Russia's war is changing wood pellet market dynamics in Europe, with prices tripling in 12 months
The international trade of wood pellets has increased yearly for over ten years thanks to growing demand in Europe and Asia. Although shipments in the first half of 2022 were practically unchanged from the same period in 2021, an anticipated increase in demand in Europe in the second half of the year is likely to make 2022 another record year of close to 30 million tons shipped worldwide. The most significant change is the rising demand in Asia, with Japan and South Korea having become the second and fourth largest markets in the world, respectively. The United Kingdom, Denmark, the Netherlands, Italy, and Belgium continue to be the major import markets in Europe.