Saw Logs And Veneer Logs (Coniferous) Market

The global market for saw logs and veneer logs (coniferous) is expected to experience continued growth in both volume and value from 2022 to 2030. The market performance is projected to increase with a CAGR of +2.0% in volume and +4.0% in value over this period, reaching 1.4B cubic meters and $132.3B respectively by 2030. The United States leads in both consumption and production, while China dominates imports. New Zealand is a key exporter with steady growth. Overall, the market is forecasted to show resilience and growth in the coming years.

Market Forecast

Driven by increasing demand for saw logs and veneer logs (coniferous) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.0% 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 +4.0% for the period from 2022 to 2030, which is projected to bring the market value to $132.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Saw Logs And Veneer Logs (Coniferous)

In 2022, the amount of saw logs and veneer logs (coniferous) consumed worldwide shrank to 1.2B cubic meters, which is down by -3.4% on the year before. The total consumption volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 6.7% against the previous year. Over the period under review, global consumption of hit record highs at 1.2B cubic meters in 2018; afterwards, it flattened through to 2022.

The value of the market for saw logs and veneer logs (coniferous) worldwide reduced to $96.6B in 2022, with a decrease of -9.2% against 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). Overall, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +3.6% against 2018 indices. Global consumption peaked at $106.4B in 2021, and then reduced in the following year.

Consumption By Country

The United States (299M cubic meters) remains the largest saw logs and veneer logs (coniferous) consuming country worldwide, comprising approx. 26% of total volume. Moreover, consumption of saw logs and veneer logs (coniferous) in the United States exceeded the figures recorded by the second-largest consumer, Russia (145M cubic meters), twofold. The third position in this ranking was held by Canada (114M cubic meters), with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume in the United States totaled +2.7%. The remaining consuming countries recorded the following average annual rates of consumption growth: Russia (+3.8% per year) and Canada (+0.2% per year).

In value terms, the United States ($26.7B) led the market, alone. The second position in the ranking was held by Russia ($10.5B). It was followed by Canada.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +6.7%. In the other countries, the average annual rates were as follows: Russia (+6.5% per year) and Canada (+0.7% per year).

The countries with the highest levels of saw logs and veneer logs (coniferous) per capita consumption in 2022 were Finland (8.6 cubic meters per person), Sweden (6.5 cubic meters per person) and Canada (3 cubic meters per person).

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +3.8%), while (coniferous) for the other global leaders experienced more modest paces of growth.

Production

World Production of Saw Logs And Veneer Logs (Coniferous)

In 2022, approx. 1.2B cubic meters of saw logs and veneer logs (coniferous) were produced worldwide; falling by -3.3% compared with 2021 figures. The total output volume increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 6.4%. Global production peaked at 1.2B cubic meters in 2021, and then reduced in the following year.

In value terms, production of saw logs and veneer logs (coniferous) declined to $102.4B in 2022 estimated in export price. Over the period under review, production, however, showed strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 115% against the previous year. As a result, production reached the peak level of $126.5B. From 2019 to 2022, global production of growth failed to regain momentum.

Production By Country

The United States (306M cubic meters) remains the largest saw logs and veneer logs (coniferous) producing country worldwide, comprising approx. 26% of total volume. Moreover, production of saw logs and veneer logs (coniferous) in the United States exceeded the figures recorded by the second-largest producer, Russia (145M cubic meters), twofold. Canada (116M cubic meters) ranked third in terms of total production with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume in the United States amounted to +1.8%. The remaining producing countries recorded the following average annual rates of production growth: Russia (+2.1% per year) and Canada (-0.4% per year).

Imports

World Imports of Saw Logs And Veneer Logs (Coniferous)

In 2022, the amount of saw logs and veneer logs (coniferous) imported worldwide declined notably to 91M cubic meters, reducing by -21.1% compared with the previous year. Over the period under review, imports saw a pronounced downturn. The growth pace was the most rapid in 2016 when imports increased by 19%. Over the period under review, global imports of reached the peak figure at 156M cubic meters in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, imports of saw logs and veneer logs (coniferous) contracted notably to $10.6B in 2022. Overall, total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.6% 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 +14.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 43%. As a result, imports reached the peak of $13.2B, and then reduced markedly in the following year.

