Trends in the wood products industry are driven by demand for supply chain transparency
The Business Research Company Global Wood Products Market Report 2021: Impact and Recovery of COVID-19 through 2030
LONDON, GREATER LONDON, UK, May 11, 2021 /EINPresswire.com/ – Growing demand for supply chain transparency and strict government regulations on the timber industry have led to the implementation of technologies monitoring and traceability, which constitute the main market for wood products. tendencies. Many timber companies have set up their own tracking systems to maintain transparency in their timber supply chain. Electronic tracking is adopted by lumber companies and government agencies over paper-based systems and technologies such as radio frequency identification chips, bar codes and advanced tracking software. For example, the Forest Stewardship Council, a leading non-profit organization, has developed an online complaints platform to provide free timely information about FSC products and the companies that produce them to FSC certificate holders. . This enables a digital connection between FSC certified suppliers and customers.
The main companies in the wood products industry are Georgia-Pacific Corporation, Weyerhaeuser Company, West Fraser Timber Co Ltd, Andersen Corporation, Celulosa Arauco y ConstituciÃ³n.
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The global wood products market is expected to grow from $ 624.2 billion in 2020 to $ 666.3 billion in 2021 at a compound annual growth rate (CAGR) of 6%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 866.3 billion in 2025 at a CAGR of 7%.
Asia-Pacific holds the largest market share for wood products, accounting for 39% of the market in 2020. North America is the second largest region, accounting for 27% of the global market. Africa is the smallest region in the world market for wood products.
The wood and wood products market is segmented by type into finished wood products, wood processing, manufactured wood materials and by application in residential and commercial sectors.
The sub-segments covered are carpentry, wood pallets and glides, manufactured homes, other finished wood products, sawmills, wood preservation, reconstituted wood, plywood, veneer sheets.
Wood Products Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is part of a series of new reports from The Business Research Company that provides an overview of the global wood products market, forecasts the size and growth of the market for wood products for the whole market, wood products global market segments and geographies, wood products market trends, wood products market drivers, restraints, revenue, profiles and market shares of major competitors.
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Here is a list of similar reports from the Business Research Company:
Global Wood Processing Market Report 2021: Impact of COVID-19 and Recovery to 2030
Global Manufactured Wood Materials Market Report 2021: Impact of COVID-19 and Recovery to 2030
Global Finished Wood Products Market Report 2021: Impact of COVID-19 and Recovery to 2030
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