Roundwood Market

The global roundwood market is projected to see a growth in consumption and market value from 2022 to 2030, driven by increasing demand worldwide. Industrial roundwood dominates both production and imports structure, with steady growth rates observed. Major exporting countries include New Zealand, Belgium, and Uruguay, while China, Austria, and the Netherlands lead in roundwood imports. Average roundwood prices have seen a significant increase in 2022, with prices varying by country of origin. Overall, the market is expected to see continued growth in the near future.

Market Forecast

Driven by increasing demand for roundwood 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 +1.1% for the period from 2022 to 2030, which is projected to bring the market volume to 4.3B cubic meters by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market value to $1,043.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Roundwood

In 2022, approx. 4B cubic meters of roundwood were consumed worldwide; remaining constant against 2021. Overall, consumption, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 4.1% against the previous year. As a result, consumption reached the peak volume of 4B cubic meters; afterwards, it flattened through to 2022.

The global roundwood market value fell to $827.4B in 2022, standing approx. at 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 +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 2018 when the market value increased by 8.9% against the previous year. Global consumption peaked at $831.9B in 2021, and then fell in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (435M cubic meters), China (382M cubic meters) and India (355M cubic meters), with a combined 30% share of global consumption. Brazil, Russia, Canada, Indonesia, Ethiopia, Democratic Republic of the Congo, Sweden, Nigeria, Germany and Finland lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +2.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Indonesia ($311.7B) led the market, alone. The second position in the ranking was held by China ($130.5B). It was followed by the United States.

In Indonesia, the roundwood market expanded at an average annual rate of +3.5% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: China (+0.2% per year) and the United States (+5.5% per year).

The countries with the highest levels of roundwood per capita consumption in 2022 were Finland (12 cubic meters per person), Sweden (7.7 cubic meters per person) and Canada (3.6 cubic meters per person).

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +2.1%), while consumption for the other global leaders experienced more modest paces of growth.

Consumption By Type

Industrial roundwood (2B cubic meters) constituted the product with the largest volume of consumption, comprising approx. 99% of total volume. It was followed by wood fuel (16M cubic meters), with a 0.8% share of total consumption.

For industrial roundwood, consumption expanded at an average annual rate of +1.1% over the period from 2012-2022.

In value terms, industrial roundwood ($532.6B) led the market, alone. The second position in the ranking was held by wood fuel ($1.1B).

From 2012 to 2022, the average annual growth rate of the value of industrial roundwood market stood at +2.3%.

Production

World Production of Roundwood

In 2022, the amount of roundwood produced worldwide contracted slightly to 4B cubic meters, almost unchanged from the year before. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 3.5% against the previous year. As a result, production attained the peak volume of 4B cubic meters; afterwards, it flattened through to 2022.

In value terms, roundwood production declined to $1,343.3B in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 133% against the previous year. As a result, production attained the peak level of $1,396.8B. From 2020 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were the United States (442M cubic meters), India (350M cubic meters) and China (337M cubic meters), together accounting for 28% of global production. Brazil, Russia, Canada, Indonesia, Ethiopia, Democratic Republic of the Congo, Germany, Nigeria, Sweden and Finland lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +1.9%), while production for the other global leaders experienced more modest paces of growth.

Production By Type

Industrial roundwood (2B cubic meters) constituted the product with the largest volume of production, accounting for 99% of total volume. It was followed by wood fuel (16M cubic meters), with a 0.8% share of total production.

From 2012 to 2022, the average annual growth rate of the volume of industrial roundwood production stood at +1.0%.

In value terms, industrial roundwood ($999.6B) led the market, alone. The second position in the ranking was taken by wood fuel ($905M).

From 2012 to 2022, the average annual growth rate of the value of industrial roundwood production totaled +16.9%.

Imports

World Imports of Roundwood

In 2022, the amount of roundwood imported worldwide reduced markedly to 160M cubic meters, waning by -22.7% compared with the year before. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 16% against the previous year. Global imports peaked at 230M cubic meters in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, roundwood imports contracted to $19B in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 35%. Over the period under review, global imports hit record highs at $23.1B in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports By Country

In 2022, China (45M cubic meters) represented the key importer of roundwood, comprising 28% of total imports. Austria (9.5M cubic meters) ranks second in terms of the total imports with a 5.9% share, followed by Belgium (5.3%), Free Zones (5.2%), Sweden (5%) and Japan (4.8%). Italy (6.2M cubic meters), Germany (6.2M cubic meters), the Netherlands (5.9M cubic meters), India (4.6M cubic meters), South Korea (4.3M cubic meters), Finland (3.9M cubic meters) and Poland (3.6M cubic meters) followed a long way behind the leaders.

