Since 2021, cork timber is in high demand in the United States and Europe. Limited supply caused temporary prices to soar to record highs in the spring, before falling sharply in early summer. Over the next decade, the timber demand outlook is likely to be strong in most regions of the world, including North America and Asia. Both regions have long relied on imported timber.
Few countries in the world have been able to significantly expand their timber exports and Europe will play an increasingly important role in the future as a timber supplier. The tightening of the timber market will affect not only the sawmill industry, but also forest owners, pulp companies, timber manufacturers and pellet producers.

The United States is the world's largest timber market and is heavily dependent on imported timber. Imports have been about 30 per cent of consumption for the past decade. Demand in the US is expected to continue to grow over the long term, largely because of solid consumption of new homes and wood products in the repair and renovation sector.

American imports from Canada have declined over the past five years, with European timber largely filling the gap. Canadian supplies will be further constrained in coming years due to the long-term effects of the mountain pine beetle in British Columbia. So as demand grows and Canadian imports level off, the U.S. will increasingly rely on European imports.
Asia is a fast-growing market for softwood, with China in particular driving growth. Other Asian countries (such as India, Vietnam, Australia and Southeast Asia) are likely to grow from low levels, while Japanese timber imports are on a downward trend. China's timber demand is expected to continue to grow by more than 5 per cent through 2025. There are strong underlying demand trends in all market segments, and the Chinese economy is expected to rebound rapidly from the slowdown in the outbreak in late 2021 and 2022.
Europe is a major producer of softwood timber, accounting for almost half of global exports. As the new focus report reveals, the continent's sawmills will play an increasingly important role in global export markets in the future. Factors such as sawnwood supply and cost will determine which European countries can seize this opportunity.