Rising Demand For Furniture Driving Growth In The Wood Products Market: Core Growth Enabler in the Wood Products Market, 2025

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What Is the Expected CAGR for the Wood Products Market Through 2025?
In the past few years, the size of the wood products market has significantly expanded. It's projected to rise from $854.99 billion in 2024 to $923.13 billion in 2025, showing a compound annual growth rate (CAGR) of 8.0%. The expansion witnessed in the previous period is largely due to the vigorous growth of emerging markets, rock-bottom interest rates, an increase in the global population size, a surge in demand for cruise ships and an upswing in the activities of residential construction.

What's the Projected Size of the Global Wood Products Market by 2029?
A significant surge is expected in the wood products market size in the coming years, with a projected worth reaching $1215.03 billion in 2029, at a CAGR of 7.1%. The cause behind this predicted growth during the forecast period can be owed to the robust growth of emerging markets, low-interest rates, an increase in the global population, raising demand for cruise ships, and an uptick in residential construction activities. The period is also likely to see key trends like the adoption of tracking and tracing technology to build trust among stakeholders, use of environmentally friendly chemicals for wood preservation, employment of computer-aided manufacturing technologies for boosting plant productivity and efficiency, disregard of utilizing wood from endangered trees, provision of tailored engineered wood products to accede to the mounting focus on sustainability, inclusion of automation and robotic technologies for bolstering production efficiency and emphasizing the use of novel and improved methods in log harvesting to raise wood volume while minimizing residual damage.

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Top Growth Drivers in the Wood Products Industry: What's Accelerating the Market?
The surge in furniture requirements is projected to boost the wood products market expansion. The increasing need for furniture can be attributed to several factors like urbanization, a rise in disposable income, home renovation practices, and the burgeoning trend for sustainable and customizable design options. Furniture, referring to movable items that aid in various human activities such as sitting (including chairs and sofas), sleeping (like beds), working (involving desks), and storing (encompassing cabinets and wardrobes), invariably make use of wood products. These wood products, reckon for its durability, visual attraction, and sustainability, have become indispensable in constructing a stylish and efficient variety of items that enhances both residential and commercial spaces. For instance, as per the data compiled by the Furniture Industry Research Association, a UK-based furniture association, the total revenue produced by the UK furniture manufacturing and furnishing sector was $ 11.35 in 2022, representing an upswing of 9.2 % from the preceding year, earned from 6,880 companies. Consequently, the growing need for furniture dictates the growth of the wood product market.

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What Trends Will Shape the Wood Products Market Through 2029 and Beyond?
Rising demands for transparency in supply chain and strict government rules aimed at the wood industry have necessitated the adoption of tracking and tracing technologies. Numerous timber enterprises have deployed their own tracking systems to ensure supply chain transparency. Electronic tracking systems are now favoured by wood companies and government bodies over paper-based systems, with technologies such as radio-frequency identification chips, barcodes, and superior traceability software in use. For example, the Forest Stewardship Council, a prominent non-profit group, has created an Online Claims Platform which provides FSC's products and their producers' timely information, free of cost to FSC certificate holders. This facilitates a digital link between FSC-certified suppliers and consumers.

What Are the Main Segments in the Wood Products Market?
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

Subsegments:
1) By Finished Wood Products: Furniture, Cabinets, Flooring, Decorative Wood Items
2) By Wood Processing: Sawn Timber, Wood Chipping, Wood Pellets, Wood Preservation
3) By Manufactured Wood Materials: Plywood, Oriented Strand Board (OSB), Medium-Density Fiberboard (MDF), Laminated Veneer Lumber (LVL)

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Which Top Companies are Driving Growth in the Wood Products Market?
Major companies operating in the wood products market include 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., 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

Which Regions Will Dominate the Wood Products Market Through 2029?
Asia-Pacific was the largest region in the wood products market in 2024. 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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