North America Wood Processing Market (2022-2028) | Outlook, Forecast, Analysis, Revenue, Growth, Industry, Size, Share, Trends, Value, Segmentation & COVID-19 IMPACT

North America Wood Processing Market Synopsis

North America wood processing market is forecasted to grow during the forecast period. Factors such as increasing demand for raw materials, rising population and developments in technologies are contributing to the growth of this market. The market is also driven by factors such as increasing demand for wood products due to growing infrastructure and construction projects, growth in the residential housing sector, and increase in disposable income among consumers.

According to 6Wresearch, the North America Wood Processing Market size is expected to grow during 2022-2028. Demand for wood products is surging in developed countries such as the US and Canada owing to the legalization of hemp production and increasing awareness about environmental benefits of using wood products. In addition, growing urbanization and shifting lifestyle patterns are augmenting the demand for natural wood products across North America.

Drivers for the North America Wood Processing Market

The increasing demand for furniture, residential and commercial buildings, and other applications is anticipated to drive the growth of the wood processing market in North America. There are several drivers that are responsible for the North America Wood Processing Market growth:

The high demand for biofuels is one of the major driver for the growth of this market. The growing use of biomass fuels is boosting the demand for wooden products, including pulp and paper. This increase in demand has resulted in an increase in investments in the wood processing sector, thereby fueling further growth of this market.

Moreover, technological advancements have also led to an increase in the demand for processed woods across various end-user applications such as building materials, automotive components, and furniture. These advancements have led to increased efficiency in wood production by streamlining processes such as sawing and turning operations. In addition, these developments have facilitated greater customization options while reducing production costs. Consequently, all these factors are expected to propel the growth of this market over the forecast period.

Challenges in the North America Wood Processing Market

Some of the key factors that are hampering the North America Wood Processing Market revenue include high transportation costs and tariffs imposed on wood products from Latin America. However, these challenges are expected to be addressed over the forecast period through domestic manufacturing initiatives by the key players in this market.

However, some key challenges faced by this market include:

• Limited availability of raw materials—This constraint limits companies from sourcing high-quality lumber at affordable prices which could hamper their ability to compete with rivals. Furthermore, stringent environmental regulations pose another challenge as they restrict companies from taking up large land parcels for wood processing.
• Limited infrastructure—A lack of skilled workforce and inadequate infrastructure limits companies from scaling up their operations efficiently. This could impact the growth of this market as it would limit their ability to meet the growing demand for processed woods.
• High cost of raw materials—The high cost of raw materials is a key constraint that limits the growth of this market. This can be due to elevated transportation costs, tariffs on imported materials, and other expenses such as environmental taxes.

Market Analysis based on Type

When it comes to wood processing, there are three main types of wood products: wood chips, sawn wood lumber, and engineered wood. In the North American market, each type of product has its own distinct purpose and applications.

Wood chips are the by-product of sawmilling and other industrial processes, and are typically used as fuel or for paper production. Sawn wood lumber is the primary product of sawmills, and is used in construction, furniture making, and other applications where a strong and sturdy material is required. Engineered wood products are created by combining different types of wood fibers together to create a stronger final product; these products are often used in flooring, cabinetry, and other similar applications.

Impact of COVID-19 on the North America Wood Processing Market

The outbreak of COVID-19 has had a significant impact on the Global wood processing market. The pandemic has led to a decrease in demand for wood products, as well as disruptions to the supply chain. This has resulted in a decline in production and investment in the sector. The industry is expected to recover, supported by government stimulus measures and an increase in housing starts. However, the long-term outlook remains uncertain due to the potential for further waves of infection and economic recession.

Variety of woods used in Wood Processing

Various types of woods are used in North America Wood Processing Market share owing to their unique properties. Pine is predominantly used for building materials such as flooring, roofing tiles, and cladding due to its resistance to decay and its low cost. Hemlock timber is preferred for high-end products owing to its high strength, stiffness, and dimensional stability. Oak is favoured for furniture due to its characteristics such as low moisture absorption rate and resistance to insect attack.

