What should you expect from the timber industry in 2022?
As some of you may know, last year was very up and down for the timber industry, with prices soaring due to lack of supply and extremely high demand. With this a few other factors along the way making things worse.
In Q3 of 2021, we saw the UK imports of construction materials increase by 10.7% compared to the previous quarter, as well as softwood import increase due to a larger range of countries importing such as Latvia, Finland and Germany who accounted for 1.1million m3 of the 1.8 million m3 of softwood imported in Q3 of 2021. For Hardwoods, Plywood’s, OSB & MDF there has also been a positive increase in supply compared to the year before. Whereas some goods may still be having problems due to high demand and transporting issues such as a shortage of HGV drivers, the industry has shown little effect since and according to many reliable news outlets, is in a strong position to meet its demands for 2022.
A quote from Nick Boulton, TTF Head of Technical and Trade Policy read:
“While we can see stock levels returning, the UK market is clearly in a different place compared to where it was two years ago, with the likes of HGV driver shortages, port delays and Brexit changes likely to continue to impact the market in the coming months. Despite these challenges, these past 21 months have proven that the timber supply chain is resilient. We are in a strong position to meet growing demand for sustainable, low-carbon construction materials – both now and in the future.”
Where this may seem very reassuring and may have you breathing a sigh of relief in hope that everything is finally getting back to normal, I would keep a close eye on the situation as it is ever-changing. Even though January and February may be the quieter months of the year due to cold weather, pre-planned projects for internal & external work may save costs in the long run as when the peak hits in early spring, the supply chain will once again be stricken by high demand and will cause the prices to shoot up slightly, yet again due to lack of supply compared to its demand.
Another factor which may cause businesses to shoot their prices up before the summer begins is energy prices rising in a similar fashion to the food & car industry. If this is to follow suit, then you may find yourself paying that bit extra when you could have saved by getting in there nice and early.
So why not beat the rush, get in early and plan ahead this year. Saving yourself some money and time meaning that you will be able to kick back and relax just in time for the summer heat.