According to the report analysis, ‘VietNam Wood Industry report Q1/2020 Comprehensive’
states that in Vietnam wood industry there are numerous corporates which
presently operating more actively for leading the fastest market growth and
registering the handsome value of market share while delivering the better
consumer satisfaction, spreading the awareness related to the wood industry,
decreasing the linked price, advancing the applications of manufactured goods,
employing the young workforce, implementing the profitable strategies and investing
the effective amount of money in advancement of wood includes Wanek furniture
Co,. Ltd, Viet Nam Nitori production Co, Shing Mark Vina Co,. Ltd, An Cuong
wood JSC, MDF VRG DONGWHA Wood JSC, Viet Nam San Lim Furniture Co,. Ltd, Viet
Nam Woodwoth Wooden Co, Ltd, ROCHDALE SPEARS Co,. Ltd, Viet Nam POH HUAT JSC, Timber
Industries Co,. Ltd and several others.
However, the report offers a wide-ranging evaluation of the
market. It does so via in-depth qualitative intuitions, historical data, and demonstrable
projections related to the market size. The projections presented in the report
have been derived utilizing proven research methodologies and conventions.
In addition, the worldwide wood processing market is predicted to effectively
augment from USD 283 billion in 2012 to USD 531 billion in 2020 with an annual
growth of 9.2%. Asia is the region principal in wood processing market in the terms
of consumption in 2017, registering for 55% market share. This could be owing
to the great requirement for wooden products, propelled by one large amount of the
middle class and disposable income is augmenting in the regions such as China
and India.
In 2019, the determined forestation area was predicted to reach
273.6 thousand hectares, down 4.5% from the preceding year. In 2019, the total
import worth of the raw wood is predicted at 1.96 billion USD, up 3.5% associated
to 2018. In which, the import turnover of the logs and sawn timber is 635.7 and
966.3 million USD, correspondingly.
In 2019, the wood chip introduction is predicted at 7,275 thousand
tons, up 13% associated to 2018. In 2019, the establishment of the artificial
boards (involving plywood, veneer, and wood has been augmented) snakes, plywood
from wood and similar materials) is predicted at 6,422 thousand m³, almost unaffected
compared to 2018.
Whereas, the low product cost attached with the superior
properties involving the strength and durability is the foremost aspect propelling the requirement for wood based panels for ceiling, cladding, roofing,
flooring and furniture submissions.
The significant growth in the investments in residential and
commercial construction activities around the foremost geographies is predicted
to influence the requirement for wood based panels. Moreover, growing
public-private partnerships for the advancement of the construction segment in
emerging regions such as India, China, and several others are likely to assist
the market growth.
The foremost augment in the consumer spending on aesthetically
interesting furniture products and momentous growth in single-family housing
constructions are other aspects likely to propel the regional product requirement
over the projected duration.Therefore, in the coming years, it is predicted
that the market of Vietnam wood will increase around the globe more positively
over the upcoming duration.
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