Scandinavia: Wood Barrel Market 2022

Wood Barrel Market Size in Scandinavia

For the third consecutive year, the Scandinavia wood barrel market recorded decline in sales value, which decreased by -0.3% to $X in 2021. Overall, consumption, however, recorded a abrupt descent. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Wood Barrel Production in Scandinavia

In value terms, wood barrel production contracted significantly to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 52% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Wood Barrel Exports

Exports in Scandinavia

In 2021, after two years of decline, there was significant growth in shipments abroad of casks, barrels, vats, tubs, and coopers products of wood, when their volume increased by 231% to X units. In general, exports, however, recorded a perceptible setback. The volume of export peaked at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, wood barrel exports soared to $X in 2021. Over the period under review, exports enjoyed a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Norway (X units) represented the main exporter of casks, barrels, vats, tubs, and coopers products of wood, comprising 82% of total exports. Denmark (X units) ranks second in terms of the total exports with an 11% share, followed by Finland (5.8%). Sweden (X units) followed a long way behind the leaders.

Norway was also the fastest-growing in terms of the casks, barrels, vats, tubs, and coopers products of wood exports, with a CAGR of +33.0% from 2012 to 2021. Denmark (-9.1%), Sweden (-24.8%) and Finland (-25.1%) illustrated a downward trend over the same period. Norway (+77 p.p.) significantly strengthened its position in terms of the total exports, while Denmark, Sweden and Finland saw its share reduced by -8.9%, -13.7% and -54.3% from 2012 to 2021, respectively.

In value terms, Finland ($X) remains the largest wood barrel supplier in Scandinavia, comprising 66% of total exports. The second position in the ranking was taken by Sweden ($X), with an 18% share of total exports. It was followed by Denmark, with an 11% share.

In Finland, wood barrel exports increased at an average annual rate of +8.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Sweden (+16.5% per year) and Denmark (+6.6% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2021, falling by -52.3% against the previous year. Over the period under review, the export price, however, saw a resilient increase. The most prominent rate of growth was recorded in 2019 an increase of 215% against the previous year. The level of export peaked at $X per unit in 2020, and then plummeted in the following year.

Prices varied noticeably country of origin: the country with the highest price was Sweden ($X per unit), while Norway ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+54.8%), while the other leaders experienced more modest paces of growth.

Wood Barrel Imports

Imports in Scandinavia

In 2021, purchases abroad of casks, barrels, vats, tubs, and coopers products of wood was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, faced a abrupt slump. The most prominent rate of growth was recorded in 2016 when imports increased by 37% against the previous year. The volume of import peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, wood barrel imports skyrocketed to $X in 2021. Overall, imports recorded a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of 56% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the near future.

Imports by Country

Norway dominates imports structure, accounting for X units, which was approx. 78% of total imports in 2021. Denmark (X units) held an 8.2% share (based on physical terms) of total imports, which put it in second place, followed by Iceland (6.8%) and Sweden (5%). Finland (X units) followed a long way behind the leaders.

Norway was also the fastest-growing in terms of the casks, barrels, vats, tubs, and coopers products of wood imports, with a CAGR of +7.2% from 2012 to 2021. At the same time, Iceland (+1.3%) displayed positive paces of growth. By contrast, Finland (-13.1%), Sweden (-27.9%) and Denmark (-32.3%) illustrated a downward trend over the same period. Norway (+68 p.p.) and Iceland (+5.4 p.p.) significantly strengthened its position in terms of the total imports, while Sweden and Denmark saw its share reduced by -17.4% and -56.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X), Norway ($X) and Denmark ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 91% of total imports.

Sweden, with a CAGR of +13.7%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per unit, jumping by 44% against the previous year. Overall, the import price posted a significant increase. The most prominent rate of growth was recorded in 2020 an increase of 268% against the previous year. Over the period under review, import prices attained the maximum in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Sweden ($X per unit), while Iceland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+57.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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