Global Wood Processing Market Report 2020 - Opportunities And Strategies, Market Forecast And Trends
4 Dec, 2020
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The global wood processing market reached a value of nearly $143.9 billion in 2019, having increased at a compound annual growth rate (CAGR) of 4.3% since 2015. The market is expected to decline from $143.9 billion in 2019 to $140.3 billion in 2020 at a rate of -2.5%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 4.5% from 2021 and reach $167.9 billion in 2023. The global wood processing market is expected to reach $193.2 billion in 2025, and $269.3 billion in 2030.
The wood processing market consists of sales of processed wood by entities (organizations, sole traders and partnerships) that saw dimension lumber, boards, beams, timbers, poles, ties, shingles, shakes, siding, and wood chips from logs or bolts. This industry also includes establishments that treat planed, sawed and shaped wood with creosote or other preservatives such as alkaline copper quat, copper azole, and sodium borates, to prevent decay and to protect against fire and insects.
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The global wood processing market is further segmented based on type, type into wood chips/particles and geography.
By Type: Sawmills And Wood Preservation.
By Type Into Wood Chips/Particles: Non-Coniferous, Sawn Wood Lumber – Coniferous, Wood Chips/Particles – Coniferous, Swan Wood Lumber - Non Coniferous, And Others.
By Geography: The global wood processing market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, the North American wood processing market accounts for the largest share of 33% in the global wood processing market 2019.
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Trends In The Wood Processing Market
Robots are replacing traditional hand sanding and wood finishing tools. Robot based wood automation tool providers have launched, robots that carry out wood sanding, polishing and finishing precisely and quickly. They are developing technologies for assembling a wooden window frame to routing designs in wood panels for a wide range of materials and surfaces.
Wood Processing Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides wood processing market overviews, analyzes and forecasts market size and growth for the global wood processing market, wood processing market share, wood processing market players, wood processing market segments and geographies, wood processing market’s leading competitors’ revenues, profiles and market shares. The wood processing market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.