Coniferous Wood In The Rough Market

The article highlights the projected upward trend in the market for coniferous wood in the rough, with anticipated growth in consumption volume and market value. Key insights include analysis of top consuming countries such as the United States, Russia, and Canada, as well as production levels and import-export trends. Notable growth rates and fluctuations in prices and volumes are also discussed, providing a comprehensive overview of the global coniferous wood market dynamics.

Market Forecast

Driven by increasing demand for coniferous wood in the rough worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.2% for the period from 2022 to 2030, which is projected to bring the market volume to 1.4B cubic meters by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.1% for the period from 2022 to 2030, which is projected to bring the market value to $279.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Coniferous Wood In The Rough

In 2022, global consumption of coniferous wood in the rough shrank modestly to 1.2B cubic meters, leveling off at 2021 figures. The total consumption volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2016 with an increase of 6.8% against the previous year. Over the period under review, global coniferous wood in rough consumption attained the maximum volume at 1.2B cubic meters in 2018; afterwards, it flattened through to 2022.

The value of the market for coniferous wood in the rough worldwide contracted slightly to $174.8B in 2022, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, the global market hit record highs at $196.4B in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (300M cubic meters), Russia (161M cubic meters) and Canada (116M cubic meters), together accounting for 50% of global consumption. Sweden, Germany, Finland, Brazil, New Zealand, Poland, Chile, China, the Czech Republic and Japan lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by New Zealand (with a CAGR of +12.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Russia ($129.9B) led the market, alone. The second position in the ranking was held by the United States ($12.7B). It was followed by Canada.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia totaled +4.9%. The remaining consuming countries recorded the following average annual rates of market growth: the United States (+1.2% per year) and Canada (-1.9% per year).

The countries with the highest levels of coniferous wood in the rough per capita consumption in 2022 were Finland (8.3 cubic meters per person), New Zealand (6.9 cubic meters per person) and Sweden (6 cubic meters per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by the Czech Republic (with a CAGR of +11.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Coniferous Wood In The Rough

Global coniferous wood in the rough production reduced to 1.2B cubic meters in 2022, approximately mirroring 2021 figures. The total output volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2016 when the production volume increased by 6.4%. Over the period under review, global coniferous wood in rough production attained the peak volume at 1.2B cubic meters in 2018; afterwards, it flattened through to 2022.

In value terms, coniferous wood in the rough production contracted modestly to $44.2B in 2022 estimated in export price. Overall, production showed a noticeable slump. The pace of growth appeared the most rapid in 2018 when the production volume increased by 3,054% against the previous year. As a result, production attained the peak level of $2,002.7B. From 2019 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were the United States (300M cubic meters), Russia (161M cubic meters) and Canada (116M cubic meters), together accounting for 50% of global production. Sweden, Germany, Finland, Brazil, New Zealand, Poland, Chile, China, the Czech Republic and Japan lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +8.1%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Coniferous Wood In The Rough

After five years of decline, supplies from abroad of coniferous wood in the rough increased by 0.7% to 2.2M cubic meters in 2022. In general, imports, however, saw a dramatic descent. The most prominent rate of growth was recorded in 2016 with an increase of 28%. As a result, imports attained the peak of 167M cubic meters. From 2017 to 2022, the growth of global imports remained at a lower figure.

In value terms, coniferous wood in the rough imports expanded modestly to $92M in 2022. Over the period under review, imports, however, recorded a sharp curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by 24%. Over the period under review, global coniferous wood in rough imports attained the maximum at $10.7B in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports By Country

France represented the key importing country with an import of around 1.5M cubic meters, which finished at 68% of total imports. It was distantly followed by Norway (242K cubic meters) and Bangladesh (144K cubic meters), together constituting an 18% share of total imports. The following importers - Hong Kong SAR (49K cubic meters) and Vietnam (41K cubic meters) - each recorded a 4.1% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to coniferous wood in the rough imports into France stood at +1.6%. At the same time, Bangladesh (+14.9%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in the world, with a CAGR of +14.9% from 2012-2022. By contrast, Hong Kong SAR (-3.4%), Vietnam (-12.5%) and Norway (-13.4%) illustrated a downward trend over the same period. While the share of France (+67 p.p.), Norway (+10 p.p.), Bangladesh (+6.7 p.p.), Hong Kong SAR (+2.2 p.p.) and Vietnam (+1.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, France ($47M) constitutes the largest market for imported coniferous wood in the rough worldwide, comprising 51% of global imports. The second position in the ranking was taken by Norway ($10M), with an 11% share of global imports. It was followed by Vietnam, with a 6.9% share.

In France, coniferous wood in the rough imports plunged by an average annual rate of -3.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Norway (-16.3% per year) and Vietnam (-6.8% per year).

Import Prices By Country

In 2022, the average import price for coniferous wood in the rough amounted to $43 per cubic meter, with an increase of 2.9% against the previous year. In general, the import price, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 29% against the previous year. Over the period under review, average import prices attained the peak figure at $74 per cubic meter in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Vietnam ($158 per cubic meter), while France ($32 per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+6.5%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Coniferous Wood In The Rough

In 2022, overseas shipments of coniferous wood in the rough decreased by -4.3% to 10M cubic meters for the first time since 2017, thus ending a four-year rising trend. Over the period under review, exports faced a sharp contraction. The pace of growth was the most pronounced in 2013 with an increase of 29%. As a result, the exports attained the peak of 169M cubic meters. From 2014 to 2022, the growth of the global exports remained at a somewhat lower figure.

In value terms, coniferous wood in the rough exports shrank to $380M in 2022. Overall, exports recorded a significant contraction. The growth pace was the most rapid in 2013 with an increase of 25%. The global exports peaked at $9.1B in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

Belarus (4.8M cubic meters) and France (4.2M cubic meters) prevails in exports structure, together mixing up 86% of total exports. It was distantly followed by Norway (1M cubic meters), generating a 9.6% share of total exports. The following exporters - Lao People's Democratic Republic (234K cubic meters) and Democratic People's Republic of Korea (224K cubic meters) - each reached a 4.4% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Democratic People's Republic of Korea (with a CAGR of +24.7%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest coniferous wood in the rough supplying countries worldwide were Belarus ($110M), Norway ($108M) and France ($99M), with a combined 84% share of global exports. Lao People's Democratic Republic and Democratic People's Republic of Korea lagged somewhat behind, together accounting for a further 15%.

Lao People's Democratic Republic, with a CAGR of +40.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average export price for coniferous wood in the rough stood at $36 per cubic meter in 2022, growing by 2.3% against the previous year. In general, the export price, however, showed a noticeable slump. The pace of growth appeared the most rapid in 2015 an increase of 2.8%. As a result, the export price reached the peak level of $56 per cubic meter. From 2016 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 Lao People's Democratic Republic ($206 per cubic meter), while Belarus ($23 per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (+15.4%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform