The finished wood products market size is expected to see strong growth in the next few years. It will grow to $449.38 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. Forecasted growth is tied to mass timber construction, eco-friendly materials, health considerations, wood in outdoor spaces, and energy-efficient processing. Major trends include innovative finishes, digital woodworking, customized craftsmanship, wooden flooring innovations, collaborations with designers/architects, and R&D in timber tech.
The finished wood products manufacturing market is set to see favorable growth, bolstered by the expected steady economic expansion in both developed and developing nations. Forecasts from the International Monetary Fund (IMF) indicate a global GDP growth of 3.3% in 2021, followed by a further rise to 3.4% in 2022. The resurgence in commodity prices, following a downturn in the historical period, is predicted to significantly contribute to this economic upswing. The US economy is poised for stable growth throughout the projected period, while emerging markets are forecasted to sustain a slightly quicker growth rate compared to developed markets. This strong economic growth is likely to spur both public and private investments, encourage joint ventures, and attract foreign direct investments in end-user markets, thereby propelling the finished wood products manufacturing market during the forecast timeframe.
The growth of the finished wood products market is further propelled by the expanding real estate industry. The real estate sector encompasses a broad spectrum of activities related to properties, including construction, renting, valuation, promotion, and administration, spanning commercial, residential, agricultural, and industrial properties. Finished wood products play a pivotal role in the real estate sector, being extensively utilized for interior and exterior design, construction, and furnishing to enhance properties' aesthetic appeal, functionality, and overall quality. A notable example is the construction sector's performance, as highlighted by the United States Census Bureau in May 2023, reporting a 3.8% increase in construction spending from $1,768.2 billion in March 2022 to $1,834.7 billion in March 2023. Similarly, the UK's construction sector witnessed a record 12.7% annual rise in 2021, as reported by the Office for National Statistics in February 2022. These indicators underscore the pivotal role of the expanding real estate industry in driving the growth of the finished wood products market in the foreseeable future.
The outbreak of the COVID-19 disease served as a substantial impediment to the finished wood products market in 2022, causing disruptions in supply chains due to trade restrictions and a decline in consumption resulting from global government-imposed lockdowns. COVID-19, an infectious disease characterized by flu-such as symptoms, was first identified in Wuhan, Hubei province, China, in 2019, subsequently spreading globally, affecting regions including Western Europe, North America, and Asia. National governments implemented measures to contain transmission, leading to the suspension of manufacturing activities and a decline in economic activity, with countries enforcing lockdowns. The business impact persisted throughout 2021 and into 2022. However, the expectation is that the finished wood products market will rebound over the forecast period, considering the pandemic as a 'black swan' event unrelated to persistent or fundamental weaknesses in the market or the global economy.
Companies operating in the finished wood products market are leveraging 3D printing technology to develop both lightweight structural and non-structural wooden products. This innovative approach involves creating three-dimensional physical objects from digital designs, utilizing models constructed with a brown, very fine, granular powder derived from wood chips. 3D printing proves instrumental in the rapid and cost-effective manufacturing of wooden products with intricate geometries. Its benefits include rapid prototyping, enhanced assembly line efficiency, reduced turnaround time, increased design flexibility, and minimized material wastage, showcasing significant potential for this technology. For instance, in March 2021, JK Cement, an India-based cement manufacturing company, introduced JKC Wood Amore, an Italian wood finish designed to offer a superior finish, appealing aesthetics, and increased durability for wood surfaces.
Major companies in the finished wood products market are focusing on product innovation to bolster their profitability. A notable trend is the introduction of transition range products, designed to encourage households to make sustainable choices by opting for longer-lasting items that can be reused. In September 2023, Inter IKEA Systems B.V., a Netherlands-based manufacturer and provider of wood-based furniture, unveiled three new collections as part of its Transitions range - Vivid Wonderland, Glorious Green, and Simple Serenity. These collections feature items that evoke a sense of tranquility and incorporate elements of nature into living spaces, including gentle and natural fabrics, green decorative accents, and indoor plants. This strategic innovation aligns with the growing consumer demand for sustainable and environmentally friendly choices in the finished wood products market.
