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According to The Business Research Company Manufactured Wood Materials Market Report, Asia Pacific was the largest region in the world market for manufactured wood materials, representing 49.9% of the total in 2019. It was followed by North America, Western Europe, then the other regions. Going forward, the fastest growing regions in the manufactured wood materials market will be the Middle East, and Asia Pacific, where growth will be at CAGRs of 5.6% and 5.05% respectively. These will be followed by Eastern Europe and North America, where markets are expected to grow at CAGRs of 5.0% and 4.5% respectively.
The market share of manufactured wood materials in Asia-Pacific was $ 132.1 billion in 2019. The market represented 0.43% of the region’s GDP. In terms of per capita consumption, the market was $ 31.4, or $ 3.7 less than the world average. The Asia-Pacific Manufactured Wood Materials Market represented 51.0% of the region’s wood products market in 2019.
The global manufactured wood materials market size has reached a value of nearly $ 264.6 billion in 2019, having grown at a compound annual growth rate (CAGR) of 6.9% since 2015. The market is expected to grow from $ 264.6 billion in 2019 to $ 256.9 billion in 2020 at the rate of -2.92%. The drop is mainly due to containment and social distancing standards imposed by various countries and the economic slowdown in countries due to the COVID-19 outbreak and measures to contain it. The market is then expected to recover and grow at a CAGR of 8.07% from 2021 advertising reach $ 315.7 billion in 2023. The market is expected to reach $ 367.4 billion by 2025 and $ 525.4 billion by 2030.
The commercial research company‘s report titled Global Manufactured Wood Materials Market Report 2020-30: Impact and Recovery of COVID-19 Covers major Manufactured Wood Material companies, Manufactured Wood Materials market share by company, Manufactured Wood Material manufacturers, Manufactured Wood Material infrastructure market size, and Wood Materials market forecast manufactured. The report also covers the global manufactured wood materials market and its segments.
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The Asia-Pacific region market is supported by the presence of a large end-user population in countries such as China, India, Japan and other Southeast Asian countries. The region is characterized by emerging economies, an increase in construction spending and an increase in disposable income. It is also supported by an increase in demand from end-user industries such as construction and furniture manufacturing and the presence of extensive forest cover in countries such as China, India, Indonesia and Indonesia. other Southeast Asian countries. According to the World Data Bank in 2016, India and Japan had a forest area of 23.8% and 68.5% of their total area. The region’s market is also supported by government initiatives from countries like India to improve domestic furniture manufacturing. For example, the Indian government announced in July 2020 that the Ministry of Industry Promotion and Domestic Trade is working on the development of a furniture group and is working to import timber at affordable prices, thus supporting the market for manufactured wood materials in the region. China, meanwhile, is the world’s largest construction market, driving demand for manufactured wood materials in the region. Thus, the market for manufactured wood materials in Asia-Pacific is expected to grow to reach $ 191.3 billion in 2025 at a CAGR of 9.1%, and to $ 287.2 billion in 2030 at a CAGR of 8.5%.
Global Manufactured Wood Materials Market Report 2020-30: Impact and Recovery of COVID-19 is part of a series of new reports from The commercial research company which provide market overviews, analyze and forecast market size and growth for overall market, segments and geographies, trends, drivers, restraints, revenue, profiles and market share from leading competitors in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are backed by 150,000 datasets, in-depth secondary research, and proprietary information from interviews with industry leaders. A team of highly experienced and expert analysts and modelers provide market analysis and forecast. The reports identify major countries and segments for opportunities and strategies based on market trends and approaches of major competitors.
Here is a list of similar reports from the Business Research Company:
Global Wood Products Market Report 2020-30: Impact and Recovery of COVID 19
Global Wood Processing Market Report 2020-30: Impact and Recovery of COVID 19
Global Wood and Paper Machinery Market Report 2020-30: Impact and Recovery of COVID 19
Global Unfinished Paper Manufacturing Market Report 2020
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