Estonia: Wood Fuel Market 2024

Wood Fuel Market Size in Estonia

The Estonian wood fuel market skyrocketed to $X in 2022, growing by X% against the previous year. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Wood Fuel Production in Estonia

In value terms, wood fuel production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Wood fuel production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Wood Fuel Exports

Exports from Estonia

In 2022, wood fuel exports from Estonia dropped to X cubic meters, with a decrease of X% against the previous year. Over the period under review, total exports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of X cubic meters. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, wood fuel exports skyrocketed to $X in 2022. Overall, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Denmark (X cubic meters) was the main destination for wood fuel exports from Estonia, with a X% share of total exports. Moreover, wood fuel exports to Denmark exceeded the volume sent to the second major destination, Norway (X cubic meters), twofold. Finland (X cubic meters) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Denmark totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (X% per year) and Finland (X% per year).

In value terms, the largest markets for wood fuel exported from Estonia were Norway ($X), Sweden ($X) and Denmark ($X), together comprising X% of total exports. Finland, the United States, the UK, Latvia and Germany lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, the UK, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average wood fuel export price amounted to $X per cubic meter, increasing by X% against the previous year. In general, the export price recorded a remarkable increase. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per cubic meter), while the average price for exports to Denmark ($X per cubic meter) was amongst the lowest.

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

Wood Fuel Imports

Imports into Estonia

In 2022, wood fuel imports into Estonia surged to X cubic meters, jumping by X% on the previous year. Over the period under review, imports enjoyed a prominent expansion. Over the period under review, imports hit record highs at X cubic meters in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, wood fuel imports skyrocketed to $X in 2022. In general, imports saw strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Latvia (X cubic meters) constituted the largest supplier of wood fuel to Estonia, accounting for a X% share of total imports. Moreover, wood fuel imports from Latvia exceeded the figures recorded by the second-largest supplier, Germany (X cubic meters), fourfold. Russia (X cubic meters) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Latvia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Russia (X% per year).

In value terms, Latvia ($X) constituted the largest supplier of wood fuel to Estonia, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by Sweden, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Latvia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Sweden (X% per year).

Import Prices by Country

In 2022, the average wood fuel import price amounted to $X per cubic meter, reducing by X% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood fuel import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per cubic meter, and then declined in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Finland ($X per cubic meter), while the price for Poland ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :