Overview of the Global Market for Wood Residues, Pellets And Other Agglomerates

Market Size for Wood Residues, Pellets And Other Agglomerates

The global market for wood residues, pellets and other agglomerates rose rapidly to $X in 2021, with an increase of 7.9% against the previous year. Over the period under review, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +49.8% against 2014 indices. Global consumption peaked in 2021 and is expected to retain growth in the immediate term.

Production of Wood Residues, Pellets And Other Agglomerates

In value terms, production of wood residues, pellets and other agglomerates contracted modestly to $X in 2021 estimated in export price. In general, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +56.1% against 2016 indices. The pace of growth appeared the most rapid in 2018 with an increase of 22% against the previous year. Over the period under review, global production of attained the peak level at $X in 2020, and then shrank modestly in the following year.

Exports of Wood Residues, Pellets And Other Agglomerates

Exports

For the tenth consecutive year, the global market recorded growth in overseas shipments of wood residues, pellets and other agglomerates, which increased by 0.2% to X cubic meters in 2021. In general, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +8.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +112.3% against 2012 indices. The most prominent rate of growth was recorded in 2013 with an increase of 19%. The global exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, exports of wood residues, pellets and other agglomerates stood at $X in 2021. Overall, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of 31% against the previous year. Over the period under review, the global exports of attained the peak figure in 2021 and are likely to continue growth in the immediate term.

Exports by Country

In 2021, the United States (X cubic meters), distantly followed by Canada (X cubic meters), Vietnam (X cubic meters), Latvia (X cubic meters), Germany (X cubic meters) and Russia (X cubic meters) represented the largest exporters of wood residues, pellets and other agglomerates, together generating 60% of total exports. The following exporters - Estonia (X cubic meters), Belarus (X cubic meters), Austria (X cubic meters), Belgium (X cubic meters), Ukraine (X cubic meters), Sweden (X cubic meters) and Poland (X cubic meters) - together made up 18% of total exports.

From 2012 to 2021, average annual rates of growth with regard to wood residues, pellets and other agglomerates exports from the United States stood at +16.3%. At the same time, Vietnam (+38.5%), Belarus (+18.7%), Latvia (+11.9%), Estonia (+11.3%), Poland (+10.4%), Sweden (+10.1%), Canada (+8.6%), Russia (+8.4%), Ukraine (+7.6%), Belgium (+5.5%), Germany (+4.4%) and Austria (+3.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +38.5% from 2012-2021. While the share of the United States (+9.7 p.p.), Vietnam (+7.3 p.p.), Latvia (+1.8 p.p.) and Belarus (+1.6 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Germany (-3.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest wood residues, pellets and other agglomerates supplier worldwide, comprising 19% of global exports. The second position in the ranking was taken by Canada ($X), with an 8.7% share of global exports. It was followed by Vietnam, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value in the United States totaled +16.0%. In the other countries, the average annual rates were as follows: Canada (+7.3% per year) and Vietnam (+40.6% per year).

Export Prices by Country

In 2021, the average export price for wood residues, pellets and other agglomerates amounted to $X per cubic meter, picking up by 6.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2018 an increase of 11% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Austria ($X per cubic meter), while Belarus ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+7.0%), while the other global leaders experienced more modest paces of growth.

Imports of Wood Residues, Pellets And Other Agglomerates

Imports

In 2021, supplies from abroad of wood residues, pellets and other agglomerates was finally on the rise to reach X cubic meters after two years of decline. In general, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +8.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 19%. Global imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, imports of wood residues, pellets and other agglomerates expanded markedly to $X in 2021. Over the period under review, imports recorded resilient growth. The growth pace was the most rapid in 2018 with an increase of 31%. Global imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

The UK was the key importer of wood residues, pellets and other agglomerates in the world, with the volume of imports reaching X cubic meters, which was near 26% of total imports in 2021. South Korea (X cubic meters) held the second position in the ranking, followed by Denmark (X cubic meters), Japan (X cubic meters), the Netherlands (X cubic meters) and Italy (X cubic meters). All these countries together held approx. 42% share of total imports. Germany (X cubic meters), Austria (X cubic meters), Belgium (X cubic meters), France (X cubic meters), Latvia (X cubic meters) and Sweden (X cubic meters) followed a long way behind the leaders.

Imports into the UK increased at an average annual rate of +22.8% from 2012 to 2021. At the same time, Japan (+49.6%), South Korea (+33.2%), Latvia (+29.2%), France (+11.9%), the Netherlands (+7.7%), Austria (+6.8%), Denmark (+4.8%) and Italy (+3.2%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in the world, with a CAGR of +49.6% from 2012-2021. By contrast, Germany (-1.8%), Belgium (-7.9%) and Sweden (-8.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the UK, South Korea, Japan and Latvia increased by +17, +8.3, +8.2 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the UK ($X) constitutes the largest market for imported wood residues, pellets and other agglomerates worldwide, comprising 29% of global imports. The second position in the ranking was held by the Netherlands ($X), with a 9.4% share of global imports. It was followed by Japan, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the UK amounted to +22.4%. In the other countries, the average annual rates were as follows: the Netherlands (+10.4% per year) and Japan (+40.8% per year).

Import Prices by Country

The average import price for wood residues, pellets and other agglomerates stood at $X per cubic meter in 2021, rising by 3.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2018 an increase of 11% against the previous year. Global import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($X per cubic meter), while Sweden ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+7.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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