The forestry market consists of sales of forestry products by entities ((organizations, sole traders and partnerships) that produce forestry products by the growing, cutting and transporting of timber, operations of the timber tract, growing trees for reforestation and collecting forest products such as gums, barks and fibers.
The global forestry and logging market is expected to decline from $509.8 billion in 2019 to $494 billion in 2020 at a compound annual growth rate (CAGR) of -3.1%. The decline is mainly due to 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% from 2021 and reach $544.2 billion in 2023. Asia Pacific was the largest region in the global forestry and logging market, accounting for 38% of the market in 2019. North America was the second largest region accounting for 22% of the global forestry and logging market. Middle East was the smallest region in the global forestry and logging market. Aerial seed bombing is the new and effective way of reforestation. Aerial reforestation is the process of dropping pointed containers with saplings by aircrafts that can nearly plant one million trees every single day. The dropped canisters are made of biodegradable material and contain a seedling packed in soil and nutrients and are designed to be dropped from a low-flying plane. The canisters hit the ground at 200 mph and embed themselves in the soil. Thailand has made plans to begin with a five-year pilot project focused on aerial reforestation method to boost reforestation by planting trees for forests that have deteriorated.
The major players in the global forestry and logging market are Forestry Corporation, Hancock Victorian Plantations, Weyerhaeuser, Scottish Woodlands Ltd, Tilhill Forestry Ltd
The countries covered in the global forestry and logging market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
The Global Forestry And Logging Market is segmented:
1) By Type: Logging, Timber Tract Operations, Forest Nurseries and Gathering of Forest Products
2) By Application: Construction, Insutrial Goods, Others