Logs Market is Estimated to Reach Revenue of US$ 228.3 Billion by 2031; Softwood was the Largest Type Segment in 2022

Wilmington, Delaware, United States, June 14, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - In 2022, the Logs Market was estimated to be worth US$ 159 billion. It is expected to grow at a 4.1% CAGR from 2023 to 2031, reaching US$ 228.3 billion by the end of 2031.

With customers and companies increasingly expecting ethically sourced products, sustainable practices, and certifications are set to play a big role in the market. Furthermore, the emphasis on circular economy concepts is expected to stimulate demand for recycled and salvaged wood.

Growth in the building industry is expected to increase demand for timber and wood-based components, making logs a valuable resource. Logs are the principal raw material used to manufacture timber, plywood, and other wood products used in building endeavors.

Logs are used by builders and contractors for structural parts, flooring, roofing, and a variety of interior and external applications. The increased emphasis on environmentally friendly and sustainable construction practices has increased demand for logs derived from properly managed forests.

As a result, growth in the building and construction sector is increasing the market value of logs. Logs' flexibility and durability make them suited for both classic and contemporary architectural styles. This is increasing the worldwide requirement for logs.

The worldwide market for logs with desirable features like particular grain patterns, color, and endurance is growing. Furniture manufacturers work hard to match buyer tastes and trends in design. This, in consequence, is driving the growth of the logs industry.

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Market Snapshot:

Key Takeaways from the Market Report

• According to the most recent logs market statistics, the softwood type sector held a commanding 55.0% share in 2022.
• During the projection period, the segment is expected to develop at a CAGR of 4.3%.
• In 2022, Europe held a 25.5% market share.
• In 2022, the Middle East and Africa combined for less than 10% of the market.
• In 2022, the Asia Pacific region will hold about 39.3% of the market.
  

Logs Market: Prominent Drivers and Trends

• Woodworking as a pastime and DIY endeavor has grown in popularity. Logs are frequently required by enthusiasts and hobbyists to make their furniture, decorative products, and carpentry projects. This development in DIY culture is supporting the growth of the logs market.
• Softwood trees often develop at a faster rate than hardwood trees. They also have greater yields, which means that more useful timber may be extracted from a single tree. Softwood is now more instantly accessible and financially feasible for large-scale manufacturing as a result of these considerations.
• Development in the biological science and work market within historical levels was caused by increases in residential construction activity, increased demand for cruise ships, inflated consumption for tissue and paper products, and financial procedures in emerging countries
  

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Logs Market: Regional Analysis

• The increase in expenditure on building ventures, such as residential structures, business complexes, and transportation networks, is propelling Asia Pacific market dynamics.
• Europe's business is expected to confront many obstacles. However, sustainable forest management practices, the advancement in wood products, and the establishment of novel markets can help reduce future declines and guarantee the region's logs business's long-term survival.
• Brazil is a major log market in Latin America. The increase in log exports is increasing the market figures in the region. Brazilian logs are in demand from a variety of industries, including building, furniture making, and paper manufacturing.
  

Competitive Landscape

Transparency Market Research has profiled the following players in its global Logs market report:

• Weyerhaeuser Company
• Georgia-Pacific
• West Fraser
• Interfor Corporation
• Canfor Corporation
• Stora Enso
• Arauco,
• UPM-Kymmene Corporation
• PotlatchDeltic Corporation
• Rayonier Inc.
• Boise Cascade Company
• Louisiana-Pacific Corporation.

The logs market research profiles each of these players based on characteristics such as company summary, economic overview, the company approaches, range of products, business sectors, and recent advancements. To grow their logging market share, key firms are working on technological breakthroughs, business development through M&A, financial restructuring and investments, and capacity expansion.

• Pfeifer stated intentions for funding in the digitalization of the log yard, workplace value, and project infrastructures in January 2023.
• Enviro-Log Company, LLC, an influential eco-friendly consumer goods and recycling company, opened its latest recycling and production plant in Glendale, Arizona, in July 2022

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Logs Market: Key Segments

Type

• Hardwood
  • Oak
  • Maple
  • Walnut
  • Cherry
  • Ash
  • Mahogany
  • Others
• Softwood
  • Fir
  • Cedar
  • Pine
  • Redwood
  • Others

Application

• Building & Construction
• Furniture
• Flooring
• Packaging
• Others
  

End-use

• Residential
• Commercial

Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
  

About Transparency Market Research

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