Wood Products Market Opportunities And Strategies To 2033: Global Wood Products Market Set To Surpass $1.58 Trillion By 2033

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Sept. 23, 2024 (GLOBE NEWSWIRE) -- The "Wood Products market Opportunities and Strategies to 2033" report has been added to ResearchAndMarkets.com's offering.
The global wood products market reached a value of nearly $788.45 billion in 2023, having grown at a compound annual growth rate (CAGR) of 7.08% since 2018. The market is expected to grow from $788.45 billion in 2023 to $1.15 trillion in 2028 at a rate of 7.87%. The market is then expected to grow at a CAGR of 6.67% from 2028 and reach $1.58 trillion in 2033.
Growth in the historic period resulted from the rising disposable income, strong economic growth in emerging markets, government initiatives for furniture manufacturing and increase in residential construction activity. Factors that negatively affected growth in the historic period include stringent laws and regulations.
Going forward, the increasing focus on home renovation, investments in infrastructure development and improvement, increasing demand for energy-efficient buildings and rapid urbanization will drive the market. Factors that could hinder the growth of the wood products market in the future include a lack of skilled workers and supply chain disruptions.

The wood products market is segmented by type into finished wood products, wood processing and manufactured wood materials. The finished wood products market was the largest segment of the wood products market segmented by type, accounting for 39.48% or $311.25 billion of the total in 2023.

Going forward, the finished wood products segment is expected to be the fastest growing segment in the wood products market segmented by type, at a CAGR of 8.39% during 2023-2028.
The wood products market is segmented by distribution channel into online and offline. The offline market was the largest segment of the wood products market segmented by distribution channel, accounting for 79.24% or $624.77 billion of the total in 2023. Going forward, the online segment is expected to be the fastest growing segment in the wood products market segmented by distribution channel, at a CAGR of 8.22% during 2023-2028.
The wood products market is segmented by application into residential and commercial and industrial. The residential market was the largest segment of the wood products market segmented by application, accounting for 64.76% or $510.59 million of the total in 2023. Going forward, the commercial and industrial segment is expected to be the fastest growing segment in the wood products market segmented by application, at a CAGR of 8.02% during 2023-2028.
Asia-Pacific was the largest region in the wood products market, accounting for 34.42% or $271.36 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the wood products market will be the Middle East and Africa, where growth will be at CAGRs of 21.11% and 18.13% respectively. These will be followed by South America and Eastern Europe, where the markets are expected to grow at CAGRs of 14.90% and 7.25% respectively.
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. Georgia-Pacific Corporation was the largest competitor with a 0.86% share of the market, followed by West Fraser Timber Co Ltd with 0.75%, Weyerhaeuser Company with 0.72%, EGGER Group with 0.50%, Resolute Forest Products with 0.47%, Canfor Corporation with 0.43%, Celulosa Arauco y Constitucion with 0.41%, Interfor Corporation with 0.31%, Boise Cascade Company with 0.25% and Stora Enso Oyj with 0.22%.
The top opportunities in the wood products market segmented by type will arise in the finished wood products segment, which will gain $154.45 billion of global annual sales by 2028. The top opportunities in the wood products market by distribution channel will arise in the offline segment, which will gain $283.55 billion of global annual sales by 2028. The top opportunities in the wood products market by application will arise in the residential segment, which will gain $231.95 billion of global annual sales by 2028. The wood products market size will gain the most in the USA at $68.93 billion.
Market-trend-based strategies for the wood products market include focus on thermally modified wood products to meet the demand for high quality building materials, use of recycled materials to meet the rising demand for environmentally responsible construction, integration of artificial intelligence to enhance wood processing productivity and efficiency and adoption of automation and robotics for enhancing efficiency and precision in production processes.
Player-adopted strategies in the wood products market include focus on introducing innovative mass timber products to enhance construction efficiency and environmental impact, strengthening business operations and expanding operational capacity through strategic acquisitions, investing in modernization projects that reduce carbon emissions and improve operational efficiency to enhance sustainability, capitalizing on regional expertise and advanced production capabilities and expanding product offerings and strengthening market position through strategic acquisitions.
To take advantage of the opportunities, the analyst recommends the wood products companies to focus on sustainable and high-performance building materials, focus on sustainable materials innovation, focus on AI integration for operational efficiency, focus on automation and robotics for enhanced production efficiency, focus on finished wood products segment, expand in emerging markets, focus on online market segment for growth, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions and focus on commercial and industrial market segment.
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:

• 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.

Company Coverage:

• Georgia-Pacific Corporation
• West Fraser Timber Co
• Weyerhaeuser Company
• EGGER Group
• Resolute Forest Products
• Canfor Corporation
• Celulosa Arauco y Constitucion
• Interfor Corporation
• Boise Cascade Company
• Stora Enso Oyj
• Jilin Sen Workers' Forming Group Co., Ltd.
• Xuzhou Mega Industries Ltd.
• Yalong Wood.
• S&J Wood.
• Linyi Haisen Wood Co.
• TengNuo
• Chanta Group
• Cuzi Wood Industry
• Shanghai Sindo Panel Company
• AmandusKahl
• Century Plyboards India
• Greenply Industries
• Koohei Bussan Co.
• Shreeji Woodcraft
• Singla Timbers
• Oji Group
• Cross Trade
• Komatsu Forest
• Caledonian Plywood Company
• Hanson Plywood
• Garnica Plywood Samazan
• IMCA Panels
• Templin OHG
• JAF. Wood
• RTS Forestry
• James Jones and Sons Limited
• Metsahallitus Forestry
• ATA Timber
• Bergs Timber
• Scottish Woodlands
• Tilhill Forestry
• Holmen Timber
• HolzindustrieMaresch
• UPM-KymmeneOyj
• Polkky Oy
• KLAUS Timber
• Syktyvkar Plywood Mill
• Plyterra Group
• Segezha Group
• Au-Mex
• The "Titan" group
• Timberwood
• Russia Forest Products
• PPUH PINUS
• LST
• Wotan Forest
• UNILES Inc.
• SORT-1
• KPPD-Szczecinek
• Sawmill Radom
• Ilim Timber
• Conifex Timber
• Louisiana-Pacific
• Ashley Furniture Industries
• Steelcase
• HNI Corporation
• Herman Miller
• Hancock Timber Resource Group
• RSH Forest Products
• PotlatchDeltic
• Sierra Pacific
• Ashton Lewis
• Itasca Capital
• Berneck
• Araupel
• Linea Parana Madeiras
• Imaribo
• Taeda
• Toll Maderas
• Estancias San Francisco
• Forestal Las Marias
• PINDO
• Pomera
• Zeni
• Garabi
• BenevidesMadeiras
• Valdivia sawmill
• Duratex
• SuzanoPapel e Celulose
• Middle East Wood
• MaziOrmanUrunleri Ltd.
• DastasDemirciogluAgac
• Wood
• Daco Parquet Factory
• Kartonsan
• BalciOrmanUrunleri
• Gabon Veneer
• Merensky
• Miro Forestry and Timber Products
• United Forest Products
• Afeefa Overseas Sarl Gabon
• Komaza
• Alitco Group
• AJS Techno Flow
• Safcol
• Chukifywood
• Firstcut International
• Royal Castle Trading Enterprises
• Chrischeriss Global Services
• Okoume Face Veneer

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• Wood Products Market

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