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(MoneyNewsWire.Net, July 12, 2018 ) The wood products manufacturing industry comprises establishments engaged in manufacturing of products derived from wood. This industry includes companies manufacturing lumber, plywood, veneers, wood containers, wood flooring, wood trusses, manufactured homes and prefabricated wood buildings. Wood products product process include sawing, planning, shaping, laminating, and assembling of wood products into bolts or lumber.
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The market is valued at nearly $2 trillion due to the economic growth in the region, leading to increased demand for wood and wood products from manufacturing, and consumer goods industries.
In the report, the global wood products manufacturing market is divided into three segments. Finished wood products occupy the major portion of the market, accounting for three-fifth of the market share and the remaining two-fifth is occupied by the other two segments, wood processing and manufactured wood materials.
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China was the largest country in the wood products manufacturing market in 2017, accounting for one-fourth of the market share. This was mainly due to the growth in the country’s population and economy, giving rise to its real estate, housing and furniture industries. Research and development into the timber market will continue to drive the market in the forecast period. India and Brazil followed China as the next largest countries in the market.
The wood products manufacturing market is relatively fragmented, with few global players. The top five competitors in the market made up around 2% of the total market in 2017. Georgia-Pacific Corporation was the largest competitor of the market, followed by Weyerhaeuser Company, West Fraser Timber Co. Ltd., Andersen Corporation and Celulosa Arauco y Constitución. Georgia-Pacific was founded in 1927 and is headquartered in Atlanta, Georgia, US. The company offers its products through an array of branded and private label consumer and commercial tissue products.
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