Wood products refer to items derived from wood, a versatile and renewable natural resource. This market includes lumber, plywood, veneers, wood containers, wood flooring, wood trusses, prefabricated homes, prefabricated wooden buildings and other wood products.
The wood products market consists of sales of wood products by entities (organizations, sole traders and partnerships) that produce or make products derived from wood.
The global wood products market was valued at $559.95 billion in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 7.00%.
Rising Disposable Income
Rising disposable income fueled the growth of the wood products market during the historic period. As consumers' disposable income rises, they are more inclined to invest in higher-quality, durable goods, including furniture, home improvements and construction materials, which often utilize wood. Higher income levels also lead to an increased rate of homeownership and renovation activities, further boosting the demand for wood-based products. For instance, according to the Bureau of Economic Analysis (BEA), a US-based government agency that provides official macroeconomic and industry statistics, disposable personal income per capita in the United States increased to $61,047 in November 2023 from $57,339 in November 2022. Additionally, in February 2023, according to estimates from the National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI), India's per capita net national income was INR 172,000 ($2,077.35). This is a nearly 100% increase over the INR 86,647 ($1,046.49) per capita income in 2014-15. Therefore, rising disposable incomes drove the growth of the wood products market.
Thermally Modified Wood Products To Meet The Demand For High Quality Building Materials
Companies in the wood products market are deploying flagship portfolios of thermally modified building materials to enhance durability, improve performance and offer superior resistance to environmental factors, thereby meeting the growing demand for high-quality and sustainable construction solutions. For instance, in June 2024, Spartan Forest Products, a US-based company that supplied a variety of lumber, panels and building products, launched ThermaPro Wood, a portfolio of thermally modified building materials. This collection of prefinished, installation-ready building materials is entirely sustainable, weatherproof and devoid of chemicals. Designed for those who prefer natural, sustainable building materials, ThermaPro Wood offers an eco-friendly, longer-lasting alternative to chemically and pressure-treated wood products. Thermal modification, a chemical-free procedure, renders wood hydrophobic thereby eliminating issues such as cupping, cracking, warping, or rotting over time.
The global wood products market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 4.91% of the total market in 2023.
Wood Products Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global wood products market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for wood products? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The wood products market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider wood products market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by distribution channel and by application.
- Product Analysis The product analysis section of the report describes the leading products in the wood products market, along with key features and differentiators for those products.
- Supply Chain The supply chain section of the report defines and explains the key players in the wood products industry supply chain.
- Customer Information The chapter covers recent customer trends/preferences in the global wood products market.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the wood products market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by distribution channel and by application in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for wood products providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Type: Finished Wood Products; Wood Processing; Manufactured Wood Materials
- 2) By Distribution Channel: Offline; Online
- 3) By Application: Residential; Commercial And Industrial
- Companies Mentioned: Georgia-Pacific Corporation; West Fraser Timber Co Ltd; Weyerhaeuser Company; EGGER Group; Resolute Forest Products
- Countries: China; Australia; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam, Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Brazil; Mexico; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Chile; Argentina; Colombia; Peru; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; wood products indicators comparison.
- Data segmentations: Country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.