The wood processing market involves of sales of processed wood by several entities (organizations, sole traders and partnerships) that saw measurement lumber, boards, beams, timbers, poles, ties, shingles, shakes, siding, and wood chips from the logs or bolts. This industry also embraces establishments that treat planed, sawed and shaped wood with creosote or other preservers such as alkaline copper quat, copper azole, and sodium borates, to safeguard decay and to safeguard against fire and insects.
According to the report analysis, ‘Wood
Processing Global Market Report 2020-30: Covid 19 Impact and Recovery’
states that the worldwide wood processing market is expected to degeneration
from USD 143.9 billion during 2019 to USD 140.3 billion in 2020 at a compound
annual evolution rate (CAGR) of -2.6%. The deterioration is mainly due to
economic slowdown around the several countries owing to the COVID-19 outbreak
and the measures to comprehend it. The market is then anticipated to recover
and grow at a CAGR of 7% from 2021 and reach USD 167.9 billion during 2023.
Weyerhaeuser Company; West Fraser Timber Co Ltd; Canfor Corporation; Svenska Cellulosa Aktiebolaget; Interfor Corporation and numerous other which recently operating more effectively for leading the highest market growth dominating the handsome value of market share globally during the coming years while accepting the profit making strategies and policies, delivering the better consumer satisfaction, spreading the awareness connected to such, employing the young work force, decreasing the linked prices, developing the applications, quality and specifications of such, analyzing the strategies and policies of the government and competitors, and establishing the several research and development programs.
Not only has this, the North
America was the principal region in the worldwide wood processing market,
registering for 33% of the market during 2019. The Asia Pacific region was the
second largest region registering for 30% of the worldwide wood processing
market. Nonetheless, the Africa was the smallest region in the global wood
processing market.
Although, the effective growth in
the demand for supply chain transparency and rigorous government regulations on
the wood industry has led to the employment of tracking and tracing
technologies. Several wood corporates are implementing their own tracking
systems to manage the transparency in their timber supply chain. The Electronic
tracking is taking over the paper-based systems and technologies such as
radio-frequency identification chips, barcodes and progressive traceability
softwares.
Furthermore, the Robots are
substituting traditional hand sanding and wood finishing tools. Robot based
wood automation tool breadwinners have launched robots that carry out wood
sanding, perfecting and finishing precisely and speedily. They are improving
technologies for assembling a wooden window frame to steering designs in the
wood panels for an extensive range of materials and surfaces. For instance, the
ABB's robot automation solutions were executed in leading companies such as
IKEA, VELUX and Svedplan. Therefore, in the near years, it is predicted that
the market of wood processing will increase around the globe more proficiently
over the forthcoming years along the effective amount of investment by the
coming and prevailing investors and corporates.
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Ankur Gupta, Head Marketing &
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