This briefing examines how the wood commodity is performing globally and in the largest countries in terms of wood supply and consumption. The report also provides data and analysis for wood prices, imports, exports and top consuming industries as well as global economic forecasts. The supply, consumption and main consuming industries overview provides benchmarks against other countries globally.
This report comes in PPT.
Going forward, the new construction projects are expected to rely more on wood products made of large, solid wood panels or columns amid growing interest in construction from mass timber. As the wood requires less energy to process compared to other materials such as steel or concrete, wood is increasingly viewed as a renewable, low-carbon and energy-efficient option for buildings. In addition, recent changes adopted by International Building Code (IBC) 2021, a model building code developed by the International Code Council (ICC), assure of the safety of mass timber buildings and allow construction of developments using mass timber that are up to 18 storeys high.
Digital innovations allow wood producers to better monitor and manage forests, increase productivity and improve production quality, while big data analysis provides opportunities for better process management and production planning. Innovations in technologies are set to play an important role in the industry’s future development, mapping resources and offering cost-cutting solutions and production improvements.
Wood is set to continue to be excessively used in prefabricated and modular houses as demand for more affordable housing is increasing. The construction sector increasingly adopts innovative and digital tools such as building information modelling or 3D modelling, making the construction of prefabricated buildings easier.
Warming climate and intensifying adverse weather events are anticipated to continue to pose major threats to the world’s forestry resources. According to the recent study from the American Association for the Advancement of Sciences, without a significant reduction of the current disturbance rates, undisturbed forests are expected to disappear entirely in humid tropical regions by 2050. As a result, the global community is encouraged to strengthen sustainable forestry management practices in order to address detrimental long-term changes in forestry.
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