Saw Logs And Veneer Logs (Non-Coniferous) Market

The global market for saw logs and veneer logs (non-coniferous) is expected to grow steadily from 2022 to 2030, with an anticipated increase in both volume and value terms. The market performance is forecasted to accelerate, reaching a CAGR of +1.8% in volume and +3.6% in value over the next eight years. Consumption of saw logs and veneer logs reached 856M cubic meters in 2022, showing a relatively flat trend pattern. The top consuming countries in 2022 were China, Brazil, and Indonesia, while Vietnam recorded the highest growth rate. Production of saw logs and veneer logs decreased slightly in 2022 to 862M cubic meters, with China, Brazil, and Indonesia leading in production volumes. Global imports and exports of saw logs and veneer logs remained relatively stable, with China being the largest importer and the United States, Papua New Guinea, and Uruguay being the major exporters. The average import price in 2022 was $158 per cubic meter, while the average export price stood at $123 per cubic meter. Major exporting countries saw varied growth rates in export values, with Brazil leading in growth. The market outlook for saw logs and veneer logs (non-coniferous) indicates a positive growth trajectory in the coming years.

Market Forecast

Driven by increasing demand for saw logs and veneer logs (non-coniferous) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.8% for the period from 2022 to 2030, which is projected to bring the market volume to 984M cubic meters by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.6% for the period from 2022 to 2030, which is projected to bring the market value to $200.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Saw Logs And Veneer Logs (Non-Coniferous)

Global consumption of saw logs and veneer logs (non-coniferous) fell to 856M cubic meters in 2022, approximately equating the previous year's figure. In general, consumption, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 6.1%. As a result, consumption attained the peak volume of 882M cubic meters. From 2019 to 2022, the growth of the global consumption of remained at a lower figure.

The revenue of the market for saw logs and veneer logs (non-coniferous) worldwide contracted slightly to $150.7B in 2022, approximately equating 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, consumption saw a slight contraction. Over the period under review, the global market reached the maximum level at $187.9B in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (151M cubic meters), Brazil (119M cubic meters) and Indonesia (89M cubic meters), together accounting for 42% of global consumption. The United States, Vietnam, India, Russia, Canada, Thailand and Malaysia lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +4.0%), while (non-coniferous) for the other global leaders experienced more modest paces of growth.

In value terms, Indonesia ($40.4B), the United States ($23.3B) and China ($15.6B) were the countries with the highest levels of market value in 2022, together accounting for 53% of the global market. Brazil, India, Vietnam, Canada, Russia, Thailand and Malaysia lagged somewhat behind, together comprising a further 19%.

Vietnam, with a CAGR of +2.5%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while (non-coniferous) for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of saw logs and veneer logs (non-coniferous) per capita consumption in 2022 were Canada (715 cubic meters per 1000 persons), Brazil (555 cubic meters per 1000 persons) and Vietnam (458 cubic meters per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +3.0%), while (non-coniferous) for the other global leaders experienced more modest paces of growth.

Production

World Production of Saw Logs And Veneer Logs (Non-Coniferous)

After two years of growth, production of saw logs and veneer logs (non-coniferous) decreased by -0.2% to 862M cubic meters in 2022. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 6.1%. As a result, production attained the peak volume of 878M cubic meters. From 2019 to 2022, global production of growth remained at a somewhat lower figure.

In value terms, production of saw logs and veneer logs (non-coniferous) contracted modestly to $136.8B in 2022 estimated in export price. In general, production saw a perceptible shrinkage. The pace of growth was the most pronounced in 2014 when the production volume increased by 23% against the previous year. Over the period under review, global production of reached the peak level at $185.4B in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (138M cubic meters), Brazil (122M cubic meters) and Indonesia (89M cubic meters), with a combined 40% share of global production. The United States, Vietnam, India, Russia, Canada, Malaysia and Thailand lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of (non-coniferous), amongst the main producing countries, was attained by Vietnam (with a CAGR of +3.9%), while (non-coniferous) for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Saw Logs And Veneer Logs (Non-Coniferous)

In 2022, the amount of saw logs and veneer logs (non-coniferous) imported worldwide declined slightly to 46M cubic meters, falling by -3.8% on 2021. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 16%. Over the period under review, global imports of reached the peak figure at 68M cubic meters in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of saw logs and veneer logs (non-coniferous) reduced to $7.3B in 2022. Overall, imports continue to indicate a mild slump. The pace of growth appeared the most rapid in 2014 with an increase of 23%. As a result, imports reached the peak of $12B. From 2015 to 2022, the growth of global imports of remained at a lower figure.

Imports By Country

In 2022, China (14M cubic meters), distantly followed by Free Zones (8.5M cubic meters), Belgium (2.9M cubic meters), Portugal (2.7M cubic meters) and Sweden (2.4M cubic meters) were the major importers of saw logs and veneer logs (non-coniferous), together constituting 66% of total imports. The following importers - Italy (1.6M cubic meters), Finland (1.6M cubic meters), Lao People's Democratic Republic (1.5M cubic meters), Vietnam (1.3M cubic meters), India (1.1M cubic meters), Spain (0.9M cubic meters), Poland (0.8M cubic meters) and Austria (0.8M cubic meters) - together made up 21% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Belgium (with a CAGR of +13.3%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, China ($3.7B) constitutes the largest market for imported saw logs and veneer logs (non-coniferous) worldwide, comprising 51% of global imports. The second position in the ranking was taken by Free Zones ($531M), with a 7.3% share of global imports. It was followed by India, with a 5.2% share.

In China, imports of saw logs and veneer logs (non-coniferous) remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Free Zones (+7.8% per year) and India (-15.3% per year).

Import Prices By Country

In 2022, the average import price for saw logs and veneer logs (non-coniferous) amounted to $158 per cubic meter, with an increase of 2.9% against the previous year. Overall, the import price, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2021 when the average import price increased by 13% against the previous year. Global import price peaked at $192 per cubic meter in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 India ($338 per cubic meter), while Lao People's Democratic Republic ($54 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 (+11.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Saw Logs And Veneer Logs (Non-Coniferous)

In 2022, global exports of saw logs and veneer logs (non-coniferous) dropped modestly to 53M cubic meters, waning by -3% on the previous year's figure. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 13% against the previous year. Over the period under review, the global exports of attained the maximum at 65M cubic meters in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of saw logs and veneer logs (non-coniferous) amounted to $6.5B in 2022. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 17%. The global exports peaked at $7.7B in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

The shipments of the nine major exporters of saw logs and veneer logs (non-coniferous), namely Uruguay, Belgium, Russia, France, Papua New Guinea, Latvia, Brazil, the United States and Solomon Islands, represented more than two-thirds of total export. The following exporters - Cameroon (1.2M cubic meters), Estonia (1.1M cubic meters), Spain (1M cubic meters) and Slovenia (1M cubic meters) - each reached an 8.3% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Brazil (with a CAGR of +53.2%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest saw logs and veneer logs (non-coniferous) supplying countries worldwide were the United States ($887M), Papua New Guinea ($637M) and Uruguay ($557M), with a combined 32% share of global exports. France, Solomon Islands, Russia, Latvia, Belgium, Cameroon, Brazil, Slovenia, Estonia and Spain lagged somewhat behind, together accounting for a further 36%.

Brazil, with a CAGR of +35.2%, 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.

Export Prices By Country

The average export price for saw logs and veneer logs (non-coniferous) stood at $123 per cubic meter in 2022, rising by 12% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The global export price peaked at $129 per cubic meter in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($417 per cubic meter), while Belgium ($42 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 (+10.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform