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Wood Products: A Leading Driver Behind Rising Demand For Furniture Driving Growth In The Wood Products Market Market Expansion in 2025
Wood Products Market
What Will the Wood Products Industry Market Size Be by 2025?
The wood products market has witnessed strong growth in recent years. Its size will rise from $835.64 billion in 2024 to $888.84 billion in 2025, reflecting a CAGR of 6.4%.
What's the Long-Term Growth Forecast for the Wood Products Market Size Through 2029?
Anticipations indicate a robust expansion of the wood products market in the upcoming years, with its valuation edging towards $1159.94 billion in 2029, courtesy of a compound annual growth rate (CAGR) of 6.9%. The predicted augmentation in the forecast period is the consequence of the promising growth in emerging markets, low-interest rates, the rise in global population, a surge in demand for cruise ships, and an upswing in residential construction operations. The forecast period also envisages some key trends including adopting tracking and tracing technologies to improve credibility among stakeholders, utilization of biodegradable chemicals for wood preservation, the adoption of computer-aided manufacturing techniques to boost plant productivity and efficiency, the practice of refraining from using wood procured from endangered trees, provision of custom-made engineered wood products in line with the growing emphasis on sustainability, and integration of automation and robotics technologies to enhance production efficiency. Further attention will also be given to developing new and improved methods in logging in order to increase the volume of wood acquired with less harm done to the remaining trees.
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What Are the Key Growth Drivers Fueling the Wood Products Market Expansion?
The wood products market is likely to flourish due to increasing furniture demand. Factors propelling furniture demand include urbanization, elevated disposable income, prevailing home refurbishing trends, and growing favoritism for sustainable and tailor-made designs. Furniture encompasses portable items meant to aid diverse human activities like seating, such as chairs and sofas, sleeping with items like beds, working on objects like desks, and storing items in cabinets and wardrobes. Essential for manufacturing furniture, wood products offer durability, aesthetic charm, and sustainability necessary to craft numerous stylish and practical pieces enhancing both residential and commercial settings. For example, the Furniture Industry Research Association, a UK-based furniture association, stated in February 2024 that the UK furniture manufacturing and furnishing section's total turnover in 2022 was $ 11.35, witnessing a rise of 9.2 % from the previous year, generated by 6,880 firms. Hence, the surge in furniture demand is propelling the wood products market.
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What Are the Key Trends Driving Wood Products Market Growth?
The rise in need for transparent supply chains and strict government regulations within the timber industry has triggered the use of tracking and tracing technologies. Numerous lumber companies are adopting their own tracking systems to uphold transparency within their timber supply chains. The shift from paper-based systems to electronic tracking is evident among lumber companies and government institutions, utilizing radio-frequency identification chips, barcodes and sophisticated traceability software. For example, the Forest Stewardship Council, a prominent non-profit organization, has created an Online Claims Platform for providing up-to-date information about its products and the companies that manufacture them, available free of charge to FSC certificate holders. This facilitates a digital linkage between FSC-endorsed suppliers and their clientele.
How Is the Wood Products Market Segmented?
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 Companies Are Leading the Charge in Wood Products Market Innovation?
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 Are Leading the Global Wood Products Market in Revenue?
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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