Wood Processing Market Expected to Reach $118.4 Billion by 2028

Overview and Scope
Wood processing refers to numerous techniques that make use of raw wood to produce materials or supplies that are used as the raw materials in the production of a variety of wood-based products, in which chemicals and other additives are frequently added as part of operations to help prepare the raw wood for usage.

Sizing and Forecast
The wood processing market size has grown strongly in recent years. It will grow from $153.44 billion in 2023 to $163.9 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to strong economic growth in emerging markets, low interest rates in most developed countries, an increasing demand for cruise ships and growth in residential construction activity.

The wood processing market size is expected to see strong growth in the next few years. It will grow to $211.44 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to the increasing construction of wooden buildings, an increasing demand for wooden furniture and increased construction and infrastructure activities globally will drive the market growth. factors that could hinder the growth of the wood processing market in the future include the stringent laws and regulations on deforestation, reductions in free trade, geo-political tensions, an increasing use of alternate construction materials and labor shortages in the forestry and logging industry. Major trends in the forecast period include use of tracking and tracing technology in timber processing, use of artificial intelligence (ai) in wood processing, adoption of image processing systems in factories, new product launches, focus on strategic partnerships and focus on investments and mergers and acquisitions..

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Segmentation & Regional Insights
The wood processing market covered in this report is segmented –
1) By Type: Sawmills, Wood Preservation
2) By Formulation: Residential, Commercial And Industrial, Infrastructural, Other End-User Industries

Asia-Pacific was the largest region in the wood processing market in 2023. North America was the second largest region in the wood processing market. The regions covered in the wood processing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The wood processing market is expected to benefit from steady economic growth forecasted for many developed and developing countries. The International Monetary Fund (IMF) stated that the global GDP growth was 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a decline in the historic period is further expected to be a significant factor driving economic growth. The US economy is expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Greater economic growth is likely to drive public and private investments, joint ventures, foreign direct investments in the end-user markets, thereby driving the market during forecast period.

Key Industry Players
Major companies operating in the wood processing market report are Canfor Corporation, West Fraser Timber Co. Ltd., Interfor Corporation, UPM-Kymmene Oyj, Weyerhaeuser Company, Sierra Pacific Industries, Inc, Western Forest Products Inc, UFP Industries, Inc, Georgia Pacific, Svenska Cellulosa Aktiebolaget, Kitply, Amandus Kahl Gmbh & Co. Kg, Hangzhou Lin`an Wood-Working Machinery Co.Ltd, Hebei Xinju Furniture Co. Ltd, Qingdao From-Wood New Energy Equipment Co.Ltd, Omni-Tsuda Inc, Izumi Corporation Co.Ltd, Koohei Bussan Co., Ltd, Shreeji Woodcraft Pvt. Ltd., Century Plyboards Ltd, Forestry Corporation of NSW, China Inner Mongolia Forestry Industry Group, Singla Timbers, Oji Group, Luli Group, China Longjiang Forest Industry, EGGER Limited, RTS Forestry, James Jones and Sons Limited, Metsähallitus Forestry Ltd, ATA Timber, Bergs Timber AB, Scottish Woodlands Ltd, Tilhill Forestry, Holmen Timber, Holzindustrie Maresch GmbH, Stora Enso Oyj, Russia Forest Products, LST a.s, Wotan Forest a.s, UNILES Inc, Segezha Group, KPPD-Szczecinek SA, Ilim Timber LLC, Pacific Woodtech, Celulosa Arauco y Constitución, Suzano Papel e Celulose, Toll Maderas SRL, Forestal Las Marías SA, Benevides Madeiras, Valdivia Sawmill, Dafaf Wood Industry LLC, Al Garib Wood Industry LLC, Interpro Wood Industries LLC, Woodworks Factory, The Building Company (Pty) Ltd, Riversdalse Handelshuis Kooperatief Ltd, Macrall Timbers, The F X Group (Pty) Ltd

The wood processing market report table of contents includes:
1. Executive Summary
2. Wood Processing Market Characteristics
3. Wood Processing Product/Service Analysis -Product/Service Examples
4. Wood Processing Market Trends And Strategies
5. Wood Processing Market - Macro Economic Scenario
…..
68. Global Wood Processing Market Competitive Benchmarking
69. Global Wood Processing Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Wood Processing Market
71. Wood Processing Market Future Outlook and Potential Analysis
72. Appendix