Market research

Wood pellets market in Finland

Release date: Mar 29, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Earlier Report Observations

From 2018 to 2023, the Finnish wood pellet market experienced significant fluctuations, with market volume rising from 436 thousand tons to a peak of 549 thousand tons in 2021 before declining to 493 thousand tons in 2023. The sharp increase in 2021 was primarily driven by the ongoing reduction in peat and fossil fuel use, which boosted demand for wood pellets as an alternative energy source.

The market was already influenced by the shift away from peat and fossil fuels in 2018, supporting production and import levels. In 2023, a decrease in the consumption of solid wood fuels at heat and power plants contributed to the downturn in market volume, compounded by rising domestic wood prices following the halt of imports from Russia.

In 2024, wood pellet production fell by 9% while imports surged by 52%, and exports nearly ceased. Regulatory changes, including the new emissions trading legislation for solid fuels effective from January 1, 2024, and tightened distribution obligations, began to reshape the market environment.

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 t
  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 t
  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 t
  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. Exports
1. 6.1. Exports (Direct Data)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, K t
    1. 6.1.2.1. Annual dynamics of product's exports from Finland in kind, 2018-2024, K t
    2. 6.1.2.2. Dynamics of product's exports in kind from Finland by countries, 2018-2024, K t
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.1.3. Exports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Finland in value, 2018-2024, K $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Finland by countries, 2018-2024, K $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's exports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Finland, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's exports from Finland by countries, 2018-2024, $ US/t
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, K t
    1. 6.2.2.1. Annual dynamics of product's exports from Finland in kind, 2018-2024, K t
    2. 6.2.2.2. Dynamics of product's exports in kind from Finland by countries, 2018-2024, K t
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.2.3. Exports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Finland in value, 2018-2024, K $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Finland by countries, 2018-2024, K $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's exports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Finland, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's exports from Finland by countries, 2018-2024, $ US/t
7. Imports
1. 7.1. Imports (Direct Data)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, K t
    1. 7.1.2.1. Annual dynamics of product's imports to Finland in kind, 2018-2024, K t
    2. 7.1.2.2. Dynamics of product's imports in kind to Finland by countries, 2018-2024, K t
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.1.3. Imports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Finland in value, 2018-2024, K $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Finland by countries, 2018-2024, K $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's imports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Finland, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's imports to Finland by countries, 2018-2024, $ US/t
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, K t
    1. 7.2.2.1. Annual dynamics of product's imports to Finland in kind, 2018-2024, K t
    2. 7.2.2.2. Dynamics of product's imports in kind to Finland by countries, 2018-2024, K t
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.2.3. Imports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Finland in value, 2018-2024, K $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Finland by countries, 2018-2024, K $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's imports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Finland, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's imports to Finland by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K t
  2. 8.2.2. In value, K $ 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 pellets in Finland

In kind, 2017-2020, K t

From 2017 to 2020, Finland ranked as the 25th largest producer of wood pellets globally.

Top producers of wood pellets, 2017-2020

Source: SHEV.io

World map of production of wood pellets, 2017-2020

Source: SHEV.io

Finland's wood pellet production declined for the second consecutive year. In 2020, the country produced 322.0 K t of wood pellets, marking a modest decrease of 6.0% compared to 2019. Production peaked in 2018 at 384.9 K t, which represented the largest increase of 18.8% during the period. The most significant decline occurred in 2019, with an 11.0% drop.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	18.8%	(11.0%)	(6.0%)	(0.2%)

Source: SHEV.io

Exports wood pellets from Finland

Exports in kind, K t

The market displayed volatility during the observed period. Exports reached their lowest point in 2020 at 7.2 K t, showing a sharp decrease of 70.4% from the previous year. The peak was recorded in 2018 at 43.2 K t, which also saw the largest increase of 15.7%. Overall, exports varied by a factor of 6 between these years.

Annual dynamics of product's exports from Finland in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	15.7%	(43.7%)	(70.4%)	(42.3%)

Source: SHEV.io

Between 2017 and 2020, Finland's wood pellet exports in volume were heavily concentrated, with Denmark and Sweden together accounting for 99.6% of total flows.

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, K $ US

Market behavior was characterized by volatility in these years. Exports hit their lowest point in 2020 at 1 007 K $ US, reflecting a steep reduction of 80.0% year-over-year. The peak occurred in 2018 at 6 845 K $ US, which also experienced the largest increase of 43.4%. The gap between these years was 6.8-fold.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	43.4%	(26.5%)	(80.0%)	(40.5%)

Source: SHEV.io

From 2017 to 2020, Denmark and Sweden dominated Finland's wood pellet exports in value, concentrating 95.8% of the total, while the remaining share was distributed among other destinations with smaller individual contributions.

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 pellets to Finland

Imports in kind, K t

The market showed an unstable trend throughout the timeframe. Imports dropped to their minimum in 2019 at 62.9 K t, which saw the largest decline of 33.5%. They then climbed to a maximum in 2020 at 111.8 K t, amounting to a sharp uptick of 77.9% year-over-year. Overall, volumes shifted by a factor of 1.8 between these years.

Annual dynamics of product's imports to Finland in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	9.0%	(33.5%)	77.9%	8.8%

Source: SHEV.io

Between 2017 and 2020, Finland's wood pellet imports in volume were highly concentrated, with Russia accounting for 91.7% of total flows.

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, K $ US

Finland's cross-border shipments of wood pellets increased for the third consecutive year. In 2020, the country imported 15 982 K $ US of wood pellets, amounting to an advance of 7.7% versus the previous year. From 2017 to 2020, imports grew by 52.8%, equating to an annualized rate of 15.2%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	28.1%	10.7%	7.7%	15.2%

Source: SHEV.io

From 2017 to 2020, Russia played a leading role in Finland's wood pellet imports in value terms, with a share of 83.1% of total flows, while the remainder was distributed across other partners.

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