Finished Wood Products Market Characteristics
The finished wood products market consists of sales of finished wood products by entities (organizations, sole traders and partnerships) that produce finished wood products including wood products such as wooden windows and doors, cabinets, kitchenware and wooden mobile homes, and other products.
Competitive Landscape of the Finished Wood Products Market
Major players in the global finished wood products market include LIXIL Group, JELD-WEN Inc, Masonite International Corporation, Pella Corporation, Stora Enso Oyj.
Finished Wood Products Market Size
The finished wood products market size is expected to reach above 1,570.5 billion by 2022, significantly growing at a steady CAGR during the forecast period. The growth in the finished wood products market is due to rise in construction activity owing to ec0nomic growth in China and India.
However, the market for Finished Wood Products is expected to face certain restraints from several factors such as lack of available resources, workforce issues and increasing inventory levels.
Finished Wood Products Market Segmentation
The global finished wood products market is further segmented based on type and geography.
By Type - The finished wood products market is segmented into millwork, wood pallets & skids production, prefabricated home manufacturing and other finished wood products, millwork market accounts for the largest share in the global finished wood products market
By Geography - The global finished wood products is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific finished wood products market accounts the largest share in the global finished wood products market.
Trends in the Finished Wood Products 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. For instance, ABB developed robot automation solutions for picking, packing & palletizing and offers such technologies to manufacturers of wood panels, doors & door frames, windows & window frames and other wooden construction materials which is the major trend witnessed in the global Finished Wood Products market.
Potential Opportunities in the Finished Wood Products Market
Manufacturing in wood industries is getting faster and leaner with the adoption of sensor and wireless technologies in the finished wood products. The market is expected to significantly rise in the forecast period.