Global Sawn Timber Market Overview
The Sawn Timber Market Size was estimated at 244.91 (USD Billion) in 2022. The Sawn Timber Industry is expected to grow from 253.82 (USD Billion) in 2023 to 350.0 (USD Billion) by 2032. The Sawn Timber Market CAGR (growth rate) is expected to be around 3.64% during the forecast period (2024 - 2032).
Key Sawn Timber Market Trends Highlighted
Key market drivers for the Sawn Timber Market include growing clientele from construction and infrastructural developments, population growth and urbanization, and high awareness of the environment. The largest share of sawn timber’s demand is made up by its usage within the construction industry. It is population increase along with urbanization that is driving the demand for more housing and office complexes, thus eventually leading to the need for sawn timber. Additionally, consumers are also becoming more aware of the effects of construction on the environment, hence the need for environmentally friendly materials such as timber.
The latest developments in the Sawn Timber Market reveal an increasing adoption of engineered wood products (EWP). EWP is timber-based with high added value and offers improved performance than conventional solid wood timber products. The rise in EWP demand is caused by the need for building and lightweight materials, especially for the construction industry. Moreover, it is also the trend of consumers and businesses to promote good forestry, which has been becoming dormant.
Among the new possibilities within the Sawn Timber Market is the advancement of technologies for wood and timber processing and production. These technologies help in manufacturing more superior quality and effective sawn timber thereby offering value for money to the customer. Furthermore, there is scope for finding different ways to market and promote the products to wider audiences.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Sawn Timber Market Drivers
Rising Demand from Construction Industry
The construction sector occupies the throne as the greatest user of sawn timber, as it accounts for nearly 70% of consumption. The rise in population and urbanization trends is then boosting the construction of new residential and commercial properties and, consequently, the consumption of sawn timber. Countries like China and India belong to the developing countries that record a much higher sawn timber usage due to the booming Construction sector. The demand for Sawn Timber in building structures is expected to persist owing to its strength and durability as a material for roofs, frames and other structural works.
Growing Popularity of Wooden Pallets
Sawn timber is widely used in wooden pallet production, which is indispensable for the transportation and storage of goods. The growing globalization of trade and the rising e-commerce industry are contributing to the increased demand for wooden pallets. Sawn timber is the material of choice for pallets because of its strength and durability. It is also a relatively cheap material. This is why the growing popularity of wooden pallets is expected to drive the demand for sawn timber.
Increasing Adoption of Sustainable Forestry Practices
Consumers are more and more concerned with the environmental impact of their purchases, and this is increasing the demand for sawn timber from sustainably managed forests. In the context of forestry, this concern is addressed with the idea of sustainable forestry adopted in order to ensure the integrity and biodiversity of ecosystems. While sawn timber from certified sources, such as from the Forest Stewardship Council, is becoming increasingly popular as consumers are trying to minimize their environmental impact, the growth of demand for responsible sources is expected to be more intense with increased adoption of sustainable forestry.
Sawn Timber Market Segment Insights:
Sawn Timber Market Wood Type Insights
The Sawn Timber Market is segmented by wood type as softwood and hardwood. The softwood segment is expected to dominate the market with a major share of the Sawn Timber Market in 2023. It is used in manufacturing wood for various applications such as construction, making furniture, and others. The utilization of softwood is rising due to its strength, durability, and low price as compared to hardwood. The hardwood segment is expected to show stable growth over the forecast period. It is used in making high-class furniture, beautiful floors, and other products that need to have an eye-friendly look.The revenue of the hardwood segment for the Sawn Timber Market is expected to reach USD 126.52 billion by 2032, registering a CAGR of 3.2%. The market growth for both segments primarily depend on the growth in construction, disposable income, and urbanization.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Sawn Timber Market Product Type Insights
The Sawn Timber Market is segmented by Product Type into Planks, Boards, and Battens. Planks are the largest segment and are expected to grow at a CAGR of 3.4% from 2024 to 2032. Boards are the second largest segment and are expected to grow at a CAGR of 3.2% during the same period. Battens are the smallest segment and are expected to grow at a CAGR of 2.8% from 2024 to 2032. The growth of the Sawn Timber Market is being driven by the increasing demand for wood products in the construction industry.
