U.S.: Wood Pellets Market 2024

Wood Pellets Market Size in the U.S.

The U.S. wood pellets market shrank markedly to $X in 2022, which is down by -17.4% against the previous year. Overall, consumption showed a pronounced curtailment. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Wood Pellets Production in the U.S.

In value terms, wood pellets production declined modestly to $X in 2022. Over the period under review, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +9.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 28%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Wood Pellets Exports

Exports from the U.S.

In 2022, approx. X tons of wood pellets were exported from the United States; increasing by 21% compared with the year before. Over the period under review, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 52%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, wood pellets exports skyrocketed to $X in 2022. Overall, exports saw a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X tons) was the main destination for wood pellets exports from the United States, accounting for a 59% share of total exports. Moreover, wood pellets exports to the UK exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. Japan (X tons) ranked third in terms of total exports with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume to the UK stood at +23.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+13.8% per year) and Japan (+133.0% per year).

In value terms, the UK ($X) remains the key foreign market for wood pellets exports from the United States, comprising 61% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 19% share of total exports. It was followed by Japan, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK stood at +24.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+16.4% per year) and Japan (+116.8% per year).

Export Prices by Country

In 2022, the average wood pellets export price amounted to $X per ton, growing by 22% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the UK ($X per ton) and Japan ($X per ton), while the average price for exports to Belgium ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Pellets Imports

Imports into the U.S.

In 2022, supplies from abroad of wood pellets decreased by -0.8% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +8.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -12.1% against 2018 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 76% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, wood pellets imports rose remarkably to $X in 2022. Overall, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +9.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +11.1% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 70%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Canada (X tons) was the main wood pellets supplier to the United States, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Canada totaled +8.4%.

In value terms, Canada ($X) constituted the largest supplier of wood pellets to the United States.

From 2012 to 2022, the average annual rate of growth in terms of value from Canada amounted to +9.7%.

Import Prices by Country

In 2022, the average wood pellets import price amounted to $X per ton, increasing by 9.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Canada.

From 2012 to 2022, the rate of growth in terms of prices for Canada amounted to +1.3% per year.

Source: IndexBox Platform

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