Market research

Wood fuel market in Finland

Release date: Mar 30, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Earlier Report Observations

From 2018 to 2021, the wood fuel market in Finland grew from 11.1 million m³ to 14.5 million m³. This expansion was primarily driven by the EU Renewable Energy Directive, which incentivized bioenergy use and established wood fuel as the largest single source of energy in the country by 2018. Consumption at heat and power plants reached a record 23.5 million m³ in 2021, reflecting the policy's impact on demand.

After peaking in 2021, market volume fell to 11.8 million m³ in 2022. The sharp decline was largely caused by reduced availability of Russian energy wood, which curtailed imports and shifted the market toward domestic sources. In 2023, the market stabilized at 11.9 million m³, supported by updated EU sustainability criteria and increased use of wood chips in the energy sector.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Finland
  1. 5.1.1. Annual dynamics of production in Finland in kind, 2018-2023, K m³
  2. 5.1.2. Annual dynamics of production in Finland in value, 2018-2023, $ US
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, K m³
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, K m³
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, K m³
    1. 6.1.2.1. Annual dynamics of product's imports to Finland in kind, 2018-2024, K m³
    2. 6.1.2.2. Dynamics of product's imports in kind to Finland by countries, 2018-2024, K m³
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Finland in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Finland by countries, 2018-2024, M $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/m³
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Finland, 2018-2024, $ US/m³
    2. 6.1.4.2. Dynamics of average price of product's imports to Finland by countries, 2018-2024, $ US/m³
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, K m³
    1. 6.2.2.1. Annual dynamics of product's imports to Finland in kind, 2018-2024, K m³
    2. 6.2.2.2. Dynamics of product's imports in kind to Finland by countries, 2018-2024, K m³
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Finland in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Finland by countries, 2018-2024, M $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/m³
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Finland, 2018-2024, $ US/m³
    2. 6.2.4.2. Dynamics of average price of product's imports to Finland by countries, 2018-2024, $ US/m³
7. Exports
1. 7.1. Exports (Direct Data)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, K m³
    1. 7.1.2.1. Annual dynamics of product's exports from Finland in kind, 2018-2024, K m³
    2. 7.1.2.2. Dynamics of product's exports in kind from Finland by countries, 2018-2024, K m³
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Finland in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Finland by countries, 2018-2024, M $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/m³
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Finland, 2018-2024, $ US/m³
    2. 7.1.4.2. Dynamics of average price of product's exports from Finland by countries, 2018-2024, $ US/m³
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, K m³
    1. 7.2.2.1. Annual dynamics of product's exports from Finland in kind, 2018-2024, K m³
    2. 7.2.2.2. Dynamics of product's exports in kind from Finland by countries, 2018-2024, K m³
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Finland in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Finland by countries, 2018-2024, M $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/m³
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Finland, 2018-2024, $ US/m³
    2. 7.2.4.2. Dynamics of average price of product's exports from Finland by countries, 2018-2024, $ US/m³
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K m³
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K m³
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production wood fuel in Finland

In kind, 2017-2020, K m³

Top producers of wood fuel, 2017-2020

Source: SHEV.io

World map of production of wood fuel, 2017-2020

Source: SHEV.io

Wood fuel production in Finland increased for the second consecutive year. In 2020, Finland produced 8,937 thousand cubic meters of wood fuel, which represents an 11.5% increase compared to the previous year. Between 2017 and 2020, production grew by 12.4%, translating to an average annual growth rate of 4.0%. The lowest production level was recorded in 2018 at 7,759 thousand cubic meters, which also saw the largest decline of 2.4%.

Annual dynamics of production in Finland in kind, 2017-2020, K m³

Parameter		2018	2019	2020	CAGR
1	Change from last year	(2.4%)	3.3%	11.5%	4.0%

Source: SHEV.io

Exports wood fuel from Finland

Exports in kind, K m³

In 2020, Finland's wood fuel export volume reached 361 thousand cubic meters, marking a significant increase of 14.2% from the previous year. However, over the period from 2017 to 2020, exports decreased by 6.1%, with an average annual decline of 2.1%. The lowest export volume was recorded in 2019 at 316 thousand cubic meters, while the highest was in 2018 at 427 thousand cubic meters. The largest decline occurred in 2019, with a drop of 26.0%.

Annual dynamics of product's exports from Finland in kind, 2017-2020, K m³

Parameter		2018	2019	2020	CAGR
1	Change from last year	11.1%	(26.0%)	14.2%	(2.1%)

Source: SHEV.io

From 2017 to 2020, the structure of wood fuel exports in volume terms was dominated by Sweden, which accounted for 75.5% of total exports. The remaining share was distributed among a number of smaller trading partners.

Structure of product's exports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Finland in kind, 2017-2020

Source: SHEV.io

Exports in value, M $ US

After two years of growth, Finland's wood fuel exports in value terms declined. In 2020, export value reached 18.1 million US dollars, representing a sharp decrease of 25.4% compared to the previous year. Over the 2017-2020 period, exports fell by 10.6%, with a compound annual growth rate of -3.7%. The highest export value was recorded in 2019 at 24.3 million US dollars, while the largest increase occurred in 2018 with an 11.8% rise.

Annual dynamics of product's exports from Finland in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	11.8%	7.1%	(25.4%)	(3.7%)

Source: SHEV.io

Between 2017 and 2020, Sweden and Denmark were the leading destinations for Finland's wood fuel exports in value terms, together accounting for 85.3% of total export flows. The remaining share was spread across various other countries.

Structure of product's exports in value by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Finland in value, 2017-2020

Source: SHEV.io

Imports wood fuel to Finland

Imports in kind, K m³

In 2020, Finland's wood fuel import volume reached 5,769 thousand cubic meters, showing a substantial increase of 53.6% compared to 2019. From 2017 to 2020, imports grew by 73.1%, with an average annual growth rate of 20.1%. The largest decline was recorded in 2019, with a decrease of 1.3%.

Annual dynamics of product's imports to Finland in kind, 2017-2020, K m³

Parameter		2018	2019	2020	CAGR
1	Change from last year	14.2%	(1.3%)	53.6%	20.1%

Source: SHEV.io

During the 2017-2020 period, Russia remained the dominant source for Finland's wood fuel imports in volume terms, holding a 79.0% share of total imports. Other markets contributed to the remaining portion.

Structure of product's imports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Finland in kind, 2017-2020

Source: SHEV.io

Imports in value, M $ US

Wood fuel imports to Finland increased for the third consecutive year. In 2020, import value reached 249.3 million US dollars, equivalent to a strong year-over-year increase of 12.3%. Over the 2017-2020 period, imports surged by 95.2%, with a compound annual growth rate of 25.0%.

Annual dynamics of product's imports to Finland in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	45.4%	19.6%	12.3%	25.0%

Source: SHEV.io

From 2017 to 2020, Russia was the key supplier of wood fuel to Finland in value terms, accounting for 70.2% of total imports. A diverse group of other countries made up the remainder.

Structure of product's imports in value by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Finland in value, 2017-2020

Source: SHEV.io