End Users in the North America Wood Processing Market

The end-use segmentation includes industrial applications such as construction and manufacturing, residential applications such as flooring and cabinetry, and decorative applications such as countertops and doors. The industrial application segment is anticipated to be the fastest growing in the North America wood processing market during the forecast period. This is primarily due to increasing investment in infrastructure related to new industries such as information technology (IT) and automotive manufacturing. Residential applications are also expected to witness significant growth owing to rising consumer spending patterns across various geographies in North America. The decorative application segment is projected to register a higher growth rate than others due to increasing demand for unique wooden product designs that can add value to homes.

Competitive Landscape for the North America Wood Processing Market

The companies are engaged in various stages of wood processing such as logging, milling, sawing, debarking, and veneering. They offer a range of services including design and engineering solutions, biomass production and procurement, marketing support, and installation & commissioning services.

The high-quality standards demanded by end users are propelling the growth of premium tier players in the North American wood processing market. These companies have been able to invest heavily in advanced technology and equipment to meet stringent quality requirements. They are also able to avail customized services, which helps them gain an edge over their competitors.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2018 to 2021.
• Base Year: 2021.
• Forecast Data until 2028.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• North America Wood Processing Market Outlook
• Market Size of North America Wood Processing Market, 2021
• Forecast of North America Wood Processing Market, 2028
• Historical Data and Forecast of North America Wood Processing Revenues & Volume for the Period 2018 - 2028
• North America Wood Processing Market Trend Evolution
• North America Wood Processing Market Drivers and Challenges
• North America Wood Processing Price Trends
• North America Wood Processing Porter's Five Forces
• North America Wood Processing Industry Life Cycle
• Historical Data and Forecast of North America Wood Processing Market Revenues & Volume By Type for the Period 2018 - 2028
• Historical Data and Forecast of North America Wood Processing Market Revenues & Volume By Wood Chips for the Period 2018 - 2028
• Historical Data and Forecast of North America Wood Processing Market Revenues & Volume By Sawn Wood Lumber for the Period 2018 - 2028
• Historical Data and Forecast of North America Wood Processing Market Revenues & Volume By Others for the Period 2018 - 2028
• Historical Data and Forecast of United States Wood Processing Market Revenues & Volume By Type for the Period 2018 - 2028
• Historical Data and Forecast of United States Wood Processing Market Revenues & Volume By Wood Chips for the Period 2018 - 2028
• Historical Data and Forecast of United States Wood Processing Market Revenues & Volume By Sawn Wood Lumber for the Period 2018 - 2028
• Historical Data and Forecast of United States Wood Processing Market Revenues & Volume By Others for the Period 2018 - 2028
• Historical Data and Forecast of Canada Wood Processing Market Revenues & Volume By Type for the Period 2018 - 2028
• Historical Data and Forecast of Canada Wood Processing Market Revenues & Volume By Wood Chips for the Period 2018 - 2028
• Historical Data and Forecast of Canada Wood Processing Market Revenues & Volume By Sawn Wood Lumber for the Period 2018 - 2028
• Historical Data and Forecast of Canada Wood Processing Market Revenues & Volume By Others for the Period 2018 - 2028
• North America Wood Processing Market - Key Performance Indicators
• North America Wood Processing Market - Import Export Trade Statistics
• North America Wood Processing Market - Opportunity Assessment By Countries
• North America Wood Processing Market - Opportunity Assessment By Type
• North America Wood Processing Market - Top Companies Market Share
• North America Wood Processing Market - Top Companies Profiles
• North America Wood Processing Market - Comparison of Players in Technical and Operating Parameters
• North America Wood Processing Market - Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Countries

• United States
• Canada

By Type

• Wood Chips
• Sawn Wood Lumber
• Others