The Global Finished Wood Product Market Is Expected To Grow To $1.5 Trillion By 2021 According To TBRC’s Latest Report

The finished wood products manufacturing market include establishments engaged in manufacturing other wood products such as wooden windows and doors, cabinets, kitchenware and wooden mobile homes and other products. It can be segmented into the wood window and door manufacturing, cut stock, resawing lumber, and planning, manufactured home (mobile home) manufacturing, prefabricated wood building manufacturing, and other millwork (including flooring).

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The substantial reason for the growth of the finished goods product market from $1.1 trillion in 2017 to $1.5 trillion by 2021 is automation and improved technology, leading to faster and efficient production. Asia Pacific was the largest region in the finished wood products market in 2017, accounting for half of the market share.

The finished goods product market in The Business Research Company’s report is split into four segments. Millwork comprises of half of the market share, followed by wood pallets & skids production and prefabricated home manufacturing equally splitting thirty percent of the market share. Wood product manufacturing takes the remaining ten percent share of the market.

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China was the largest country in the finished wood products market in 2017, accounting for near about one-fifth of the market share. This was mainly due to the economic growth in the country, giving rise to the housing, recreation, and manufacturing industries. China was followed by India and Brazil.

The top four competitors of the market are LIXIL Group, JELD-WEN Inc., International Corporation and Pella Corporation. LIXIL was the largest company in the market in 2017. It is engaged in the manufacture of building materials and housing equipment. The company is headquartered in Tokyo, Japan. It operates through divisions like water technology, housing technology, building technology, kitchen technology, distribution & retail and housing & services.

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