Sawn Timber Market Application Insights
The Sawn Timber Market is segmented based on application into construction, furniture, packaging, and others. Among these segments, the construction segment held the largest market share in 2023 and is expected to continue to dominate the market over the forecast period. The growth of the construction industry, particularly in developing countries, is driving the demand for sawn timber for use in residential and commercial buildings. The furniture segment is another major application of sawn timber, and the growing demand for furniture, especially in emerging markets, is expected to contribute to the growth of this segment.The packaging segment is also expected to witness steady growth, driven by the increasing demand for packaging materials in various industries.
Sawn Timber Market Treatment Insights
The sawn timber market is segmented by Treatment into Untreated and Treated. In 2023, the Untreated segment held the majority of the market share, accounting for around 60% of the sawn timber market revenue. The Treated segment is expected to grow at a faster CAGR during the forecast period, owing to the increasing demand for treated sawn timber in construction and other end-use industries. Treated sawn timber is more resistant to decay, insects, and fire, making it a more durable and cost-effective option for many applications. The growing demand for sustainable and eco-friendly building materials is also driving the growth of the Treated segment.
Sawn Timber Market Grading Insights
The grading segment plays an important role in the Sawn Timber Market segmentation. Based on grading, the market is divided into three subcategories: Select, Standard, and Utility. Select is the highest grade of sawn timber and is characterized by its excellent quality and appearance. Standard grade is the most common type of sawn timber and is used for general construction purposes. Utility grade is the lowest grade of sawn timber and is used for applications where appearance is not a priority. The Sawn Timber Market segmentation data suggests that Select grade accounted for the largest revenue share in 2023, followed by Standard and Utility grades.The growth of the Select grade segment is attributed to the increasing demand for high-quality timber in the construction industry. The Standard grade segment is expected to witness steady growth due to its wide range of applications. The Utility grade segment is projected to grow at a slower pace compared to other grades.
Sawn Timber Market Regional Insights
Regionally, North America is expected to hold the largest market share, followed by Europe, APAC, South America, and MEA. The growth in North America is attributed to the increasing demand for sawn timber in the construction industry, while the growth in Europe is driven by the rising demand for sawn timber in the furniture industry. The APAC region is expected to witness significant growth due to the increasing demand for sawn timber in the construction and packaging industries.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Sawn Timber Market Key Players And Competitive Insights:
Major players in the Sawn Timber Market industry are responding to the growing demand for sustainable forestry practices by investing in reforestation and forest management programs. Leading Sawn Timber Market players are also implementing new technologies to improve efficiency and reduce environmental impact. The Sawn Timber Market development is being driven by a number of factors, including increasing population, rising incomes, and growing urbanization. The Competitive Landscape of Sawn Timber Market is expected to remain competitive, with a number of key players vying for market share.Leading Sawn Timber Market players include Weyerhaeuser, West Fraser, Canfor, and Georgia-Pacific. These companies have a strong presence in key markets and are well-positioned to benefit from the growing demand for sawn timber. Weyerhaeuser is one of the largest producers of sawn timber in the world, with operations in North America, Europe, and Asia. The company is focused on sustainable forestry practices and has a number of initiatives in place to reduce its environmental impact. West Fraser is a leading producer of softwood lumber in North America. The company has a strong focus on innovation and is constantly developing new products and processes to meet the needs of its customers. Canfor is a producer of sustainable forest products, including sawn timber, pulp, and paper. The company has a strong commitment to sustainable forestry and is working to reduce its environmental impact. Georgia-Pacific is a leading manufacturer of building products, including sawn timber, plywood, and OSB. The company has a strong focus on customer service and is committed to providing high-quality products.One of the major competitors in the Sawn Timber Market is Stora Enso. The company is headquartered in Finland and has operations in over 30 countries. Stora Enso is a leading producer of pulp, paper, and sawn timber. The company has a strong focus on sustainability and is committed to reducing its environmental impact. Stora Enso is well-positioned to benefit from the growing demand for sawn timber, particularly in emerging markets.
