Global Wood Processing Market Trends And Strategies Of Major Players In The Wood Processing Market 2021-2030
5 Jan, 2021
The wood processing market consists of sales of processed wood which is treated with preservatives 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. The wood processing market is segmented into sawmills and wood preservation.
Global Wood Processing Market Size And Drivers:
The global wood processing market reached a value of nearly $143.9 billion in 2019, having grown at a compound annual growth rate (CAGR) of 4.3% since 2015, and is expected to grow at a CAGR of 3.9% to nearly $167.9 billion by 2023. The market is expected to nearly $193.2 billion by 2025, and to $269.3 million by 2030. The increasing popularity of cruising drove the demand for processed wood hence supporting the market’s growth in the historic period.
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Trends In The Global Wood Processing Market
The increasing demand for supply chain transparency and stringent government regulations on the wood industry has led to the implementation of tracking and tracing technologies. Many wood companies are implementing their own tracking systems to maintain transparency in their timber supply chain. Electronic tracking is being adopted by wood companies and government agencies over paper-based systems and technologies such as radio-frequency identification chips, barcodes and advanced traceability software are being used.
Global Wood Processing Market Segments:
The global wood processing market is further segmented based on type and geography.
By Type: Sawmills, Wood Preservation.
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 33.5% in the global wood processing market.
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Wood Processing Global Market Report 2021 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.