Overview and Scope
Wood products refer to a collective term for all the goods and furniture manufactured from wood, including tables, chairs, beds, sofas, countertops, cutting boards, and other products.
Sizing and Forecast
The wood products market size has grown strongly in recent years. It will grow from $750.14 billion in 2023 to $805.03 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to strong emerging markets growth, low interest rates, growth in world population, increasing demand for cruise ships and growth in residential construction activity.
The wood products market size is expected to see strong growth in the next few years. It will grow to $1054.43 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to strong emerging markets growth, low interest rates, growth in world population, increasing demand for cruise ships and growth in residential construction activity. Major trends in the forecast period include implementing tracking and tracing technology to enhance its credibility among its stakeholders, using biodegradable chemicals for wood preservation, deploying computer aided manufacturing technologies to increase plant productivity and efficiency, avoid using wood obtained from harvesting endangered trees, offer customized engineered wood products to cater to the increasing focus towards sustainability, integrate automation and robotics technologies to enhance production efficiency and focus on incorporating new and improved techniques in harvesting logs to increase wood volume with less residual damage.
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Segmentation & Regional Insights
The wood products market covered in this report is segmented –
1) By Type: Finished Wood Products, Wood Processing, Manufactured Wood Materials
2) By Distribution Channel: Offline, Online
3) By Application: Residential, Commercial
Top 5 Major Players:
- Weyerhaeuser Company,
- West Fraser Timber Co Ltd.,
- Canfor,
- Celulosa Arauco y Constitución,
- Interfor
Asia-Pacific was the largest region in the wood products market in 2023. North America was the second largest region in the wood products market. The regions covered in the wood products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The wood products manufacturing market is expected to benefit from steady economic growth forecasted for many developed and developing countries. According to the International Monetary Fund (IMF), the global GDP growth reached 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a decline in the historic period is further expected to be a significant factor driving economic growth. The US economy is expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Greater economic growth is likely to drive public and private investments, joint ventures, and foreign direct investments in the end-user markets, thereby driving the market during forecast period.
Key Industry Players
Major companies operating in the wood products market report are Weyerhaeuser Company, West Fraser Timber Co Ltd, Canfor,Celulosa Arauco y Constitución, Interfor., Syktyvkar Plywood Mill LTD, Boise Cascade Company, RSH Forest Products, Georgia-Pacific Corporation, Andersen Corporation, Jilin Sen Workers’ Forming Group Co., Ltd, Xuzhou Mega Industries Ltd, Linyi Haisen Wood Co., Ltd., Tilhill Forestry, Cuzi Wood Industry, Shreeji Woodcraft Pvt. Ltd., AmandusKahlGmbh& Co., Kg Century Plyboards India Ltd, Greenply Industries Ltd, Koohei Bussan Co., Ltd., Singla Timbers, Steelcase, Oji Group, Cross Trade GmbH, Komatsu Forest GmbH Caledonian Plywood Company Ltd, Hanson Plywood, Garnica Plywood Samazan, IMCA Panels, TengNuo., Chanta Group.,, JAF. Wood, EGGER (UK) Limited, Scottish Woodlands Ltd, James Jones and Sons Limited (UK), Metsähallitus Forestry Ltd (Finland), ATA Timber (Sweden), Bergs Timber AB (Sweden), Segezha Group, Toll Maderas S.R.L., Holmen Timber, HolzindustrieMaresch GmbH Stora Enso Oyj, Wood, Taeda SA, Plyterra Group, Shanghai Sindo Panel Company Ltd, Conifex Timber Inc., Stora Enso, HNI Corporation, Herman Miller, RTS Forestry (UK), Resolute Forest Products, PotlatchDeltic Corporation, Berneck, Araupel, Linea Parana MadeirasLtda, Imaribo, Templin OHG, United Forest Products, Estancias San Francisco S.A, Middle East Wood, MaziOrmanUrunleri Ltd., DastasDemirciogluAgac A.S., Yalong Wood, S&J Wood, Daco Parquet Factory AS, Kartonsan, Gabon Veneer, Merensky, Miro Forestry and Timber Products, UPM-KymmeneOyj, Afeefa Overseas Sarl Gabon, Komaza, Alitco Group
The wood products market report table of contents includes:
1. Executive Summary
2. Wood Products Market Characteristics
3. Wood Products Product/Service Analysis -Product/Service Examples
4. Wood Products Market Trends And Strategies
5. Wood Products Market – Macro Economic Scenario
…
68. Global Wood Products Market Competitive Benchmarking
69. Global Wood Products Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Wood Products Market
71. Wood Products Market Future Outlook and Potential Analysis
72. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Wood Products Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Wood Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Wood Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 144: Weyerhaeuser Company, West Fraser Timber Co Ltd, Canfor,Celulosa Arauco y Constitución, Interfor. Financial Performance
Table 145: Syktyvkar Plywood Mill LTD Financial Performance
Table 146: Boise Cascade Company Financial Performance
Table 147: RSH Forest Products Financial Performance
Table 148: Georgia-Pacific Corporation Financial Performance
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