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According to The Business Research Company’s manufactured wood materials market report, Asia Pacific was the largest region in the global manufactured wood materials market, accounting for 49.9% of the total in 2019. It was followed by North America, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the manufactured wood materials market will be the Middle East, and Asia Pacific, where growth will be at CAGRs of 5.6% and 5.05% respectively. These will be followed by Eastern Europe, and North America, where the markets are expected to grow at CAGRs of 5.0% and 4.5% respectively.
Asia-Pacific’s manufactured wood materials market share was worth $132.1 billion in 2019. The market accounted for 0.43% of the region’s GDP. In terms of per capita consumption, the market accounted for $31.4, $3.7 lower than the global average. The Asia-Pacific manufactured wood materials market accounted for 51.0% of the region’s wood products market in 2019.
The global manufactured wood materials market size reached a value of nearly $264.6 billion in 2019, having increased at a compound annual growth rate (CAGR) of 6.9% since 2015. The market is expected to decline from $264.6 billion in 2019 to $256.9 billion in 2020 at a rate of -2.92%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8.07% from 2021 ad reach $315.7 billion in 2023. The market is expected to reach $367.4 billion by 2025 and $525.4 billion by 2030.
The Business Research Company’s report titled Manufactured Wood Materials Market Global Report 2020-30: COVID-19 Impact And Recovery covers major manufactured wood materials companies, manufactured wood materials market share by company, manufactured wood materials manufacturers, manufactured wood materials infrastructure market size, and manufactured wood materials market forecasts. The report also covers the global manufactured wood materials market and its segments.
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The market in the Asia-Pacific is supported by the presence of a large end user population in countries such as China, India, Japan, and other Southeast Asian countries. The region is characterized by emerging economies, increasing spends on construction, and rise in disposable income. It is also supported by an increase in demand from end user industries such as construction and furniture manufacturing and the presence of extensive forest cover in countries such as China, India, Indonesia, and other Southeast Asian countries. According to the World Data Bank in 2016, India and Japan had a forest area of 23.8% and 68.5% of their total land area. The market of the region is also supported by government initiatives by countries such as India, to improve the domestic manufacturing of furniture. For instance, the government of India announced in July 2020 that the Department for Promotion of Industry and Internal Trade is working for development of a furniture cluster and is working to import wood at affordable rates, thus supporting the manufactured wood materials market in the region. China, on the other hand, is the world’s largest market for construction which drives the demand for manufactured wood materials in the region. Thus, the Asia-Pacific manufactured wood materials market is expected to grow to $191.3 billion in 2025 at a CAGR of 9.1%, and to $287.2 billion in 2030 at a CAGR of 8.5%.
Manufactured Wood Materials Market Global Report 2020-30: COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Here Is A List Of Similar Reports By The Business Research Company:
Wood Products Global Market Report 2020-30: COVID 19 Impact and Recovery
Wood Processing Global Market Report 2020-30: COVID 19 Impact and Recovery
Woodworking And Paper Machinery Global Market Report 2020-30: COVID 19 Impact and Recovery
Unfinished Paper Manufacturing Global Market Report 2020
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