Imports into China decreased at an average annual rate of -3.1% from 2012 to 2022. At the same time, Belgium (+12.7%), India (+12.0%), the Netherlands (+11.3%), Free Zones (+6.6%) and Italy (+1.3%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing importer imported in the world, with a CAGR of +12.7% from 2012-2022. Poland experienced a relatively flat trend pattern. By contrast, Austria (-3.3%), South Korea (-3.6%), Japan (-4.3%), Sweden (-4.4%), Germany (-4.7%) and Finland (-7.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Belgium, Free Zones, the Netherlands and India increased by +3.9, +2.7, +2.5 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($8.8B) constitutes the largest market for imported roundwood worldwide, comprising 46% of global imports. The second position in the ranking was held by Austria ($904M), with a 4.8% share of global imports. It was followed by Japan, with a 4.7% share.

In China, roundwood imports expanded at an average annual rate of +1.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Austria (+1.2% per year) and Japan (-1.3% per year).

Imports By Type

Industrial roundwood dominates imports structure, recording 150M cubic meters, which was near 94% of total imports in 2022. It was distantly followed by wood fuel (10M cubic meters), creating a 6.3% share of total imports.

Imports of industrial roundwood decreased at an average annual rate of -1.0% from 2012 to 2022. At the same time, wood fuel (+1.1%) displayed positive paces of growth. Moreover, wood fuel emerged as the fastest-growing type imported in the world, with a CAGR of +1.1% from 2012-2022. The shares of the largest types remained relatively stable throughout the analyzed period.

In value terms, industrial roundwood ($18.1B) constitutes the largest type of roundwood imported worldwide, comprising 96% of global imports. The second position in the ranking was taken by wood fuel ($840M), with a 4.4% share of global imports.

For industrial roundwood, imports remained relatively stable over the period from 2012-2022.

Import Prices By Type

The average roundwood import price stood at $119 per cubic meter in 2022, rising by 16% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 27%. Global import price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major imported products. In 2022, the product with the highest price was industrial roundwood ($121 per cubic meter), while the price for wood fuel amounted to $83 per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by wood fuel (+4.1%).

Import Prices By Country

In 2022, the average roundwood import price amounted to $119 per cubic meter, growing by 16% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 27%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($194 per cubic meter), while the Netherlands ($10 per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+8.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Roundwood

In 2022, overseas shipments of roundwood decreased by -22.1% to 177M cubic meters, falling for the second consecutive year after three years of growth. In general, exports recorded a mild descent. The pace of growth appeared the most rapid in 2013 when exports increased by 22% against the previous year. As a result, the exports reached the peak of 254M cubic meters. From 2014 to 2022, the growth of the global exports remained at a lower figure.

In value terms, roundwood exports contracted to $16.1B in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 26%. Over the period under review, the global exports reached the peak figure at $17.6B in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

In 2022, New Zealand (30M cubic meters), distantly followed by Belgium (17M cubic meters), Uruguay (12M cubic meters), Germany (11M cubic meters), the Czech Republic (11M cubic meters), the Netherlands (10M cubic meters) and Norway (8.4M cubic meters) were the largest exporters of roundwood, together committing 56% of total exports. The United States (7.5M cubic meters), Russia (6M cubic meters), France (5.4M cubic meters), Poland (5.4M cubic meters), Latvia (5.2M cubic meters) and Canada (4.7M cubic meters) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the Netherlands (with a CAGR of +24.2%), while the other global leaders experienced more modest paces of growth.

In value terms, New Zealand ($2.2B), the United States ($1.9B) and Germany ($1.2B) were the countries with the highest levels of exports in 2022, with a combined 33% share of global exports. The Czech Republic, Uruguay, Belgium, Latvia, France, Canada, Poland, Russia, Norway and the Netherlands lagged somewhat behind, together accounting for a further 33%.

The Netherlands, with a CAGR of +15.5%, saw the highest growth rate of 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.

Exports By Type

Industrial roundwood prevails in exports structure, finishing at 167M cubic meters, which was near 94% of total exports in 2022. It was distantly followed by wood fuel (11M cubic meters), comprising a 5.9% share of total exports.

Exports of industrial roundwood decreased at an average annual rate of -1.7% from 2012 to 2022. Wood fuel experienced a relatively flat trend pattern. The shares of the largest types remained relatively stable throughout the analyzed period.

In value terms, industrial roundwood ($15.3B) remains the largest type of roundwood supplied worldwide, comprising 95% of global exports. The second position in the ranking was taken by wood fuel ($784M), with a 4.9% share of global exports.

From 2012 to 2022, the average annual rate of growth in terms of the value of industrial roundwood exports was relatively modest.

Export Prices By Type

The average roundwood export price stood at $91 per cubic meter in 2022, rising by 18% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 29%. The global export price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major exported products. In 2022, the product with the highest price was industrial roundwood ($92 per cubic meter), while the average price for exports of wood fuel stood at $74 per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by wood fuel (+6.1%).

Export Prices By Country

In 2022, the average roundwood export price amounted to $91 per cubic meter, jumping by 18% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 29% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($250 per cubic meter), while the Netherlands ($30 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 United States (+15.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform