North America Wood Products Market (Softwood Lumber, Oriented Strand Board & Plywood): Insights & Forecast with Potential Impact of COVID-19 (2021-2025)

The North American wood products market is forecasted to reach US$229.27 billion by 2025, witnessing growth at a CAGR of 6.75% over the period spanning 2021-2025. Factors such as growing population, escalating new residential construction, high availability of forest reserves, surging demand for wooden furniture in offices and the rising inclination of the population towards home repair and remodeling would drive the growth of the market.

However, growth would be challenged by price fluctuations in North American softwood lumber and the rising availability of alternatives for wood products. A few notable trends include accelerating preference for engineered wood, an upsurge in housing starts, growing investment in the development and renovation of tourism infrastructure and an upswing in wood product manufacturing.

On the basis of type, demand for North American wood products can be divided into the following two categories: Softwood Lumber and Engineered Wood Products (EWP).

The fastest growing market in the region is the U.S., due to the rising inclination of the population towards home repair and remodeling, a rebound in new residential construction, the high presence of forest reserves in the region, increasing disposable income and an upswing in wood product manufacturing on account of aesthetically pleasing properties of wood, and the perception of wood as an environmentally friendly material.

Further, the sudden outbreak of COVID-19 is causing an adverse disruption in the business environment, affecting the production and consumption of wood products, resulting in slower growth of the wood products market in North America.

Scope of the report:

• The report provides a comprehensive analysis of the North American wood products market.
• The major country markets (the U.S. and Canada) have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Weyerhaeuser Company, West Fraser Timber Co. Ltd., Canfor Corporation, Louisiana-Pacific Corporation, Interfor Corporation and Conifex Timber Inc.) are also presented in detail.

Key Target Audience:

• Wood Products Manufacturers
• Traders, Importers and Exporters
• Raw Material Suppliers and Distributors
• Industry Investors
• Associations, Industrial and Government Bodies

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