Major companies operating in the finished wood products market report are Apple Inc., Alphabet Inc., Comcast Corporation, Amazon.com Inc., Meta Platforms Inc., Sony Corp., The Walt Disney Company, Tencent Holdings Ltd., Viacom Inc., CBS Corporation, Financière de l'Odet SA, Live Nation Entertainment, Spotify Company, Universal Music Group, Vivendi SA, Downtown Music Holdings LLC, Naspers Ltd., Warner Music Group, FUJI MEDIA HOLDINGS INC., Merlin Limited, BMG Rights Management GmbH, Kobalt Music Group, Orchard Enterprises NY Inc., Hipgnosis Songs Fund Limited, Reservoir Media Management Inc., Ingrooves Music Group, Round Hill Music Royalty Fund Ltd., EMPIRE Distribution, Records and Publishing Inc., United Masters lnc., Symphonic Distribution LLC, ONErpm, Amuse.io AB, Stem Disintermedia Inc., TuneCore Inc., DistroKid LLC.
Asia-Pacific was the largest region in the finished wood products market in 2023. Western Europe was the second largest in the global finished wood products market. The regions covered in the finished wood products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the finished wood products market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
Primary types of finished wood products include millwork, prefabricated homes, wood pallets & skids, and other similar products. Prefabricated homes, or prefabs, are specialized dwelling structures constructed off-site in standardized components for convenient shipping and installation. These products are distributed through both online and offline channels and find applications in both household and commercial settings.
The finished wood products market research report is one of a series of new reports that provides finished wood products market statistics, including finished wood products industry global market size, regional shares, competitors with a finished wood products market share, detailed finished wood products market segments, market trends and opportunities, and any further data you may need to thrive in the finished wood products industry. This finished wood products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The finished wood products market consists of sales of lacquer, alkyd, polyurethane, acrylic, shellac, and resins through retail sales and direct sales. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Table of Contents
Executive Summary
Finished Wood Products Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on finished wood products market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for finished wood products? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Type: Millwork; Prefabricated Home; Wood Pallets & Skids; Other Finished Wood Products
2) By Distribution Channel: Offline; Online
3) By Application: Household; Commercial
Subsegments Covered: Wood Window and Door; Cut Stock, Resawing Lumber, and Planning; Other Millwork (including Flooring)
Key Companies Mentioned: Apple Inc.; Alphabet Inc.; Comcast Corporation; Amazon.com Inc.; Meta Platforms Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Apple Inc.
- Alphabet Inc.
- Comcast Corporation
- Amazon.com Inc.
- Meta Platforms Inc.
- Sony Corp.
- The Walt Disney Company
- Tencent Holdings Ltd.
- Viacom Inc.
- CBS Corporation
- Financière de l'Odet SA
- Live Nation Entertainment
- Spotify Company
- Universal Music Group
- Vivendi SA
- Downtown Music Holdings LLC
- Naspers Ltd.
- Warner Music Group
- FUJI MEDIA HOLDINGS INC.
- Merlin Limited
- BMG Rights Management GmbH
- Kobalt Music Group
- Orchard Enterprises NY Inc.
- Hipgnosis Songs Fund Limited
- Reservoir Media Management Inc.
- Ingrooves Music Group
- Round Hill Music Royalty Fund Ltd.
- EMPIRE Distribution, Records and Publishing Inc.
- United Masters lnc.
- Symphonic Distribution LLC
- ONErpm
- Amuse.io AB
- Stem Disintermedia Inc.
- TuneCore Inc.
- DistroKid LLC
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 250 |
Published | February 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 338.72 Billion |
Forecasted Market Value ( USD | $ 449.38 Billion |
Compound Annual Growth Rate | 7.3% |
Regions Covered | Global |
No. of Companies Mentioned | 35 |