44 | Sector Focus: North America
SUMMARY
■The US hardwood sector exported 6% more in 2024 over 2023
■Within exports to Europe, gains in white oak and red oak were partially offset by declines in ash, hickory and maple
■The UK accounted for 39% of all US hardwood lumber exports to Europe in 2024
US HARDWOODS GAIN EUROPEAN SHARE
The UK extended its lead as the biggest European market for US hardwoods in 2024, reports Rupert Oliver, American Hardwood Export Council Europe environmental policy director
The US exported 329,500m3 of hardwood
lumber with a total value of US$226.9m to Europe in 2024. Export quantity was 6% more than the previous year, while export value fell by 1%. The gain for US hardwoods bucked a wider downturn in European imports of hardwood lumber. US share of total EU27+UK imports of sawn hardwood from outside the region was 22% in 2024, up from 19% the previous year and 15% in 2019. The rebound in US exports to Europe in 2024 followed a 34% decline the previous year when markets cooled dramatically from the heights of the Covid boom in 2021-22. The gain last year was achieved despite a backdrop of continuing slow GDP growth in the region. EU GDP increased by 0.8% in 2024, while the UK economy grew by 0.9%. Construction activity declined continuously in the eurozone throughout the year, while construction activity in the UK increased by just 0.4% in 2024.
Considering individual species exports to Europe in 2024, gains in white oak (+14% to 156,800m3
) and red oak (+15% to 49,300m3
and maple (-25% to 2,900m3 (66,000m3
), hickory (-13% to 4,200m3 ). Tulipwood
) )
were partially offset by declines in ash (-21% to 20,370m3
) and walnut (18,000m3 ) were at the Above: UK imports of US hardwoods continued to grow in the first two months of 2025 TTJ | May/June 2025 |
www.ttjonline.com
same level as the previous year. The recovery in US hardwood lumber exports to Europe in 2024 was concentrated in the UK. Exports to the UK were 128,500m3 during the year, 20% more than in 2023. The UK accounted for 39% of all US hardwood lumber exports to Europe in 2024, up from 34% in 2023. US exports of white oak to
the UK were 76,700m3 in 2024, an increase
of 50% over the previous year. Although imports of white oak were up, the UK market was very competitive in 2024, with generally poor profit margins as buyers were shopping around for the best deal. While red oak has become more accepted in the UK with more importers carrying stock in response to a growing demand, exports last year were down 20% to 4,570m3
. Exports of other US
hardwood species to the UK also slowed last year, including tulipwood (-10% to 25,000m3 ash (-13% to 8,100m3 7,600m3
), and walnut (-10% to ).
US hardwood lumber exports to Ireland were up 20% to 15,900m3
in 2024, driven,
as in the UK, by white oak which increased 84% to 8,000m3
. Imports of tulipwood and
red oak were down, but ash and walnut were up from a small base. Ireland’s GDP increased by around 0.3% last year – the slow pace of growth mainly due to volatility in the multi-national corporate sector. Other areas of the Irish economy were performing well in 2024 as inflation eased and the labour market was strong. Importers reported reasonable demand during the year while also noting that the market was highly competitive. Some importers were discounting stock to free up cash, which was eroding profit margins. While total European imports of hardwood lumber from the US made moderate gains in 2024, imports of this hardwood lumber from other parts of the world were declining sharply. Total EU+UK imports of hardwood lumber from outside this region fell 9% to 1.46 million m3
during the year. Imports of ),
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