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The wood processing market has shown strong growth, increasing from $153.44 billion in 2023 to $163.9 billion in 2024, with a compound annual growth rate (CAGR) of 6.8%. This growth in the historical period is attributed to economic growth in emerging markets, low interest rates, and increasing demand for cruise ships and residential construction. Forecasts suggest continued strong growth, with the market projected to reach $211.44 billion in 2028, boasting a compound annual growth rate (CAGR) of 6.6%. This growth is driven by the increasing construction of wooden buildings, demand for wooden furniture, and increased construction and infrastructure activities globally. Major trends in the forecast period include the use of tracking and tracing technology, adoption of artificial intelligence in wood processing, and focus on investments and mergers and acquisitions.

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 the forecast period. In 2023, the wood processing market is poised to capitalize on the steady economic growth, and by 2024 and 2028, this favorable economic environment is expected to sustain the market’s upward trajectory.

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What Are The Key Trends That Influence Wood Processing Market Share Analysis?

The increasing demand for transparency in the supply chain and stricter government regulations in the wood industry have driven the adoption of tracking and tracing technologies. Many wood companies are implementing their own electronic tracking systems to ensure transparency in their timber supply chains. This shift from paper-based systems to technologies like radio-frequency identification (RFID) chips, barcodes, and advanced traceability software is notable. For example, the Forest Stewardship Council (FSC) has created an Online Claims Platform to provide timely information about FSC-certified products and producers, facilitating digital connections between certified suppliers and customers.

Which Market Players Are Driving Growth In The Wood Processing Market?

Major companies operating in the market 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

How Is The Global Wood Processing Market Segmented?

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

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The Wood Processing Global Market Report 2024 provides an overview of the wood processingmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The wood processing market forecast analyzes wood processing market size, wood processing market share, leading competitor and their market positions.

The Table Of Content For The Wood Processing Market Include

1. Wood Processing Market Executive Summary
2. Wood Processing Market Segments
3. Wood Processing Market Size And Template Market Growth Rate
4.  Key Wood Processing Market Trends
5. Major Wood Processing Market Drivers
……
25. Key Mergers And Acquisitions In The Wood Processing Market
26. Top Wood Processing Companies
27. Wood Processing Market Opportunities And Strategies
28. Wood Processing Market, Conclusions And Recommendations
29. Appendix

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