Serbia: Market for Wood Pellets And Other Agglomerates 2024

Market Size for Wood Pellets And Other Agglomerates in Serbia

The Serbian market for wood pellets and other agglomerates expanded remarkably to $X in 2022, rising by X% against the previous year. Overall, consumption saw a buoyant expansion. Wood pellets and other agglomerates consumption peaked in 2022 and is likely to continue growth in the immediate term.

Production of Wood Pellets And Other Agglomerates in Serbia

In value terms, wood pellets and other agglomerates production rose slightly to $X in 2022 estimated in export price. In general, production, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Wood Pellets And Other Agglomerates

Exports from Serbia

In 2022, approx. X tons of wood pellets and other agglomerates were exported from Serbia; with a decrease of X% compared with the previous year's figure. Overall, exports showed a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wood pellets and other agglomerates exports fell notably to $X in 2022. In general, exports showed a perceptible setback. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

North Macedonia (X tons) was the main destination for wood pellets and other agglomerates exports from Serbia, accounting for a X% share of total exports. Moreover, wood pellets and other agglomerates exports to North Macedonia exceeded the volume sent to the second major destination, Germany (X tons), more than tenfold. Italy (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to North Macedonia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Italy (X% per year).

In value terms, North Macedonia ($X) remains the key foreign market for wood pellets and other agglomerates exports from Serbia, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to North Macedonia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Italy (X% per year).

Export Prices by Country

In 2022, the average export price for wood pellets and other agglomerates amounted to $X per ton, growing by X% against the previous year. Overall, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood pellets and other agglomerates export price increased by X% against 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wood Pellets And Other Agglomerates

Imports into Serbia

In 2022, supplies from abroad of wood pellets and other agglomerates decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2021, and then fell in the following year.

In value terms, wood pellets and other agglomerates imports surged to $X in 2022. Over the period under review, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

Bosnia and Herzegovina (X tons), Montenegro (X tons) and Croatia (X tons) were the main suppliers of wood pellets and other agglomerates imports to Serbia, with a combined X% share of total imports. Ukraine and Russia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ukraine (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wood pellets and other agglomerates suppliers to Serbia were Bosnia and Herzegovina ($X), Croatia ($X) and Montenegro ($X), together accounting for X% of total imports. Ukraine and Russia lagged somewhat behind, together comprising a further X%.

Ukraine, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for wood pellets and other agglomerates stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price enjoyed a strong increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Russia ($X per ton) and Croatia ($X per ton), while the price for Ukraine ($X per ton) and Montenegro ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Montenegro (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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