Saw Logs And Veneer Logs Market

The article discusses the anticipated growth in the global market for saw logs and veneer logs, with increasing demand worldwide. The market is expected to have a CAGR of +1.7% for volume and +3.7% for value, reaching $329.2B by 2030. The article provides insights on consumption patterns, market performance, and key players in the industry. It also highlights the countries with the highest consumption and production levels, as well as trends in imports and exports of saw logs and veneer logs.

Market Forecast

Driven by increasing demand for saw logs and veneer logs 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 +1.7% for the period from 2022 to 2030, which is projected to bring the market volume to 2.3B cubic meters by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.7% for the period from 2022 to 2030, which is projected to bring the market value to $329.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Saw Logs And Veneer Logs

Global saw logs and veneer logs consumption fell slightly to 2B cubic meters in 2022, which is down by -2.5% against the previous year's figure. The total consumption volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 5.6%. As a result, consumption attained the peak volume of 2.1B cubic meters. From 2019 to 2022, the growth of the global consumption remained at a lower figure.

The revenue of the market for saw logs and veneer logs worldwide shrank modestly to $246.9B in 2022, waning by -4% 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). Over the period under review, consumption, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 9.9%. As a result, consumption reached the peak level of $283.4B. From 2019 to 2022, the growth of the global market failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (373M cubic meters), China (211M cubic meters) and Russia (177M cubic meters), with a combined 38% share of global consumption. Brazil, Canada, Indonesia, Sweden, Finland, India, Germany, Vietnam, Chile and Poland lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +4.2%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest saw logs and veneer logs markets worldwide were the United States ($50.1B), Indonesia ($40.4B) and China ($23.6B), with a combined 46% share of the global market.

The United States, with a CAGR of +4.1%, recorded the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of saw logs and veneer logs per capita consumption in 2022 were Finland (10 cubic meters per person), Sweden (7.2 cubic meters per person) and Canada (3.7 cubic meters per person).

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +3.2%), while consumption for the other global leaders experienced more modest paces of growth.

Consumption By Type

The products with the highest volumes of consumption in 2022 were saw logs and veneer logs (coniferous) (1.2B cubic meters) and saw logs and veneer logs (non-coniferous) (856M cubic meters).

From 2012 to 2022, the biggest increases were recorded for saw logs and veneer logs (coniferous) (with a CAGR of +1.7%).

In value terms, the largest types of saw logs and veneer logs in terms of market size were saw logs and veneer logs (non-coniferous) ($150.7B) and saw logs and veneer logs (coniferous) ($96.6B).

In terms of the main consumed products, saw logs and veneer logs (coniferous), with a CAGR of +4.2%, saw the highest rates of growth with regard to market size over the period under review.

Production

World Production of Saw Logs And Veneer Logs

In 2022, after two years of growth, there was decline in production of saw logs and veneer logs, when its volume decreased by -2% to 2B cubic meters. The total output volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 5.1% against the previous year. As a result, production attained the peak volume of 2.1B cubic meters. From 2019 to 2022, global production growth remained at a somewhat lower figure.

In value terms, saw logs and veneer logs production fell to $239.2B in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 28% against the previous year. As a result, production reached the peak level of $311.8B. From 2019 to 2022, global production growth remained at a lower figure.

Production By Country

The United States (383M cubic meters) remains the largest saw logs and veneer logs producing country worldwide, comprising approx. 19% of total volume. Moreover, saw logs and veneer logs production in the United States exceeded the figures recorded by the second-largest producer, Russia (182M cubic meters), twofold. The third position in this ranking was taken by Brazil (171M cubic meters), with an 8.3% share.

In the United States, saw logs and veneer logs production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (+0.3% per year) and Brazil (+1.5% per year).

Production By Type

The products with the highest volumes of production in 2022 were saw logs and veneer logs (coniferous) (1.2B cubic meters) and saw logs and veneer logs (non-coniferous) (862M cubic meters).

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading produced products, was attained by saw logs and veneer logs (coniferous) (with a CAGR of +1.7%).

In value terms, the largest types of saw logs and veneer logs in terms of market size were saw logs and veneer logs (non-coniferous) ($136.8B) and saw logs and veneer logs (coniferous) ($102.4B).

Among the main produced products, saw logs and veneer logs (coniferous), with a CAGR of +6.4%, recorded the highest rates of growth with regard to market size over the period under review.

Imports

World Imports of Saw Logs And Veneer Logs

In 2022, approx. 140M cubic meters of saw logs and veneer logs were imported worldwide; declining by -14.5% against the year before. Overall, imports recorded a noticeable decline. The most prominent rate of growth was recorded in 2013 when imports increased by 17% against the previous year. Global imports peaked at 216M cubic meters in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, saw logs and veneer logs imports shrank to $17.9B in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 34%. Global imports peaked at $22.4B in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports By Country