Key Companies in the Sawn Timber Market Include:
LouisianaPacific
Interfor
Sappi
Oji Holdings
Metsä Group
Canfor
Resolute Forest Products
West Fraser
International Paper
UPMKymmene
DS Smith
Mondi
Stora Enso
Smurfit Kappa
Weyerhaeuser
Sawn Timber Market Industry Developments
The sawn timber market is projected to grow from USD 253.82 billion in 2023 to USD 350.0 billion by 2032, exhibiting a CAGR of 3.64% during the forecast period. The market growth is primarily driven by increasing demand for sawn timber in construction, furniture making, and other industrial applications. The construction industry is the largest consumer of sawn timber, with a significant share of the market. Rising urbanization, population growth, and infrastructure development are key factors contributing to the demand for sawn timber in the construction sector. Additionally, the growing trend of using sustainable and eco-friendly materials in construction is further driving the demand for sawn timber, as it is a renewable and biodegradable resource.Recent news developments in the sawn timber market include:- In January 2023, Stora Enso, a leading forest products company, announced plans to invest EUR 1 billion in a new production line for cross-laminated timber (CLT) in Finland. This investment is expected to increase the company's CLT production capacity by 50% and meet the growing demand for sustainable building materials.- In February 2023, Weyerhaeuser, another major forest products company, announced a partnership with GreenFirst Forest Products to develop and market a new line of low-carbon sawn timber products. These products are designed to have a lower environmental impact compared to traditional sawn timber, aligning with the increasing demand for sustainable building materials.
Sawn Timber Market Segmentation Insights
Sawn Timber Market Wood Type Outlook
Softwood
Hardwood
Sawn Timber Market Product Type Outlook
Planks
Boards
Battens
Sawn Timber Market Application Outlook
Construction
Furniture
Packaging
Sawn Timber Market Treatment Outlook
Untreated
Treated
Sawn Timber Market Grading Outlook
Select
Standard
Utility
Sawn Timber Market Regional Outlook
North America
Europe
South America
Asia Pacific
Middle East and Africa
| Report Attribute/Metric | Details |
| Market Size 2022 | 244.91(USD Billion) |
| Market Size 2023 | 253.82(USD Billion) |
| Market Size 2032 | 350.0(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 3.64% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | LouisianaPacific, Interfor, Sappi, Oji Holdings, Metsä Group, Canfor, Resolute Forest Products, West Fraser, International Paper, UPMKymmene, DS Smith, Mondi, Stora Enso, Smurfit Kappa, Weyerhaeuser |
| Segments Covered | Wood Type, Product Type, Application, Treatment, Grading, Regional |
| Key Market Opportunities | Renewable construction Prefabricated housing Wood-based composites Emerging economies Growing demand in packaging |
| Key Market Dynamics | The rising construction industry, growing demand for sustainable building materials, increasing urbanization technological advancements, fluctuating raw material prices |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Sawn Timber Market is projected to reach USD 253.82 billion in 2023.
The Sawn Timber Market is projected to grow at a CAGR of 3.64% from 2024 to 2032.
North America is the largest regional market for Sawn Timber, accounting for over 50% of consumption.
Sawn Timber is primarily used in construction, furniture making, and packaging.
Key competitors in the Sawn Timber Market include Weyerhaeuser, Georgia-Pacific, and Canfor.
Key growth drivers of the Sawn Timber Market include increasing demand from the construction industry and rising disposable incomes.
Key challenges facing the Sawn Timber Market include deforestation and the availability of sustainable alternatives.
The Sawn Timber Market is projected to reach USD 350.0 billion by 2032.
The Russia-Ukraine conflict has disrupted the supply chain for Sawn Timber, leading to higher prices and shortages.
Key trends in the Sawn Timber Market include the increasing adoption of sustainable forestry practices and the use of technology to improve efficiency.
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