Norway: Peat Market 2024

Peat Market Size in Norway

After three years of growth, the Norwegian peat market decreased by X% to $X in 2022. Over the period under review, consumption recorded a abrupt contraction. Peat consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Peat Production in Norway

In value terms, peat production reached $X in 2022 estimated in export price. Overall, production showed a drastic downturn. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

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Peat Exports

Exports from Norway

In 2022, shipments abroad of peat was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports showed a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, peat exports soared to $X in 2022. Overall, exports enjoyed a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden (X tons) was the main destination for peat exports from Norway, with a X% share of total exports. Moreover, peat exports to Sweden exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold. The third position in this ranking was held by the Netherlands (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the Netherlands (X% per year).

In value terms, Sweden ($X), the United States ($X) and Finland ($X) were the largest markets for peat exported from Norway worldwide, with a combined X% share of total exports.

Finland, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 peat export price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price enjoyed tangible growth. The pace of growth was the most pronounced in 2015 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

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

Peat Imports

Imports into Norway

In 2022, overseas purchases of peat decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, peat imports shrank to $X in 2022. Overall, total imports indicated a measured expansion 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, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Sweden (X tons) constituted the largest peat supplier to Norway, with a X% share of total imports. Moreover, peat imports from Sweden exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), tenfold. The third position in this ranking was held by Estonia (X tons), with a X% share.

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

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

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

Import Prices by Country

In 2022, the average peat import price amounted to $X per ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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