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The North America wood products market is forecasted to reach US$229.27 billion by 2025, witnessing growth at a CAGR of 6.75%, over the period 2021-2025. The factors such as growing population, escalating new residential construction, high availability of forest reserves, surging demand for wooden furniture in offices and rising inclination of population towards home repair and remodeling would drive the growth of the market. However, the growth would be challenged by price fluctuations in North American softwood lumber and rising availability of the alternatives for wood products. A few notable trends include accelerating preference for engineered wood, upsurge in housing starts, growing investment in the development and renovation of tourism infrastructure and upswing in wood product manufacturing.
On the basis of type, the North America wood products demand can be divided into two categories, named as, Softwood Lumber and Engineered Wood Products (EWP).
The fastest growing market in the region is the U.S. due to rising inclination of population towards home repair and remodeling, rebound in new residential construction, high presence of forest reserves in the region, increasing disposable income and upswing in wood product manufacturing on account of aesthetically pleasing properties of wood, and the perception of wood as an environmentally friendly material. Further, the sudden outbreak of COVID-19 is causing an adverse disruption in the business environment, affecting the wood products production and consumption, resulted in slower growth of the wood products market in North America.
Scope of the report:
- The report provides a comprehensive analysis of the global hydrogen market segmented on the basis of production process, application and region.
- The major regional and country markets (Asia Pacific, Europe, North America, Middle East & Africa and Central & South America, along with the U.S.) have been analyzed.
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
- The competitive landscape of the market, along with the company profiles of leading players (Linde PLC, Air Liquide S.A., Air Products and Chemicals, Inc., Taiyo Nippon Sanso Corporation, Messer Group GmbH and Nel ASA) are also presented in detail.
Key Target Audience:
- Wood Products Manufacturers
- Traders, Importers and Exporters
- Raw Material Suppliers and Distributors
- Industry Investors
- Associations, Industrial and Government Bodies