TTF annual review shows UK wood market doing well

Wood consumption in the UK exceeded 16 million m3 in 2016 for the first time since the recession hit in 2008, according to newly-released figures from the annual Timber Trade Federation (TTF) Statistical Review.

The report also shows volumes increased by three per cent in 2016.

Europe was the UK’s single largest source of supply in 2016 by both volume and value. Imports and domestic timber together accounted for around 91 per cent of total supply. The Review shows UK imports grew by 4.4 per cent in 2016 over 2015, boosted by growth in particleboard (+12%), MDF (+9%) and softwoods (+6%).

Plywood imports increased nearly one per cent; hardwood imports fell around two per cent. UK timber and panel product exports remained a low of 500,000m3.

The UK timber industry, worth £9.6 Bn in 2015, compares favourably with many other industries, confirming its importance to the UK economy.

“In terms of the value of wood products consumed in the UK, the year 2016 was the best since before the recession and indeed was better than the pre-recessionary year of 2007,” said David Hopkins, managing director of TTF.

He concluded that there may be different and new challenges but the sector has had a long and mostly successful history of dealing with change.