China represented the main importing country with an import of around 45M cubic meters, which recorded 32% of total imports. Austria (8.8M cubic meters) ranks second in terms of the total imports with a 6.3% share, followed by Free Zones (6.1%), Belgium (5.6%), Japan (5.5%) and Sweden (4.6%). Germany (5.6M cubic meters), India (4.6M cubic meters), South Korea (4.3M cubic meters), Poland (3.5M cubic meters), Portugal (3.1M cubic meters), Finland (2.9M cubic meters) and Canada (2.9M cubic meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to saw logs and veneer logs imports into China stood at -3.1%. At the same time, Belgium (+17.1%), India (+12.1%), Free Zones (+6.9%), Portugal (+2.2%) and Canada (+1.1%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing importer imported in the world, with a CAGR of +17.1% from 2012-2022. Poland experienced a relatively flat trend pattern. By contrast, Austria (-3.0%), Japan (-4.4%), Germany (-5.1%), Sweden (-5.8%), South Korea (-8.8%) and Finland (-9.0%) illustrated a downward trend over the same period. While the share of Belgium (+4.7 p.p.), Free Zones (+3.5 p.p.) and India (+2.4 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Japan (-1.5 p.p.), Germany (-1.5 p.p.), Finland (-2.3 p.p.), Sweden (-2.3 p.p.), South Korea (-3.3 p.p.) and China (-4.1 p.p.) displayed negative dynamics. 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 saw logs and veneer logs worldwide, comprising 49% of global imports. The second position in the ranking was taken by Japan ($895M), with a 5% share of global imports. It was followed by Austria, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +1.9%. In the other countries, the average annual rates were as follows: Japan (-1.4% per year) and Austria (+1.7% per year).

Imports By Type

Saw logs and veneer logs (coniferous) was the largest imported product with an import of about 91M cubic meters, which reached 66% of total imports. It was distantly followed by saw logs and veneer logs (non-coniferous) (46M cubic meters), making up a 34% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main imported products, was attained by saw logs and veneer logs (non-coniferous) (with a CAGR of -0.8%).

In value terms, the largest types of imported saw logs and veneer logs were saw logs and veneer logs (coniferous) ($10.6B) and saw logs and veneer logs (non-coniferous) ($7.3B).

Saw logs and veneer logs (coniferous), with a CAGR of +2.6%, saw the highest growth rate of the value of imports, in terms of the main imported products over the period under review.

Import Prices By Type

In 2022, the average import price for saw logs and veneer logs amounted to $128 per cubic meter, approximately reflecting the previous year. In general, import price indicated a pronounced increase from 2012 to 2022: its price 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, saw logs and veneer logs import price increased by +57.0% against 2019 indices. The growth pace was the most rapid in 2021 when the average import price increased by 31% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major imported products. In 2022, the product with the highest price was saw logs and veneer logs (non-coniferous) ($158 per cubic meter), while the price for saw logs and veneer logs (coniferous) amounted to $116 per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by saw logs and veneer logs (coniferous) (+5.5%).

Import Prices By Country

In 2022, the average import price for saw logs and veneer logs amounted to $128 per cubic meter, flattening at the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price 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, saw logs and veneer logs import price increased by +57.0% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 31%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($193 per cubic meter), while Belgium ($44 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 (+9.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Saw Logs And Veneer Logs

In 2022, global saw logs and veneer logs exports contracted to 176M cubic meters, waning by -6.8% against the year before. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 16% against the previous year. As a result, the exports attained the peak of 225M cubic meters. From 2014 to 2022, the growth of the global exports remained at a lower figure.

In value terms, saw logs and veneer logs exports dropped slightly to $15.6B in 2022. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 26% against the previous year. Over the period under review, the global exports hit record highs at $16.4B in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

New Zealand (30M cubic meters) and Belgium (26M cubic meters) represented roughly 32% of total exports in 2022. It was distantly followed by the Netherlands (12M cubic meters), Uruguay (12M cubic meters), the Czech Republic (10M cubic meters), Germany (10M cubic meters), the United States (10M cubic meters) and Norway (8.3M cubic meters), together creating a 36% share of total exports. Russia (5M cubic meters), Poland (4.9M cubic meters), France (4.8M cubic meters), Canada (4.7M cubic meters) and Latvia (3.5M cubic meters) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +28.5%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest saw logs and veneer logs supplying countries worldwide were the United States ($2.5B), New Zealand ($2.2B) and Germany ($1.1B), with a combined 38% share of global exports. The Czech Republic, Uruguay, Belgium, France, Canada, Poland, Latvia, Russia, Norway and the Netherlands lagged somewhat behind, together accounting for a further 32%.

The Netherlands, with a CAGR of +16.4%, saw 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.

Exports By Type

In 2022, saw logs and veneer logs (coniferous) (105M cubic meters) was the main type of saw logs and veneer logs, comprising 67% of total exports. It was distantly followed by saw logs and veneer logs (non-coniferous) (53M cubic meters), constituting a 33% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exported products, was attained by saw logs and veneer logs (non-coniferous) (with a CAGR of -0.3%).

In value terms, saw logs and veneer logs (coniferous) ($9.1B) and saw logs and veneer logs (non-coniferous) ($6.5B) constituted the products with the highest levels of exports in 2022.

Among the main exported products, saw logs and veneer logs (coniferous), with a CAGR of +2.4%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices By Type

The average export price for saw logs and veneer logs stood at $88 per cubic meter in 2022, surging by 5.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 22% against the previous year. The global export price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major exported products. In 2022, the product with the highest price was saw logs and veneer logs (non-coniferous) ($123 per cubic meter), while the average price for exports of saw logs and veneer logs (coniferous) totaled $87 per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by saw logs and veneer logs (coniferous) (+4.8%).

Export Prices By Country

The average export price for saw logs and veneer logs stood at $88 per cubic meter in 2022, rising by 5.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2021 an increase of 22%. The global export price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($249 per cubic meter), while Belgium ($22 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 (+15.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform