Press release
Wood Processing Market: Soaring Demand For Furniture, Use of AI and Tracking Technology Redefines the $293.91 Billion Industry by 2029
Wood Processing Market Size
What Is The Projected Market Size Of The Global Wood Processing Market And Its Growth Rate?
The wood processing market has seen impressive growth in recent years and shows promising potential for the future:
•The market size in 2024 stood at $210.16 billion and grew to $226.22 billion in 2025, reaching a CAGR of 7.6%.
•The market is forecasted to grow to $293.91 billion in 2029, with a CAGR of 6.8%.
What Is Driving The Growth In The Wood Processing Market?
The driving force behind the growth of the wood processing market is the rising demand for furniture. Factors such as urbanization, increased disposable income, home renovation trends, and the growing popularity of sustainable and customizable designs have propelled the demand for furniture. The wood processing industry provides high-quality raw materials for furniture manufacturing, facilitating the production of diverse and aesthetically pleasing furniture pieces. For instance, according to the Furniture Industry Research Association, the total turnover of the UK furniture manufacturing and furnishing sector in 2022 was $11.35, an increase of 9.2% from the previous year.
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Who Are the Key Players Driving Wood Processing Market Growth?
The wood processing market is commanded by various key players, including:
•Canfor Corporation
•West Fraser Timber Co. Ltd.
•Interfor Corporation
•UPM-Kymmene Oyj
•Weyerhaeuser Company
•Sierra Pacific Industries, Inc
•Western Forest Products Inc
•UFP Industries, Inc
•Georgia Pacific
•Svenska Cellulosa Aktiebolaget
•And many others.
What Are The Key Trends In The Wood Processing Market?
Key trends in the wood processing market include:
•Use of tracking and tracing technology in timber processing
•Use of artificial intelligence (AI) in wood processing
•Adoption of image processing systems in factories
•New product launches
•Focus on strategic partnerships
•Investments and mergers and acquisitions
What Are The Segments Of The Global Wood Processing Market?
The global wood processing market is divided into two main segments:
•Sawmills
•Wood Preservation
Which Region Leads The Wood Processing Market?
In 2024, Asia-Pacific was the largest region in the wood processing market, followed by North America. The regions covered in the wood processing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What Is Covered In The Wood Processing Market Global Market Report?
- Market Size Analysis: Analyze the Wood Processing Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Wood Processing Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Wood Processing Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Wood Processing Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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