Veneer sheets market in Estonia

Earlier Report Observations

Estonia's position as the EU's second-largest producer of veneer sheets, with a strong state-influenced sector, underpinned a production volume of 96.2 thousand m³ in 2018. The market demonstrated significant growth potential in 2019, as the domestic market size expanded by 34% to 59.5 thousand m³, reflecting active industry development. This was followed by increased investment in production capacity across Europe, which supported a rise in Estonian output to 67.4 thousand m³ in 2020. A sharp rebound in European consumption, growing by 32% in 2021, drove a substantial surge in Estonia, with production reaching 95.5 thousand m³ and market volume climbing to 89.6 thousand m³, fueled by shifts in consumer preferences and stronger demand.

After the 2021 peak, both production and market volume contracted in 2022, falling to 66.6 thousand m³ and 71.7 thousand m³ respectively. A partial recovery occurred in 2023, with production increasing to 73.3 thousand m³ and market volume rising to 88.9 thousand m³. However, by 2024, production declined to 64.1 thousand m³ and market volume dropped to 63.5 thousand m³, corresponding to a broader European market adjustment influenced by global supply-chain disruptions and shifts in pricing.

Production veneer sheets in Estonia

In value, 2018-2021, K $ US

Estonia's veneer sheets production has increased for the second consecutive year. In 2021, the output was valued at 72 177 thousand US dollars, showing a sharp gain of 68.4% compared to 2020. The minimum value was recorded in 2019 at 40 565 thousand US dollars, with the largest decline of 21.0% occurring that year. Between 2018 and 2021, production grew by 40.6%, equating to an annualized rate of 12.0%.

Annual dynamics of production in Estonia in value, 2018-2021, K $ US

In kind, 2018-2021, m³

Top producers of veneer sheets, 2018-2021

World map of production of veneer sheets, 2018-2021

Estonia's veneer sheets production has increased for the second consecutive year. In 2021, 95 493 cubic meters of veneer sheets were produced, up by 41.8% compared to the previous year. The minimum value was recorded in 2019 at 64 410 cubic meters, with the largest decline of 33.1% occurring that year.

Annual dynamics of production in Estonia in kind, 2018-2021, m³

Exports veneer sheets from Estonia

Exports in kind, m³

Cross-border shipments of veneer sheets from Estonia have increased for the second consecutive year. In 2021, Estonia exported 91 751 cubic meters, marking a strong gain of 16.9% compared to the previous year. The minimum value was recorded in 2019 at 57 360 cubic meters, with the largest decline of 26.6% occurring that year. The largest increase was recorded in 2020 at 36.9%. Between 2018 and 2021, exports grew by 17.3%, equating to an annualized rate of 5.5%.

Annual dynamics of product's exports from Estonia in kind, 2018-2021, m³

From 2018 to 2021, Poland, Latvia, and China formed the main cluster of markets for Estonia's veneer sheets exports in kind. Poland accounted for 40.6% of exports, Latvia for 20.2%, and China for 7.6%, with these three countries together representing 68.5% of total flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Estonia in kind, 2018-2021

Exports in value, K $ US

Veneer sheets exports from Estonia have increased for the second consecutive year. In 2021, exports totalled 68 106 thousand US dollars, showing a dramatic increase of 49.2% from 2020. The minimum value was recorded in 2019 at 43 790 thousand US dollars, with the largest decline of 20.2% occurring that year. Over the period from 2018 to 2021, exports increased by 24.2%, with a compound annual growth rate of 7.5%.

Annual dynamics of product's exports from Estonia in value, 2018-2021, K $ US

During 2018 to 2021, veneer sheets from Estonia were supplied to many different markets. Even the largest destinations—Poland, the United States, and Latvia—together represented only 41.1% of total exports in value terms.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Estonia in value, 2018-2021

Imports veneer sheets to Estonia

Imports in kind, m³

Veneer sheets imports into Estonia have increased for the third consecutive year. In 2021, imports totalled 85 829 cubic meters, indicating a solid improvement of 20.8% compared to the previous year. Over the period from 2018 to 2021, imports increased by 226.3%, with a compound annual growth rate of 48.3%.

Annual dynamics of product's imports to Estonia in kind, 2018-2021, m³

From 2018 to 2021, two leading markets—Finland and Russia—together accounted for 82.4% of total imports in kind for Estonia's veneer sheets. The remaining volume was dispersed across a wide range of other countries.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Estonia in kind, 2018-2021

Imports in value, K $ US

Veneer sheets deliveries to Estonia have increased for the third consecutive year. In 2021, imports were recorded at 40 139 thousand US dollars, marking an increase of 47.8% compared to the previous year. Between 2018 and 2021, imports grew by 128.1%, equating to an annualized rate of 31.6%.

Annual dynamics of product's imports to Estonia in value, 2018-2021, K $ US

From 2018 to 2021, Finland, Ukraine, and Russia accounted for the largest share of Estonia's veneer sheets imports in value terms. Finland represented 44.1% of imports, Ukraine 18.0%, and Russia 9.4%, with these three countries together comprising 71.5% of total flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Estonia in value, 2018-2021