Learn More On The Wood Manufacturing Market’s Growth:
https://www.thebusinessresearchcompany.com/report/wood-manufacturing-global-market-report
The global wood manufacturing market size is expected to grow from $452.91 billion in 2022 to $465.31 billion in 2023 at a compound annual growth rate (CAGR) of 2.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global wood manufacturing market size is expected to reach $504.50 billion in 2027 at a CAGR of 2%.
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Product innovation is a key trend gaining popularity in the wood manufacturing market. Companies operating in the wood manufacturing market are innovating new products to sustain their position in the market. For instance, in May 2021, Desktop Metal, Inc., a US-based manufacturer of 3D printing systems, announced the launch of Forust, the first manufacturing process in the world to use additive manufacturing to recycle waste wood to create unique and opulent wood designs. A wooden item created by Forust has a digital grain that runs the length of it and can be polished or sanded. This software can digitally replicate every type of wood grain, including ash, rosewood, and mahogany.
The wood manufacturing market is segmented:
1) By Type: Millwork, Veneers, Engineered Wood Products, Wood Containers And Pallets, Manufactured Home, Other Types
2) By Application: Domestic, Commercial
3) By End User: Construction, Furniture, Packaging And Joinery Industries, Other End Users
Asia-Pacific was the largest region in the wood manufacturing market in 2022.
The table of contents in TBRC’s wood manufacturing market report includes:
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