Vietnam
wood industry is a private economic sector concerned with logging, timber
trade, forestry, and the production of forest products. It is also known as
lumber industry. The industry comprises companies that operate by
manufacturing, creating, and producing wood products for instance plywood,
wood-plastic composites and plastic lumber. In Vietnam, the demand of wood is
determined by the level of activity in end-use industries, for instance
building construction, and the crash of the housing market. Due to rise in
demand from the automotive industry coupled with growth in recovery of housing
sector are fueling growth in the industry.
In
Q4/2019, Vietnam wood processing industry has become a major export commodity
or head wood exporting country in Southeast Asia and ranks seventh in the world
in the export of furniture. The supply of plantation timber have an important
role in the creation of products for export. Additionally, wood chips are also
important export items of country.
According
to study, “Vietnam
Wood Industry report Comprehensive Report Q4/2019” the key companies
operating in the Vietnam wood industry are Wanek furniture Co,. Ltd., Viet Nam
Woodwoth Wooden Co, Ltd., An Cuong wood JSC, Viet Nam Nitori production Co, MDF
VRG DONGWHA Wood JSC, Shing Mark Vina Co Ltd., ROCHDALE SPEARS Co. Ltd., Timber
Industries Co,. Ltd., Viet Nam POH HUAT JSC, Viet Nam San Lim Furniture Co.
Ltd. Key companies in the wood industry need to continue to focus on improving
efficiency and rising investments in advanced technologies & equipment.
Based
on type, Vietnam wood industry is segmented into solid wood products and
composite wood products. Solid wood products are further sub-segmented into
veneer & plywood, lumber, furniture, mine timbers, poles, piling, and
posts. Furniture is used for dining rooms, bedrooms, living rooms, upholstered
seating, and other interior applications. Furniture segment dominates the
market as it is oriented particularly towards Europe and North America whereas
most fuel-wood exports are intended mainly for South Korea and Japan. Composite
wood products are further sub-segmented into laminated timbers, hard-board,
insulation board, and particle board. Based on product & services, market
is segmented into export wooden pallet, wooden pallet, wooden box, wooden
strips, wood cutter machine, square wooden pallet, warehouse wooden pallets,
pinewood wooden pallet, industrial rectangular wooden pallet, shipping pallet,
two way wooden pallet and heavy industrial wooden box. In addition, based on
end-user, market is segmented into commercial and domestic or manufactured
home.
The
Vietnam wood industry is driven by rise in number of domestic &
foreign-funded enterprises, followed by increase in economy, growth in global
recognition of the quality of high-end Vietnamese wood products, rapid increase
in wood processing for furniture, growth in continuation of sustainable forest
management & trade in forest products and rise in improvement in wood
products including luxury hotels. However, shortages of imported materials may
impact the market. Moreover, rise in consumption by developed countries who
have strict regulations regarding the appropriate origin of the imports in
order to protect the environment is a key opportunity for market.
Vietnam
wood industry have recently made strong & effective fluctuations in
technologies and governance to ensure they are competitive within worldwide
market trends. The continuous development of technology as well as combined
with new trade deals proves that it is a good time to be involved in the
rapidly rising Vietnamese wood & furniture industry. It is expected that
the Vietnam wood industry will become the center of wood furniture processing
& exporting of the world as a result of rise in investments in technology
& equipment, growth in trade promotion, stabilize domestic raw material
& human resources and rise in consumption of wood & wood products
during the forecast period.
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