August 13, 2018
WELLESLEY, Mass., Aug 13, 2018 – Despite mounting pressures to increase investments, reduce prices and source lumber from sustainable sources, the global market for unfinished wood/lumber products is expected to experience positive growth over the next five years, according to a new report from BCC Research.
The unfinished wood/lumber market reached a value of nearly $223.1 billion in 2017 and is expected to grow at a compound annual growth rate (CAGR) of 4.3% to nearly $275.2 billion by 2022, according to the recently published report Unfinished Wood/Lumber Manufacturing: Global Markets to 2022.
Major players in the market are West Fraser Timber Co. Ltd., Canfor Corp., Weyerhaeuser Company, Interfor Corp. and Metsä Group.
“The unfinished wood manufacturing market is benefiting from technological advances relating to wood treatment and processing,” the report notes. “Digital technologies such as big data and the internet of things (IoT) are being used to enhance manufacturing efficiency and reduce costs in the wood processing industry.”
Lumber Manufacturers Implementing Sustainable Wood Certifications
Many lumber production companies in developed economies are certifying their products though accreditation agencies to cater to environmentally conscious customers. Rise in awareness of deforestation, climate change and environmental concerns are increasing customer preference for products manufactured from wood sourced from companies having sustainable forest management accreditations. For instance, accreditations including the Forest Stewardship Council (FSC) certification and the Program for the Endorsement of Forest Certification (PEFC) are internationally recognized certifications for sustainable forest operations.
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Unfinished Wood/Lumber Manufacturing: Global Markets to 2022( MFG059A )