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The global market for coniferous wood is expected to grow slowly but steadily over the next decade, supported by stable demand. Analysts forecast an average annual growth rate of about 0.6% between 2024 and 2035. By the end of this period, global market volume is projected to reach 1.3 billion cubic meters, while market value could rise to $73.7 billion in nominal wholesale prices.
In 2024, global consumption of coniferous wood amounted to approximately 1.2 billion cubic meters, remaining largely unchanged compared with 2023. Consumption peaked in 2021 and has since stabilized, indicating a clear plateau.
Market revenue in 2024 totaled $65.2 billion, also showing little change year on year. Overall, value growth has been muted in recent years, with the most notable increase recorded in 2016, when market value rose by 7.8%.
The United States remains the world’s largest consumer of coniferous wood, accounting for 306 million cubic meters, or about 26% of global consumption. It is also the leading producer, with the same volume and market share.
U.S. consumption is roughly twice that of Russia, while Canada ranks third, consuming around 120 million cubic meters annually. In production terms, Canada follows closely with 116 million cubic meters.
In value terms, the United States also leads the market with revenues of $14.3 billion, followed by Finland at $5.9 billion. Russia, by contrast, shows a negative average annual growth rate in market value of –1.8%.
On a per capita basis, the highest consumption levels are recorded in forest-rich countries: Finland (8.7 cubic meters per person), New Zealand (7.0), and Sweden (6.2). Among major players, New Zealand stands out for the fastest growth, with a compound annual growth rate exceeding 21%.
Global production in 2024 is also estimated at around 1.2 billion cubic meters, mirroring consumption trends. Output peaked in 2021 and has since remained flat. In value terms, production reached $64.9 billion in 2024, slightly below the 2022 peak.
A key contrast to stable demand is the prolonged contraction of international trade since 2014. Global imports and exports have not recovered to their previous highs. Imports peaked at 166 million cubic meters in 2014 but fell to 60 million cubic meters in 2024, marking the first annual decline since 2018. In value terms, imports dropped to $2.7 billion, far below the $10.4 billion recorded in 2014.
The largest importers by volume are Austria, Romania, Japan, Germany, the Czech Republic, and Canada, together accounting for 73% of global imports. Romania stands out as a major growth market, with import volumes and values increasing at double-digit annual rates.
Average import prices in 2024 stood at $44 per cubic meter, down significantly from the $71 per cubic meter peak in 2014. Price levels vary widely, from around $60 per cubic meter in the Netherlands to $16 in Poland.
Exports followed a similar pattern. In 2024, global exports declined by 3.5% to 66 million cubic meters, also the first drop since 2018. Export value fell to $2.9 billion, compared with a peak of $9.4 billion in 2014.
The largest exporters by volume are the Czech Republic and Australia, which together account for 52% of global exports. In value terms, Australia leads with $1 billion, followed by the Czech Republic with $732 million. Australia also shows the fastest growth in export value.
The average export price in 2024 was $45 per cubic meter, well below the early-2010s peak of $59 per cubic meter. Australia commands the highest prices, while the Netherlands is among the lowest-priced exporters.
Overall, the global coniferous wood market is moving toward moderate growth through 2035, with consumption and production largely stabilized. The main uncertainty lies in the continued contraction of international trade and lower price levels, alongside strong regional differences: U.S. dominance in physical volumes, rapid growth in selected markets such as New Zealand and Romania, and export concentration in Australia and the Czech Republic.
