Market research

Wood pellets market in Portugal

Release date: Mar 29, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Earlier Report Observations

From 2018 to 2020, the Portuguese wood pellets market experienced significant volatility. After starting at 187 thousand tons in 2018, market volume surged to 311 thousand tons in 2019. This growth was followed by a decline to 278 thousand tons in 2020, coinciding with the implementation of updated waste management legislation (Decreto-Lei n.º 102-D/2020), which indirectly affected the industry by altering rules for packaging and industrial waste handling.

The market contraction continued into 2021, falling to 225 thousand tons, likely as an ongoing effect of the regulatory changes. However, in 2022, market volume recovered to 247 thousand tons, driven by increased global demand for renewable energy due to international climate agreements and rising fossil fuel prices. Portuguese producers such as Pinewells obtained ENplus A1 certification for domestic pellets, indicating advances in quality and standardization. By 2023, however, the market volume dropped sharply to 151 thousand tons.

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, 2018-2025
    3. 4.1.1.3. Exports, 2018-2025
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Portugal
  1. 5.1.1. Annual dynamics of production in Portugal in kind, 2018-2023, K t
  2. 5.1.2. Annual dynamics of production in Portugal 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 Portugal in kind, 2018-2025, K t
    2. 6.1.2.2. Dynamics of product's exports in kind from Portugal by countries, 2018-2025, K t
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 6.1.3. Exports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Portugal in value, 2018-2025, M $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Portugal by countries, 2018-2025, M $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2025
  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 Portugal, 2018-2025, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's exports from Portugal by countries, 2018-2025, $ 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 Portugal in kind, 2018-2025, K t
    2. 6.2.2.2. Dynamics of product's exports in kind from Portugal by countries, 2018-2025, K t
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 6.2.3. Exports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Portugal in value, 2018-2025, M $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Portugal by countries, 2018-2025, M $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2025
  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 Portugal, 2018-2025, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's exports from Portugal by countries, 2018-2025, $ 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 Portugal in kind, 2018-2025, K t
    2. 7.1.2.2. Dynamics of product's imports in kind to Portugal by countries, 2018-2025, K t
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 7.1.3. Imports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Portugal in value, 2018-2025, M $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Portugal by countries, 2018-2025, M $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2025
  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 Portugal, 2018-2025, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's imports to Portugal by countries, 2018-2025, $ 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 Portugal in kind, 2018-2025, K t
    2. 7.2.2.2. Dynamics of product's imports in kind to Portugal by countries, 2018-2025, K t
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 7.2.3. Imports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Portugal in value, 2018-2025, M $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Portugal by countries, 2018-2025, M $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2025
  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 Portugal, 2018-2025, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's imports to Portugal by countries, 2018-2025, $ 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, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K t
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2025
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 Portugal

In kind, 2018-2021, K t

On a global scale, Portugal ranked as the 13th largest producer of wood pellets between 2018 and 2021.

Top producers of wood pellets, 2018-2021

Source: SHEV.io

World map of production of wood pellets, 2018-2021

Source: SHEV.io

Portugal's wood pellet production declined for the second consecutive year. In 2021, the country produced 731 K t of wood pellets, marking a significant decrease of 14.9% compared to the previous year. Production peaked in 2019 at 1 008 K t, which also saw the largest annual increase of 37.1%.

Annual dynamics of production in Portugal in kind, 2018-2021, K t

Parameter		2019	2020	2021	CAGR
1	Change from last year	37.1%	(14.8%)	(14.9%)	(0.2%)

Source: SHEV.io

In value, 2018-2021, M $ US

Portugal's wood pellet production declined for the second consecutive year. In 2021, the output was valued at 115.7 M $ US, down by 13.9% from 2020. Over the 2018-2021 period, production increased by 5%, with a compound annual growth rate (CAGR) of 1.6%. The highest value was recorded in 2019 at 158.1 M $ US, which also experienced the largest annual increase of 43.5%. The most substantial decline occurred in 2020, with a drop of 15.0%.

Annual dynamics of production in Portugal in value, 2018-2021, M $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	43.5%	(15.0%)	(13.9%)	1.6%

Source: SHEV.io

Exports wood pellets from Portugal

Exports in kind, K t

Portugal's wood pellet exports declined for the second consecutive year. In 2021, exports totaled 507.7 K t, representing a 15.6% decrease compared to 2020. Over the 2018-2021 period, exports fell by 8.3%, with a compound annual growth rate (CAGR) of -2.9%. The peak was in 2019 at 709.0 K t, which also saw the largest annual increase of 28.0%.

Annual dynamics of product's exports from Portugal in kind, 2018-2021, K t

Parameter		2019	2020	2021	CAGR
1	Change from last year	28.0%	(15.2%)	(15.6%)	(2.9%)

Source: SHEV.io

Between 2018 and 2021, the United Kingdom (34.9% of exports in kind), Denmark (31.8% of exports in kind), and Spain (22.3% of exports in kind) were the main buyers of Portuguese wood pellets, collectively accounting for 89.0% of total exports in kind.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, M $ US

Portugal's wood pellet exports declined for the second consecutive year. In 2021, exports were valued at 80.3 M $ US, reflecting a solid decrease of 14.6% compared to 2020. Over the 2018-2021 period, exports decreased by 3.2%, with a compound annual growth rate (CAGR) of -1.1%. The highest value was recorded in 2019 at 111.2 M $ US, which also experienced the largest annual increase of 33.9%. The most significant decline occurred in 2020, with a drop of 15.4%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	33.9%	(15.4%)	(14.6%)	(1.1%)

Source: SHEV.io

From 2018 to 2021, the United Kingdom (33.2% of exports in value terms), Denmark (30.0% of exports in value terms), and Spain (25.6% of exports in value terms) together absorbed 88.8% of Portugal's total wood pellet exports in value terms, making them the primary destinations.

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

Source: SHEV.io

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

Source: SHEV.io

Imports wood pellets to Portugal

Imports in kind, K t

The market showed an unstable trend throughout the period. Import levels fluctuated significantly, with a 9.7-fold difference between the low of 2021 and the high of 2020. In 2021, Portugal's wood pellet imports were recorded at 2.1 K t, indicating a dramatic decrease of 89.7% compared to the previous year. The maximum volume was in 2020 at 20.6 K t, while the largest annual increase occurred in 2019 at 103.9%.

Annual dynamics of product's imports to Portugal in kind, 2018-2021, K t

Parameter		2019	2020	2021	CAGR
1	Change from last year	103.9%	74.8%	(89.7%)	(28.5%)

Source: SHEV.io

Between 2018 and 2021, Spain remained the key source for wood pellets imported into Portugal, accounting for 74.8% of total imports in kind, with other destinations playing a much smaller role.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, M $ US

There were noticeable fluctuations in market performance during the period. The span from 2020 to 2021 showed a peak-to-trough amplitude of 4.1 times. In 2021, Portugal's wood pellet imports stood at 0.8 M $ US, reflecting a sudden decrease of 75.8% year-over-year. The maximum value was recorded in 2020 at 3.1 M $ US, which also saw the largest annual increase of 122.5%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	70.2%	122.5%	(75.8%)	(2.8%)

Source: SHEV.io

From 2018 to 2021, Spain concentrated most of Portugal's wood pellet imports in value terms, taking 75.7% of total flows, while other markets contributed only a small fraction.

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

Source: SHEV.io

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

Source: SHEV.io