Sawn Wood Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Sawn Wood Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The global sawn wood market is projected to register a CAGR of 4.1% during the forecast period.

• Sawn wood is used for various purposes, such as building materials, paper production, fire starter, and domestic house construction for wall studs and floor and roof framing members. Changes in income have had a substantial impact on the demand for sawn wood. Generally speaking, higher income is linked to increased demand for wood products, especially those used in housing and building.
• Globally, Asia-Pacific is the largest market for sawn wood. One of the region's largest consumers of sawn wood is China. The rapid growth of the Chinese children's furniture industry, which makes extensive use of spruce-sawn wood, is the key factor driving increased demand for sawn wood. According to Food and Agriculture Organization (FAO) statistics, China produced 90.3 million m3 of sawn wood in 2018, which decreased to 84.0 million m3 in 2021 due to increased dependency on imports. The other main regional producers are Japan, Turkey, Vietnam, India, Thailand, and Malaysia.
• Wood is used more frequently to replace non-renewable materials since it is renewable, recyclable, environmentally friendly, and adaptable. It is a vital component of attempts to address the global threats to the environment, biodiversity, and climate brought on by the overuse of non-renewable resources. Over the past few years, the consumption of sawn wood in China grew by 34%, and the USA’s consumption grew by 11%. The other three main consumers of sawn wood globally are Germany, Canada, and Japan.

• Global sawn wood production is increasing due to increasing demand. According to the FAO statistics, global sawn wood production increased by 1.9% in 2021 compared to the previous year. The increase in the production of sawn wood is mainly driven by rapid developments in the furniture and construction sector, where sawn wood is widely used.
• Also, increasing population, rapid urbanization, and changing levels of income are some factors boosting the production and export potential of the sawn wood. With this growing momentum set to continue, the world’s largest producing countries, largest exporters, and importers are expected to witness a stronger increase in their production and trading volumes over the near future.
• The growing demand for wood in the interiors as a surface material for walls, ceilings and floors, furniture, stairs, windows, and doors, in features and decorations, from small private facilities as well as large public social and official premises across the globe, was facilitating the growth of exports. Factors such as favorable climatic conditions in major producing countries and demand for wood from the construction sector support the market.

• Asia-Pacific is the largest market for sawn wood in the global market. China is one of the major consumers of sawn wood in the region. According to Food and Agriculture Organization (FAO) statistics, the production of sawn wood increased by 0.7% in the region in 2021 from the previous year. In 2021, the Asia-Pacific accounted for 32.0% of global production.
• In 2021, the Asia-Pacific region imported sawn wood of 56.8 million m3, worth USD 16.9 billion. The import value in the region increased by 11.9% in 2021 compared to the previous year due to increasing consumption demand mainly driven by the construction and furniture sectors.
• Most of the wood consumed in the region was used by industries such as papermaking, manufacturing fiberboard, particleboard, furniture, and plywood. Imports of sawn wood were mainly softwood in terms of volume, whereas in terms of value, hardwoods were higher than softwoods. An increase in consumption volumes is mainly driven by the rapid increase in the demand by the furniture sector, where sawn wood is widely used. Therefore, the above-mentioned factors drive the market in the region.

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