Timber demand in Europe fluctuated significantly in 2024, driven by economic, political and environmental factors Timber demand in Europe fluctuated significantly in 2024, driven by economic, political and environmental factors.

The European timber market is estimated to have reached USD 67.8 billion in 2024, with a compound annual growth rate (CAGR) of 0.79% between 2024 and 2029. Global timber production is around 4 billion m³ annually, with Europe contributing significantly to this figure.

In August 2024, the HPE Wood Price Index increased by 0.9% compared to the previous month, recording an overall increase of over 18.3% in 2024 and 20.6% compared to the previous year. OSB prices rose 2.3% in August 2024, almost reaching the previous year`s level.

Residential construction remained stable in 2024 at around 1.4 million units, rising to 1.5-1.6 million in 2025, thus influencing lumber demand. Renovation spending remains above average, driven by high interest rates, aging housing stock, and the trend toward working from home.

Wood imports from Europe remain strong, despite disruptions caused by the Russia-Ukraine conflict. Timber prices are expected to increase slightly in 2025, amid high costs.

These data provide wood industry professionals with insight into the dynamics of the European timber market, highlighting the importance of continuously monitoring economic trends and trade policies to navigate this ever-changing sector effectively.


Sources:

1. Customcy.com

2. Kronus.eu


3. Farmcrediteast.com

4. Statista.com