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(MoneyNewsWire.Net, July 12, 2018 ) Wood processing industry comprises of establishments engaged in sawing dimension lumber, boards, beams, timbers, poles, ties, shingles, shakes, siding, and wood chips from logs or bolts. This industry also includes establishments engaged in treating planed, sawed and shaped wood with creosote or other preservatives such as alkaline copper quat, copper azole, and sodium borates, to prevent decay and to protect against fire and insects.
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The market is valued at more than $480 billion in 2017 due to the high demand for furniture products, fueled by a large middle-class population and rising disposable income.
In the report, the global word processing market is divided into two segments. Sawmills occupy the maximum share around nine-tenth of the market and the wood preservation occupy, the remaining one-tenth of the market.
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China was the largest country in the wood processing market in 2017, accounting for more than three-tenth of the market share. This was mainly due high demand for wood as raw materials in the manufacturing of final wood products, such as furniture, sports equipment, utensils, building material, chests, and pallets. The USA and India followed China as the next largest countries in the market.
The wood processing market is relatively fragmented, with few global players. The top five competitors in the market made up 3.1% of the total in 2017. Weyerhaeuser Company was the largest competitor of the market, followed by West Fraser Timber Co. Ltd., Canfor Corporation, Svenska Cellulosa Aktiebolaget and Interfor Corporation. Weyerhaeuser is a timberland owning company and manufactures forest products such as wood products and cellulose fibers. The company owns or controls around 7 million acres of timberlands and manage other timberlands under long term licensing agreements in Canada.
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