Northern America: Peat Market 2024

Peat Market Size in Northern America

In 2023, the North American peat market decreased by X% to $X, falling for the second consecutive year after five years of growth. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Peat Production in Northern America

In value terms, peat production dropped to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2022, and then dropped in the following year.

Peat Exports

Exports in Northern America

In 2023, shipments abroad of peat decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The volume of export peaked at X tons in 2022, and then fell markedly in the following year.

In value terms, peat exports dropped to $X in 2023. Total exports indicated a resilient increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2012 indices. The growth pace was the most rapid in 2020 with an increase of X%. The level of export peaked at $X in 2022, and then declined in the following year.

Exports by Country

Canada dominates exports structure, resulting at X tons, which was approx. X% of total exports in 2023. It was distantly followed by the United States (X tons), constituting a X% share of total exports.

Canada was also the fastest-growing in terms of the peat exports, with a CAGR of X% from 2012 to 2023. The United States (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Canada increased by X percentage points.

In value terms, Canada ($X) remains the largest peat supplier in Northern America, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Canada amounted to X%.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2023, surging by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2015 when the export price increased by X%. The level of export peaked in 2023 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%).

Peat Imports

Imports in Northern America

In 2023, purchases abroad of peat decreased by X% to X tons, falling for the second year in a row after two years of growth. Total imports indicated a pronounced increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, peat imports reduced to $X in 2023. Total imports indicated a resilient increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, the United States (X tons) was the main importer of peat, making up X% of total imports. It was distantly followed by Canada (X tons), making up an X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to peat imports into the United States stood at X%. At the same time, Canada (X%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of X% from 2012-2023. Canada (X p.p.) significantly strengthened its position in terms of the total imports, while the United States saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, the United States ($X) constitutes the largest market for imported peat in Northern America, comprising X% of total imports. The second position in the ranking was taken by Canada ($X), with a X% share of total imports.

From 2012 to 2023, the average annual growth rate of value in the United States totaled X%.

Import Prices by Country

In 2023, the import price in Northern America amounted to $X per ton, approximately reflecting the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%).

Source: IndexBox Platform