According to the latest statistics from TDUK, imports of major wood and panel products to the UK in 2022 will decrease by 2.4 million cubic meters to 9.3 million cubic meters compared with the same period of the previous year, a year-on-year decrease of 25.8%. Among them, this is mainly related to the reduction in cork imports.
Figures show UK softwood log imports in 2022 are down 25% from the record 2021 figure. Despite the sharp drop in volume value, the average cost of softwood imports rose by 7% due to already strong global demand.
Unlike softwood import data, the hardwood market in the UK will show a growing trend in 2022. Production in 2021 increased by 7%, and by 2022, UK hardwood imports totaled 576,000 cubic meters worth £433 million, making 2022 the best year for UK hardwood imports this century.
Since 2022, inflation in many European countries has risen sharply, triggering strikes by workers from all walks of life. For this reason, the construction industry, one of the largest consumers of wood, has had to delay the process. As a result, the demand for wood in the construction market has dropped sharply.
Economic forecasts improved towards the end of the year, however, as the government's measures to reduce inflation took hold temporarily. And although 2021 and 2022 are affected by global timber market demand and price fluctuations, the UK's timber imports fluctuate greatly in these two years, but in fact, since 2009, the average UK timber imports have gradually increased, and There are signs of long-term growth. Therefore, TDUK predicts a positive outlook for the timber industry in 2023.
Nick Boulton, head of technology and trade at TDUK, said: "In 2022, timber prices will slow from the dizzying highs of 2021, with high inflation and economic volatility hurting consumer confidence in key industries such as retail."
Environmental instability in the third quarter of 2022 has also dampened housing market sentiment, reducing housing starts and timber demand, he added. But as the progress of this year has gradually stabilized, local timber supply has remained at a stable level, and market demand has also been reported to be good in early 2023, which provides a lot of confidence for the UK timber market. wood168.net wood industry news center