New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wood Manufacturing Global Market Report 2023" - https://www.reportlinker.com/p06466513/?utm_source=GNW
, SCHNEIDE GmbH, Pfeifer Holz GmbH, Weyerhaeuser Company, Novawood AS, and Andersen Corporation.
The global wood manufacturing market is expected to grow from $452.91 billion in 2022 to $465.31 billion in 2023 at a compound annual growth rate (CAGR) of 2.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The wood manufacturing market is expected to reach $504.50 billion in 2027 at a CAGR of 2%.
The wood manufacturing market consists of sales of plywood, sawn wood, and fiberboard.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Wood manufacturing refers to the process of converting raw wood materials into finished wood products through various stages of production. It involves the use of machinery, equipment, and skilled labor to transform wood logs, lumber, or other wood materials into a wide range of wood products used for various purposes.
Asia-Pacific was the largest region in the wood manufacturing market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in wood manufacturing report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of wood manufacturing are millwork, veneers, engineered wood products, wood containers and pallets, manufactured homes, and others.Millwork refers to the manufacturing and installation of wooden products, typically used for finishing or decorative purposes in buildings.
It is used for domestic and commercial applications by construction, furniture, packaging, and joinery industries, and others.
The increasing demand for wooden furniture is expected to propel the growth of the wood manufacturing market going forward.Wooden furniture refers to furniture items that are made primarily or entirely from wood and come in various styles, designs, and finishes, ranging from traditional to modern, and rustic to contemporary.
Wood manufacturing plays a critical role in the production of wooden furniture such as the production of indoor and outdoor furniture, produce lumber, timber of specific sizes, and others. For instance, in June 2022, according to the United States International Trade Commission (USITC), a US-based governing agency, the US import of wooden furniture reached $2.3 billion. The percentage increase was 5.7% as compared to June 2021. US imports of wood furniture were $13.7 billion in the first six months of 2022, up 10.6% year-on-year. Therefore, the increasing demand for wooden furniture is driving the growth of the wood manufacturing market going forward.
Product innovation is a key trend gaining popularity in the wood manufacturing market.Companies operating in the wood manufacturing market are innovating new products to sustain their position in the market.
For instance, in May 2021, Desktop Metal, Inc., a US-based manufacturer of 3D printing systems, announced the launch of Forust, the first manufacturing process in the world to use additive manufacturing to recycle waste wood to create unique and opulent wood designs. A wooden item created by Forust has a digital grain that runs the length of it and can be polished or sanded. This software can digitally replicate every type of wood grain, including ash, rosewood, and mahogany.
In December 2022, Metrie, a Canadian-based manufacturer and distributor of interior millwork acquired the Hemlock and Alder manufacturing and distribution business of Fred Tebb & Sons, Inc. for an undisclosed amount. With this acquisition, both companies look forward to enhancing solid wood product manufacturing and service offering to new and existing customers. Fred Tebb & Sons, Inc. is a US-based solid wood manufacturing and distribution company.
The countries covered in the wood manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The wood manufacturing market research report is one of a series of new reports that provides wood manufacturing market statistics, including the wood manufacturing industry’s global market size, regional shares, competitors with a wood manufacturing market share, detailed wood manufacturing market segments, market trends, and opportunities, and any further data you may need to thrive in the wood manufacturing industry. This wood manufacturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466513/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
