Press release
Wood Bio-Products Market Anticipated To Witness Robust Growth, Surpassing $430.15 Billion By 2029
Wood Bio-Products
What Is the Current Wood Bio-Products Market Size and Its Estimated Growth Rate?
In recent years, we've seen a significant upswing in the size of the wood bio-products market. Projections indicate an increase from $279.96 billion in 2024 to $305.26 billion in 2025, with a compound annual growth rate (CAGR) of 9.0%. The historic growth is linked to factors such as rising demand for green and sustainable products, government backing for the creation of wood bio-products, heightened awareness of the environmental advantages of using fabricated wood products, and an increase in research and development endeavors.
Expectations are high for the wood bio-products market, anticipating a robust expansion in the upcoming years. The market is projected to reach a value of $430.15 billion by 2029, with a compound annual growth rate (CAGR) of 9.0%. Factors such as an escalated demand for furniture and flooring products, geographical growth, rising investments in wood bio-products, and heightened environmental consciousness are set to spur growth during the forecast period. Key trends during this period include enhancements in wood conversion technologies, the rise of biorefineries, technological innovations, collaborations and partnerships, and sustainability measures.
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How Are Emerging Segments Shaping the Wood Bio-Products Market Landscape?
The wood bio-products market covered in this report is segmented -
1) By Product Type: Biofuels, Bioplastics, Biochemicals, Biocomposites, Pulp And Papers
2) By Distribution Channel: Offline, Online
3) By Application: Energy, Packaging, Construction, Automotive, Chemicals
4) By End Use Industry: Residential, Commercial, Industrial, Infrastructure, Other End Use Industries
Subsegments:
1) By Biofuels: Wood Pellets, Liquid Biofuels, Biomethane
2) By Bioplastics: Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), Starch-Based Bioplastics
3) By Biochemicals: Lignin-Based Chemicals, Cellulose Derivatives, Bio-based Solvents
4) By Biocomposites: Wood Plastic Composites (WPC), Natural Fiber Composites
5) By Pulp and Papers: Kraft Pulp, Mechanical Pulp, Recycled Paper Products
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Which Growth Factors Are Influencing Wood Bio-Products Market Expansion?
An increase in demand for furniture and flooring products, combined with a shift towards sustainable materials, is driving the growth of the wood bio-products market. This market encompasses items such as tables, chairs, and sofas, as well as flooring materials like hardwood, laminate, and carpet that enhance both the aesthetic and practical echelons of indoor spaces. As a more eco-friendly choice, wood bio-products contribute to sustainability, while decreasing dependence on traditional materials. Similarly, using wood bio-products for maintaining furniture and flooring lends a natural and attractive finish. As an illustration, the U.S. Census Bureau reported in August 2023 that retail sales in furniture and home furnishings escalated to $12.53 billion in January 2023. This marked an increase from $11.73 billion in January 2021, signaling the growth potential for the wood bio-products market. Market Driver for Wood Bio-Products: Transformation of Construction Landscapes through Wood-Bio Products
Who Are the Dominant Players Across Different Wood Bio-Products Market Segments?
Major companies operating in the wood bio-products market are Stora Enso Oyj, UPM-Kymmene Oyj, Weyerhaeuser Company, West Fraser Timber Co. Ltd., Suzano S.A., UFP Industries Inc., Drax Group PLC, Georgia-Pacific LLC, Mondi Group, Sappi Limited, Canfor Corporation, Arauco Wood Products Inc., JELD-WEN Holding Inc., Domtar Corporation, BillerudKorsnäs AB, Metsä Group, Ekman & Co AB, Holmen AB, Kruger Inc., Enviva Partners LP, Södra Skogsägarna ekonomisk förening, Borregaard ASA, HS Timber Group GmbH, Verdo Renewables Ltd., Bio Diversity LLC.
What Are the Latest Developing Trends in the Wood Bio-Products Market?
Leading enterprises in the wood bio-products market are dedicating efforts to create innovative Lignin-based materials. This strategic move is aimed at reducing environmental damage, decreasing waste, and catering to the rising need for eco-friendly packaging alternatives. Taking this into account, Lignin Industries AB, a greentech firm based in Sweden, introduced Renol in June 2024. This useful product provides a renewable substitute to plastics derived from fossil fuels and can be utilized for industry purposes like ABS, PE, and PP. It is applicable to a range of sectors, from automotive to consumer electronics. Over half a decade, Renol has been designed to have a scalable production which is resource-efficient and significantly reduces CO2 emissions. Being produced in Sweden, it does meet the industry need for sustainable, high-quality materials.
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Which Geographic Regions Are Expected to Dominate the Wood Bio-Products Market in the Coming Years?
Asia-Pacific was the largest region in the wood bio-products market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in wood bio-products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Wood Bio-Products Market?
2. What is the CAGR expected in the Wood Bio-Products Market?
3. What Are the Key Innovations Transforming the Wood Bio-Products Industry?
4. Which Region Is Leading the Wood Bio-Products Market?
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