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(Construction.IndustryNews247.Com, August 22, 2018 ) The wood products manufacturing industry comprises establishments engaged in manufacturing of products derived from wood. This industry includes companies manufacturing lumber, plywood, veneers, wood containers, wood flooring, wood trusses, manufactured homes and prefabricated wood buildings. Wood products product process include sawing, planning, shaping, laminating, and assembling of wood products into bolts or lumber
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The global wood products manufacturing market has shown high growth in the past years with a CAGR of over 9%. The year 2017 recorded highest ever growth in this market with a net value of $2 trillion as per TBRC’s in-house consultants.
TBRC’s latest report show historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report expects the wood products manufacturing market to grow at a slightly lower CAGR till 2021 as compared to 2017. Geographies best suited for investments with highest return rate are also mentioned in the report.
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Finished wood products market was the largest segment in the wood products manufacturing market with 60% share, worth around $2 trillion. This was mainly because the segment manufactures veneer and plywood which is comparatively more expensive.
Finished wood products market establishments manufacture veneer, plywood, engineered wood members and reconstituted wood products. Some products produced by this industry include hardwood and softwood veneer, fabricated and laminated wood arches, wood roof, floor trusses, wood sheets and boards.
The global economic slowdown in countries such as Brazil, Russia, and Japan resulted in rise in price of imports, thereby driving the market.
Companies that are included in the report are Georgia-Pacific Corporation, Weyerhaeuser Company, West Fraser Timber Co. Ltd., Andersen Corporation, and Celulosa Arauco y Constitución.
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