Timber plants market Size, Share, Growth, and Industry Analysis, By Grade (CLT and Glulam), By Application (Residential Building, Commercial Building, Institutional Building, Industrial Facility and Others), and Regional Insights and Forecast to 2031

Updated On: 29 April 2024

Timber Plants Market Report Overview

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The global timber plants market size was USD 3990.3 million in 2022 and is expected to reach USD 6180.44 million by 2031, exhibiting a CAGR of 4.5% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the timber plants market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Timber plants are a type of plants that produce wood, which is a material used for various purposes such as construction, furniture, paper, etc. Timber plants are usually medium or large trees that have a woody stem and branches. Timber plants can be classified into three categories: hardwoods, softwoods, and semi-hardwoods, depending on their properties and uses.

Hardwoods are the most durable and resistant type of timber, used for high-quality products such as floors, ceilings, and musical instruments. Softwoods are the least durable and resistant type of timber, used for low-quality products such as crates, crafts, and paper. Semi-hardwoods are somewhere in between hardwoods and softwoods, used for medium-quality products such as furniture and doors.

COVID-19 Impact: Pandemic Decreased the Market Demand due to Restrictions Imposed on Travelling

The COVID-19 pandemic has had a significant impact on the timber plants market share affecting both the supply and demand sides of the industry. On the supply side, the lockdown measures and travel restrictions imposed by various governments have disrupted the production and transportation of timber plants, leading to shortages and delays in the market. Moreover, the pandemic has also affected the availability and cost of labor, as well as the health and safety of workers in the timber sector. On the demand side, the Covid-19 crisis has reduced the consumption of timber products in various end-use industries, such as construction, furniture, and paper. The reduced economic activity and consumer spending have also lowered the demand for timber products, especially in the export markets. Furthermore, the pandemic has also increased the environmental and social awareness among consumers and stakeholders, who are now more concerned about the sustainability and traceability of timber products.

Latest Trends

"Shift from Natural Forests to Planted Forests is expected to Fuel the Growth in the Market"

The market is increasingly relying on planted forests as a source of raw material, as natural forests are facing depletion and degradation due to deforestation, overexploitation, climate change, and biodiversity loss. Planted forests offer several advantages over natural forests, such as higher productivity, quality, uniformity, resilience, and sustainability. Moreover, planted forests can also provide multiple ecosystem services, such as carbon sequestration, soil conservation, water regulation, and biodiversity conservation. The market is witnessing a growing demand for certified timber products, which are verified by independent third-party organizations to meet certain standards of legality, sustainability, quality, and traceability. Certified timber products can help consumers and stakeholders to make informed choices and to ensure that their purchases do not contribute to illegal logging, deforestation, or human rights violations. Certified timber products can also enhance the reputation and competitiveness of timber producers and traders in the market.

Timber Plants Market Segmentation

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• By Grade Analysis

According to type, the market can be segmented into CLT and Glulam.

• By Application Analysis

Based on age, the market can be divided into residential building, commercial building, institutional building, industrial facility and others.

Driving Factors

"Increasing Complexity and Diversity of Machine Learning Models to Foster the Market Growth"

The global population is projected to reach 8.5 billion by 2030, with more than 60% living in urban areas. This will create a huge demand for timber products in various sectors such as construction, furniture, and paper, especially in the emerging economies of Asia, Africa, and Latin America. Moreover, the urbanization trend will also stimulate the demand for timber products that can enhance the quality of life, comfort, and well-being of urban dwellers, such as engineered wood products, biobased products, and smart wood products. The construction sector is one of the largest consumers of timber products, accounting for a lot of the global wood consumption. The construction sector is expected to grow, driven by the increasing demand for housing, infrastructure, and commercial buildings in urban areas. Timber products can offer various advantages for the construction sector, such as low cost, high strength-to-weight ratio, thermal insulation, sound absorption, and aesthetic appeal. Moreover, timber products can also contribute to the green building movement, as they can reduce the energy consumption, carbon emissions, and waste generation of buildings.

"Development of New Technologies and Innovations to Result in the Expansion of the Market"

The market is witnessing a rapid development of new technologies and innovations that can improve the efficiency, quality, diversity, and competitiveness of timber products. Biotechnology is the application of biological processes or organisms to produce or modify timber products or their components. Biotechnology can enhance the productivity, quality, resilience, and sustainability of timber plants, as well as to create new or improved timber products with novel properties or functions. Some examples of biotechnology applications in the timber sector are genetic engineering, tissue culture, biofertilizers, biopesticides, etc. Biofuels are fuels that are derived from biomass or biological sources such as wood or other plants. Biofuels can provide a renewable and cleaner alternative to fossil fuels in various applications such as transportation, heating, and electricity generation. Biofuels can also reduce greenhouse gas emissions and dependence on non-renewable resources. Some examples of biofuels from timber plants are ethanol, biodiesel, biogas, etc.

Restraining Factor

"Competition from Alternative Materials to Hamper the Market Growth"

The market is facing stiff competition from alternative materials that can substitute or complement timber products in various applications. Metals are materials that are composed of metallic elements or alloys. Metals have high strength, durability, conductivity, and ductility compared to timber products. Metals can be used in various applications such as construction, transportation, machinery, etc.

Timber Plants Market Regional Insights

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"Asia Pacific to Lead the Market Owing to a Strong Presence of Leading Players"

The Asia Pacific region has shown the highest timber plants market growth. This is because of the implementation of supportive policies and regulations that have promoted the use of engineered wood products in various regions and countries. Some of the policies and regulations include building codes, green building standards, carbon taxes, subsidies, etc..

Key Industry Players

"Key Players Are Employing Advanced Technologies In Order To Stimulate Further Growth Of The Market  "

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

List of Market Players Profiled

• Stora Enso (Finland and Sweden)
• Binderholz (Austria, Germany, Great Britain, Latvia, Finland and the U.S)
• KLH Massivholz (Austria)
• Mayr-Melnhof Holz (Austria)
• MHM Abbund-Zentrum (Germany)
• Hasslacher Norica (Austria)
• Merk Timber (ZÜBLIN) (Germany)
• Lignotrend (Germany)
• Eugen Decker (Germany)
• XLam Dolomiti (Italy)
• HMS Bausysteme (Austria)
• W. u. J. Derix (Germany)
• Schilliger Holz (Switzerland)
• Structurlam (Canada)
• Mosser (Austria)
• Bullinger (Germany)
• SCHNEIDER (Germany)
• Pfeifer Holz (Austria, Germany and Czech Republic)

Report Coverage

This report examines an understanding of the timber plants market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.