Global Articles Of Peat Market 2024

Articles Of Peat Market Size

The global articles of peat market dropped slightly to $X in 2022, waning by -1.9% against the previous year. Over the period under review, consumption saw a prominent expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the global market failed to regain momentum.

Articles Of Peat Production

In value terms, articles of peat production rose to $X in 2022 estimated in export price. In general, the total production indicated a strong expansion from 2012 to 2022: its value 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, production decreased by -4.5% against 2020 indices. The growth pace was the most rapid in 2016 when the production volume increased by 28% against the previous year. Over the period under review, global production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Articles Of Peat Exports

Exports

For the fourth year in a row, the global market recorded growth in overseas shipments of articles of peat, which increased by 26% to X tons in 2022. Overall, exports posted buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 29%. The global exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, articles of peat exports skyrocketed to $X in 2022. Over the period under review, total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +117.7% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Latvia dominates exports structure, accounting for X tons, which was approx. 52% of total exports in 2022. Canada (X tons) ranks second in terms of the total exports with a 7.7% share, followed by the Czech Republic (7%), Poland (5.6%) and the Netherlands (4.8%). Denmark (X tons), Sweden (X tons), Norway (X tons), China (X tons) and the UK (X tons) followed a long way behind the leaders.

Latvia was also the fastest-growing in terms of the articles of peat exports, with a CAGR of +78.4% from 2012 to 2022. At the same time, China (+61.9%), Sweden (+50.2%), the Netherlands (+45.9%), the UK (+30.7%), Poland (+3.5%) and Canada (+2.0%) displayed positive paces of growth. Norway experienced a relatively flat trend pattern. By contrast, Denmark (-1.3%) and the Czech Republic (-4.0%) illustrated a downward trend over the same period. While the share of Latvia (+51 p.p.), the Netherlands (+4.6 p.p.), Sweden (+3.7 p.p.), China (+3.3 p.p.) and the UK (+1.5 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Poland (-1.9 p.p.), Norway (-3.9 p.p.), Canada (-4.4 p.p.), Denmark (-4.6 p.p.) and the Czech Republic (-13 p.p.) displayed negative dynamics.

In value terms, the UK ($X), Canada ($X) and Denmark ($X) constituted the countries with the highest levels of exports in 2022, with a combined 44% share of global exports. The Netherlands, Norway, the Czech Republic, China, Sweden, Latvia and Poland lagged somewhat behind, together comprising a further 38%.

In terms of the main exporting countries, China, with a CAGR of +68.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average articles of peat export price stood at $X per ton in 2022, rising by 4.5% against the previous year. In general, the export price, however, saw a noticeable curtailment. The pace of growth appeared the most rapid in 2014 when the average export price increased by 15% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while Latvia ($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 UK (+21.1%), while the other global leaders experienced more modest paces of growth.

Articles Of Peat Imports

Imports

In 2022, overseas purchases of articles of peat increased by 8% to X tons, rising for the third consecutive year after two years of decline. Overall, imports, however, saw a pronounced decrease. The growth pace was the most rapid in 2014 with an increase of 22% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of global imports remained at a lower figure.

In value terms, articles of peat imports skyrocketed to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Spain (X tons), distantly followed by the United States (X tons), Germany (X tons), the Czech Republic (X tons) and Canada (X tons) were the largest importers of articles of peat, together making up 67% of total imports. Denmark (X tons), Lithuania (X tons), the UK (X tons), Sweden (X tons) and Austria (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Lithuania (with a CAGR of +29.6%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X) constitutes the largest market for imported articles of peat worldwide, comprising 21% of global imports. The second position in the ranking was held by Canada ($X), with a 6.5% share of global imports. It was followed by the UK, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value in the United States stood at -2.0%. The remaining importing countries recorded the following average annual rates of imports growth: Canada (+11.2% per year) and the UK (+1.4% per year).

Import Prices by Country

The average articles of peat import price stood at $X per ton in 2022, growing by 34% against the previous year. Over the period under review, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, articles of peat import price increased by +57.4% against 2018 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 importing countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while Spain ($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 UK (+29.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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