Wood Processing market forecast 2023-2032 - major trends, lucrative segments and fastest growing regions

As per The Business Research Company's Wood Processing Opportunities And Strategies Market Report 2023, The global wood processing market grew from $113.10 billion in 2017 to $142.89 billion in 2022 at a compound annual growth rate (CAGR) of 4.8%. The market is expected to grow from $142.89 billion in 2022 to $195.18 billion in 2027 at a CAGR of 6.4%, and to $264.14 billion in 2032 at a CAGR of 6.2%.

The increasing concerns with respect to global warming and climate change have significantly shifted consumer preferences towards eco-friendly furniture, which has enabled manufacturers to develop furniture using eco-friendly materials. This helps wooden furniture manufacturers to gain a competitive edge in the market. The COVID-19 pandemic has pushed the work-from-home culture by businesses around the world, supporting the growth of the furniture sector. In India, for instance, the work-from-home furniture market is anticipated to grow at a CAGR of 12.91% from 2016 to 2023. Along with the environmental concerns, consumer demand for modular and elegant furniture is also driving the demand for wooden furniture across rural and urban areas, benefiting the wood processing market's growth. For example, in 2020, BecoStay, a rental start-up, introduced eco-friendly homes with 100% wooden furniture. Greenington, a US-based furniture company, also launched a division of elegant and eco-friendly outdoor furniture which is built entirely in solid bamboo.

View Complete Report @
https://www.thebusinessresearchcompany.com/report/wood-processing-market

Major wood processing companies are using tracking and tracing systems to maintain transparency in the supply chain. The tracking and tracing technologies help in providing insight and assistance in managing the flow of material and in the detection and prevention of any illegal activity during the process. For example, in February 2020, DoubleHelix, a US-based company operating in wood products, partnered with Sourcemap, a US-based company that provides solutions for supply chain transparency and traceability, and Bluenumber, a Malaysia-based company that helps businesses trace their supply chains. The partnership aimed at creating a new Timber Traceability Platform which provided a comprehensive set of services, including traceability, verification and display in a visually beautiful database visualization. The Timber Traceability Platform helps customers trace the source of the wood products provided to them.

Opportunities -The top growth potential in the wood processing market by type will arise in the sawmills segment, which will gain $33.96 billion of global annual sales by 2027. The top growth potential in the wood processing market by end-user industry will arise in the residential segment, which will gain $28.04 billion of global annual sales by 2027. The wood processing market size will gain the most in China at $10.0 billion.

Wood Processing Market Segmentation:
The Wood Processing market is segmented

By Type -
The wood processing market is segmented by type into
a) Sawmills
b) Wood Preservation

By End-User Industry -
The wood processing market is also segmented by end-user industry into
a) Residential
b) Commercial And Industrial
c) Infrastructural
d) Other End-User Industries

By Geography - The wood processing market is segmented by geography into

Major players in the Wood Processing market include Canfor Corporation, West Fraser Timber Co. Ltd., Interfor Corporation, UPM-Kymmene Oyj, Weyerhaeuser Company

The regions covered in the global Wood Processing market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Download FREE SAMPLE Report -
https://www.thebusinessresearchcompany.com/sample_request?id=2920&type=smp

The latest report from The Business Research Company, 'Global Wood Processing Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Wood Processing Market Report Table Of Content

1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
……………………………………………………
24. Key Mergers and Acquisitions
25. Market Background: Wood Products Market
26. Opportunities And Strategies
27. Wood Processing Market, Conclusions And Recommendations
28. Appendix

PURCHASE the report @
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=2920

Get to know us better:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info

LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/

This release was published on openPR.