Imports By Country

In 2022, China (31M cubic meters) was the main importer of saw logs and veneer logs (coniferous), making up 34% of total imports. Austria (8M cubic meters) took the second position in the ranking, followed by Japan (7.5M cubic meters), Germany (5.2M cubic meters) and South Korea (4.2M cubic meters). All these countries together took near 27% share of total imports. Sweden (4.1M cubic meters), Belgium (3.6M cubic meters), India (3.5M cubic meters), Poland (2.7M cubic meters), Canada (2.3M cubic meters) and Latvia (1.5M cubic meters) followed a long way behind the leaders.

Imports into China decreased at an average annual rate of -3.8% from 2012 to 2022. At the same time, India (+58.6%), Latvia (+9.3%), Belgium (+9.2%) and Poland (+7.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +58.6% from 2012-2022. Canada experienced a relatively flat trend pattern. By contrast, Austria (-2.1%), Japan (-4.4%), Germany (-5.3%), Sweden (-5.6%) and South Korea (-8.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, Belgium and Poland increased by +3.8, +2.7 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($5.1B) constitutes the largest market for imported saw logs and veneer logs (coniferous) worldwide, comprising 48% of global imports. The second position in the ranking was taken by Japan ($849M), with an 8% share of global imports. It was followed by Austria, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +3.0%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-0.2% per year) and Austria (+2.4% per year).

Import Prices By Country

In 2022, the average import price for saw logs and veneer logs (coniferous) amounted to $116 per cubic meter, almost unchanged from the previous year. In general, the import price posted resilient growth. The most prominent rate of growth was recorded in 2020 an increase of 34%. Global import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($161 per cubic meter), while Belgium ($50 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 (+8.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Saw Logs And Veneer Logs (Coniferous)

In 2022, overseas shipments of saw logs and veneer logs (coniferous) decreased by -18.4% to 105M cubic meters, falling for the third year in a row after two years of growth. Over the period under review, exports showed a perceptible downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 26% against the previous year. The global exports peaked at 171M cubic meters in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of saw logs and veneer logs (coniferous) contracted to $9.1B in 2022. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 32%. As a result, the exports attained the peak of $9.9B, and then fell in the following year.

Exports By Country

New Zealand was the key exporting country with an export of around 30M cubic meters, which finished at 29% of total exports. The Czech Republic (9.9M cubic meters) ranks second in terms of the total exports with a 9.5% share, followed by Germany (9.1%), the United States (7.9%), Norway (7.7%) and the Netherlands (5.3%). Canada (4.4M cubic meters), Belgium (4.4M cubic meters), Poland (4.2M cubic meters), Uruguay (3M cubic meters) and Sweden (1.9M cubic meters) followed a long way behind the leaders.

New Zealand experienced a relatively flat trend pattern with regard to volume of exports of saw logs and veneer logs (coniferous). At the same time, Uruguay (+37.8%), the Netherlands (+20.0%), Belgium (+12.1%), Norway (+10.5%), Germany (+10.3%), Poland (+5.9%), the Czech Republic (+5.8%) and Sweden (+4.7%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing exporter exported in the world, with a CAGR of +37.8% from 2012-2022. By contrast, Canada (-9.4%) and the United States (-11.1%) illustrated a downward trend over the same period. New Zealand (+7.8 p.p.), Germany (+6.3 p.p.), Norway (+5.5 p.p.), the Czech Republic (+5.2 p.p.), the Netherlands (+4.6 p.p.), Belgium (+3.1 p.p.), Uruguay (+2.8 p.p.) and Poland (+2.2 p.p.) significantly strengthened its position in terms of the global exports, while Canada and the United States saw its share reduced by -4.8% and -12.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest saw logs and veneer logs (coniferous) supplying countries worldwide were New Zealand ($2.2B), the United States ($1.6B) and the Czech Republic ($1B), with a combined 54% share of global exports. Germany, Canada, Poland, Norway, Belgium, the Netherlands, Sweden and Uruguay lagged somewhat behind, together comprising a further 32%.

Uruguay, with a CAGR of +53.7%, recorded the highest rates of growth with regard to the value of exports, among 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 saw logs and veneer logs (coniferous) stood at $87 per cubic meter in 2022, surging by 12% against the previous year. Over the period under review, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for saw logs and veneer logs (coniferous) increased by +83.5% against 2017 indices. The pace of growth appeared the most rapid in 2021 an increase of 39%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($199 per cubic meter), while Norway ($37 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 (+15.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform