Sweden

In value terms, wood fuel production dropped to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2016 with an increase of 67%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Wood Fuel Exports

Exports from Sweden

For the third year in a row, Sweden recorded growth in shipments abroad of wood fuel, which increased by 3.4% to X cubic meters in 2022. In general, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2015 when exports increased by 191% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, wood fuel exports soared to $X in 2022. Over the period under review, exports recorded a prominent expansion. The pace of growth was the most pronounced in 2015 when exports increased by 98%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Norway (X cubic meters), Denmark (X cubic meters) and Finland (X cubic meters) were the main destinations of wood fuel exports from Sweden, with a combined 88% share of total exports. Latvia and Germany lagged somewhat behind, together comprising a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +18.9%), while the other leaders experienced more modest paces of growth.

In value terms, Norway ($X) remains the key foreign market for wood fuel exports from Sweden, comprising 54% of total exports. The second position in the ranking was taken by Denmark ($X), with a 26% share of total exports. It was followed by Finland, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Norway stood at +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+14.0% per year) and Finland (+9.5% per year).

Export Prices by Country

In 2022, the average wood fuel export price amounted to $X per cubic meter, growing by 14% against the previous year. Over the period under review, the export price, however, continues to indicate a slight reduction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 54%. Over the period under review, the average export prices attained the peak figure at $X per cubic meter in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per cubic meter), while the average price for exports to Finland ($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 Norway (+2.1%), while the prices for the other major destinations experienced a decline.

Wood Fuel Imports

Imports into Sweden

In 2022, the amount of wood fuel imported into Sweden surged to X cubic meters, rising by 122% against the year before. In general, imports, however, showed a noticeable reduction. Imports peaked at X cubic meters in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, wood fuel imports soared to $X in 2022. Overall, imports, however, saw a mild contraction. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Norway (X cubic meters) constituted the largest supplier of wood fuel to Sweden, with a 64% share of total imports. Moreover, wood fuel imports from Norway exceeded the figures recorded by the second-largest supplier, Estonia (X cubic meters), fourfold. The third position in this ranking was taken by Latvia (X cubic meters), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Norway was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+9.5% per year) and Latvia (+7.5% per year).

In value terms, Estonia ($X) constituted the largest supplier of wood fuel to Sweden, comprising 55% of total imports. The second position in the ranking was taken by Latvia ($X), with a 19% share of total imports. It was followed by Norway, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Estonia amounted to +17.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+11.7% per year) and Norway (-8.7% per year).

Import Prices by Country

The average wood fuel import price stood at $X per cubic meter in 2022, shrinking by -2.7% against the previous year. Over the period under review, the import price, however, saw a noticeable expansion. The most prominent rate of growth was recorded in 2018 an increase of 122%. As a result, import price reached the peak level of $X per cubic meter. From 2019 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per cubic meter), while the price for Norway ($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 the UK (+24.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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