The global lumber demand, in terms of volume, is estimated to be 533.4 million cubic meter in 2023 and is expected to reach 573.7 million cubic meter by the end of 2025 with a CAGR of 3-5 percent

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    Lumber market report transcript

    Lumber Global Market Outlook

    • The global lumber market, in terms of volume, is expected to be 533.4 million cubic meter in 2023. The market is projected to grow steadily at a CAGR of 3-5 percent between 2021 and 2025

    • APAC is the highest demand-generating geography, followed by North America, and Europe

    Market Insights

    • The global lumber demand, in terms of volume, is estimated to be 533.4 million cubic meter in 2023 and is expected to reach 573.7 million cubic meter by the end of 2025 with a CAGR of 3-5 percent

    • The Asia-Pacific region is expected to constitute to around 38.5 percent of global lumber demand in 2023

    • The increase in demand is majorly driven by the growth of construction, interiors, and transportation sectors. In construction, lumber is used for wide variety of applications, such as support structures, architectural designs, framings, flooring, furniture, cabinets, etc.

    • The demand for lumber in the forecasted period is expected to increase, due to strong demand from construction, packaging, and transportation sectors, while global economies continue to recover from COVID-19 pandemic

    • Despite the driving factors, supply chain disruptions, energy crisis and inflation are tickling the lumber market

    Regional Market Overview for Lumber

    • APAC will continue to retain a major share of the lumber market for 2022 and 2022 and throughout the forecast period

    • North America and Europe are expected to be the next major shareholder of lumber market. Individually, by country, United States will be the market leader, primarily due to increased construction activity and lumber production in the forecast period

    • The market is matured in the North America region. The market is expected to reach 156.6 million cubic meter in 2023, as demand from residential and government infrastructure project is expected to drive the market

    • China is one of the largest producers and consumers of the lumber. The Asia-Pacific region lumber demand is driven by affordable housing and increasing construction activities in the region

    • Europe is the largest exporter, followed by North America. The energy crisis and inflation, due to the supply chain disruptions, caused by Russia Ukraine conflict, has impacted the lumber demand

    Lumber Global Market Drivers and Constraints

    • Growth in construction sector, rapid urbanization, increase in spend by middle class for new housing and renovation are likely to drive the lumber market.


    • Construction Sector - Key driving factors for global lumber market include projected high growth of the construction sector, for both non-residential and residential, surge in interiors market especially furniture segment and rise in demand from transportation and packaging sector.

    • Urbanization - Rapid urbanization, increase in spend by middle class for new housing and renovation purposes are also likely to enhance the demand for lumber

    • Sustainable Product - Lumber can be treated as a sustainable product during construction activities. The surge in ecological values in construction sector encourages the use of lumber hence driving the market growth


    • Availability - Volatility in the availability of wood (different types), which is the major raw material, is bigger concern in the lumber industry. Wood production is largely dependent on the quirks of nature: (good rainfall, adequate plantation), labour issues, wildfires, infestation etc. Also, farmers are finding wood production as a non-lucrative due to low margins and shifting towards other plantations. This might lead to a shortfall of availability of raw materials for lumber industry and negatively impacting the growth of the industry

    • Environmental and sustainable norms - Manufacturing companies including wood manufacturing industry worldwide are setting energy goals/benchmarks while focusing on reducing emissions. Change in environmental norms, and safety regulations could potential impact the lumber production prices resulting in subdued market growth.

    • Reusable Lumber - Increase in reusable lumber especially for packaging and transportation sector might slow down the growth of lumber market

    • Supply Chain Disruptions - The supply chain disruptions, due to geopolitical tension and labor strike, caused deficit in supply of lumber. Energy crisis and increased raw material prices have created haphazard in the lumber market due to the volatility in prices and demand


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