Global Wood Processing Market Analysis and Forecast, 2019-2030

The global wood processing market is expected to grow at a CAGR of around 3.9% during the forecast period of 2023-2030 and is estimated at US$ 157.8 billion in 2023.

The market for wood processing is anticipated to expand due to the rising demand for wooden furniture. Logging, sawmilling, veneer production, plywood manufacturing, and other operations with value-added are just a few of the important activities involved in the wood processing business.

Wood products are widely used in the building sector, particularly for furniture, interior finishes, and structural applications. The demand for housing and infrastructure rises along with the world population, increasing the demand for wood-based building materials. The demand for wooden furniture is predicted to rise, and this demand, along with expansion in the building, housing, and interior design industries, will likely boost the market for wood processing. In order to address the growing demand for certified and ecologically friendly wood products, wood processing businesses are expected to embrace ethical practices as the significance of sustainability and eco-friendly materials increases.

Use of Tracking and Tracing Technology Accelerate Wood Processing Market Growth

The market for wood processing is anticipated to grow substantially faster with the usage of tracking and tracing technology. The wood processing business can benefit from a number of advantages that improve efficiency, transparency, and sustainability.

Real-time monitoring of the entire supply chain, from the forest to the finished good, is made possible through tracking and tracing technology. Stakeholders may get a complete picture of the path of the wood by employing technology like RFID (Radio Frequency Identification) tags, barcodes, and GPS tracking, assuring transparency and accountability at every step. Wood’s provenance may be verified, and it can be ensured that it comes from sustainably managed and legally harvested forests, using tracking and tracing technology. In order to achieve sustainability goals and adhere to certifications like the Forest Stewardship Council (FSC) or Programme for the Endorsement of Forest Certification (PEFC), this competence is essential.

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North America Significantly Drives Global Wood Processing Market Growth

Due to the considerable need for wood products across numerous industries, such as building, furniture, and paper, North America has been a prominent market for wood processing. The wood processing market has grown as a result of the region’s cutting-edge wood processing technology and well-established forest management techniques. The focus on certified wood products and sustainable sourcing has also increased demand for ethically harvested wood in North America.

Another significant market for wood processing is Europe, which is home to important firms in the sector such as Germany, Sweden, and Finland. Market expansion has been aided by the region’s strong furniture manufacturing industry and the demand for premium wood products. The adoption of sustainable forest management techniques and the use of monitoring and tracing technology to guarantee the sustainability and legality of wood products have both been pioneered by European nations.

Market Structure and Competitive Landscape

The global wood processing market is fragmented in nature with the presence of various players operating in the market. Some of the prominent players operating in the wood processing market include West Fraser Timber Co Ltd, Canfor Corporation, upm-kymmene oyj, UFP Industries Inc, Interfor Corporation, Sierra Pacific Industries Inc, Koppers Inc, Northwest Hardwoods Inc, Svenska Cellulosa Aktiebolaget, and Marubeni, among others.

Key Market Segmentation

RationalStat has segmented the global wood processing market based on type, end user, and region.

• By Type
  • Sawmills
  • Wood Preservation
• By End User
  • Residential
  • Commercial and Industrial
  • Infrastructural
  • Others
• By Region
  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Western Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • Rest of Eastern Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • ASEAN (Indonesia, Vietnam, Malaysia, etc.)
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Turkey
    • Rest of the Middle East & Africa

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Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

Secondary Sources

• Annual reports, company filings, investor presentations, product catalogs, and company documents
• Industry and market-related documents available in the public domain
• Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
• Whitepapers, research papers, and industry blogs.

Why Buy this Report?

The report is intended for manufacturers, raw material suppliers, third-party distributors, construction industry players, government organizations, research institutes, educational organizations, regulatory agencies, and market research firms, among others. The report provides an in-depth analysis of market size, consumption patterns, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.

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