Asia has increased its share of global wood pellet imports to a record 32%. Worldwide trade of wood pellets was practically unchanged year-over-year compared to 2022. This was the first-time shipments failed to rise since 2017 when wood pellets became a globally traded commodity. …Asia, represented by Japan and South Korea, has continued to grow import volumes at the expense of European buyers. In 4Q 2022, this accounted for one-third of the world’s import volume—up from only 18% five years ago. Demand for biomass, including wood pellets, has increased remarkably quickly in Japan. …Japan will be the fastest-growing market in the world in the next 5-10 years. …The US’s woodchip exports have increased by about 40% in the past two years to reach an all-time high in 2022. The overseas shipments represented 73% of total shipments, up from 45% in 2020 and driven by higher demand for softwood fiber by Asian pulpmills.