Following an extraordinary year for the timber industry, Timber Development UK has released a market statement to provide greater clarity on the current supply and demand situation.
The market statement provides a detailed analysis of the past year, looking at the import and price statistics of 2021, as well as how recent events will impact inflationary trends in 2022.
One key takeaway from the statement is that the timber supply chain is resilient with 2021 proving to be a record year for imports despite significant disruptions to the market.
Import volumes in 2021 reached nearly 11.7 million m3 – a 15% increase on 2020. This is the largest volume of imports seen in the UK since 2008, reflecting strong demand for timber products.
With another year of significant disruption highly likely due to the invasion of Ukraine and economic sanctions against Russia and Belarus, communication across the supply chain will remain vital.
The report considers how the invasion will influence supply, demand and price, and recent market trends, with consideration given to construction forecasts for 2022.
The report is split into three sections looking at supply, demand and price.