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Global Forestry and Logging Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report - Segmented By Type (Logging, Timber Tract Operations, Forest Nurseries and Gathering of Forest Products), Application (Construction, Industrial Goods, Others), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) - Industry Analysis From 2023 to 2028

Published: March, 2023
ID: 11918
Pages: 175
Formats: report pdf report excel report power bi report ppt

Global Forestry and Logging Market (2023 to 2028)

The global forestry and logging market is expected to be valued at USD 322.25 billion in 2023 and is expected to reach a valuation of USD 437.39 billion by 2028, growing at a CAGR of 6.3% over the period 2023 to 2028.

The forestry and logging market consists of the sale of logs and forest products by entities (organizations, individual traders, and associations) that produce or harvest logs and forest products and are involved in the cultivation, felling, and harvesting. Timber transport, forest area operations, growing trees for reforestation, and collecting forest products such as gums, bark, and fibers.  Forest and logging industry companies cultivate and harvest timber on a production cycle of 10 years or more.

Companies in the forestry and logging market are specialized in the different stages of the production cycle. Reforestation requires the production of seedlings in specialized nurseries. In the long term, wood production requires appropriate areas of land or natural forests. The ripening time of the wood depends on the species of tree, the climatic conditions of the region, and the destination of the wood. Logging (except on a very small scale) requires advanced machinery specific to the market. Companies in the market collect forest products such as gums, bark, balm needles, rhizomes, fibers, Spanish moss, ginseng, and truffles.

Global Forestry and Logging Market Drivers:

The growth of the forestry and logging market is primarily driven by growth in residential construction activity, increasing demand for cruise ships, rising demand for paper and tissue products, and economic growth in emerging markets. Increased construction of wooden buildings, adoption of automated forest management, increased use of biomass, and growing demand for wooden furniture are expected to drive the forestry and logging market. The timber used as a building material is increasing due to the many advantages of timber buildings over concrete buildings, which is boosting the market for forest and timber producers. Aerial seed bombardment is adopted for planting trees in a large area. Aerial reforestation is the process of dropping sharp containers of saplings from planes that can plant nearly a million trees every day. The falling cans are made of biodegradable materials and contain a seedling filled with soil and nutrients.

Advanced techniques in logging methods have improved safety, fiber utilization, environmental protection, and productivity with minimal damage to residual trees. The various improved logging methods are logging/carrier systems, cable logging systems, and helicopter logging. Harvester or forwarder-type felling is more common in northern and central Europe and its use is expected to increase in the future due to its economic, ergonomic, and ecological advantages over motorized/manual felling (saw/drag).

Global Forestry and Logging Market Restraints:

Strict regulations, alternative building materials, labor shortages, and the impact of COVID-19 are major factors that could hamper the growth of the forestry and logging market in the future. Strict regulations have always been a big challenge for the forestry and logging market. In response to natural disasters allegedly caused by deforestation, various countries around the world have imposed full or partial logging prohibitions on natural forests. Therefore, banning or restricting wood products is seen as a corrective measure aimed at promoting forest conservation and protection and securing broader forest benefits for future generations.

Impact of COVID-19 on the forestry and logging market:

The COVID-19 pandemic has often devastatingly affected all aspects of global societies and economies. This has created challenges for the forest sector to function, from long-term challenges for economic viability to the recovery of supply chains and working conditions. The pandemic has simultaneously highlighted the global need for forest products. From personal protective appliances, building materials, sanitary needs, and packaging to energy and a variety of other uses, wood and wood fibers are essential in our day-to-day lives. The global forestry and logging market is suffering from the COVID-19 pandemic due to construction delays, market access, and logistics issues related to transportation and border regulations. Labor shortages due to the impact of COVID-19 have also hampered the growth of the forestry and logging market. Research on COVID-19 provides current techniques and alternative methods to mitigate the impact of Coronavirus on forestry and logging market growth. Companies are reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures, including social distancing, remote working, and the shutdown of business activities which resulted in operational challenges.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 to 2028

Base Year

2022

Forecast Period

2023 to 2028

CAGR

6.3%

Segments Covered

By Type, Application and Region

Various Analyses Covered

Global, Regional and country Level Analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

West Fraser Timber Co Ltd, Canfor, Weyerhaeuser Company, Hancock Victorian Plantations, Forestry Corporation of NSW, Rayonier Inc., China Forestry Group Corporation, and Potlatch Deltic Corporation.

 

This research report on the global forestry and logging market has been segmented & sub-segmented into the following categories.

Global Forestry and Logging Market - By Type:

  • Logging
  • Timber Tract Operations
  • Forest Nurseries
  • Gathering of Forest Products

The logging segment was the largest segment in the global market and accounted for 89.5% of the total market in 2022. The logging segment will be the most rapidly growing segment in the global forestry and logging market, with a CAGR of 9.0 % in the future.

Global Forestry and Logging Market - By Application:

  • Construction
  • Industrial Goods
  • Others

The construction segment is the fastest-growing segment in the global forestry and logging market representing 43.3% of its overall market in 2022 and is the largest segment in the market, growing rapidly in the future with a CAGR of 10.3%.

Global Forestry and Logging Market – By Region:

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

In 2022, Asia-Pacific was the largest region in the worldwide forestry and logging market, accounting for 38% of the total. North America was the second-largest region, with 22% of the world's market. Europe is expected to have the highest CAGR in the near future. Rising exports and imports and growing demand for various plant production are likely to leverage the growth rate of the market. Latin America is expected to have growth opportunities in the coming years. The Middle East & Africa was the smallest region in the world’s forestry and logging market.

KEY MARKET PLAYERS:

The major key players in the global forestry and logging market include West Fraser Timber Co Ltd, Canfor, Weyerhaeuser Company, Hancock Victorian Plantations, Forestry Corporation of NSW, Rayonier Inc., China Forestry Group Corporation, And Potlatch Deltaic Corporation. West Fraser Timber Co Ltd is the world's largest timber producer with 8,460,000 cubic meters produced annually and is the leading company in the global forestry and logging market.

RECENT HAPPENINGS IN THE MARKET:

  • In 2021, West Fraser Timber Co Ltd completed the acquisition of Norbord Inc. for a whopping 4 billion USD and is looking forward to lowering carbon emissions in the forestry and logging industry.
  • In 2020, Rayonier Inc. entered into a definitive merger agreement with Pope Resources for 554 million USD to significantly expand and enhance their Pacific Northwest timberland and real estate portfolio.

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FAQ's

what is the current market size of the global forestry and logging market?

The global forestry and logging market is expected to be valued at USD 322.25 billion in 2023.

what is the expected growth value and CAGR of the forestry logging market?

The global forestry and logging market is expected to reach a valuation of USD 437.39 billion by 2028, growing at a CAGR of 6.3% over the period 2023 to 2028.

what is the percentage of global forestry logging market in North America?

North America was the second-largest region, with 22% of the world's market.

what challenges are faced by the forestry logging market?

Strict regulations have always been a big challenge for the forestry and logging market.

what are the key market players involved in the global forestry logging market?

West Fraser Timber Co Ltd, Canfor, Weyerhaeuser Company, Hancock Victorian Plantations, Forestry Corporation of NSW, Rayonier Inc., China Forestry Group Corporation, And Potlatch Deltaic Corporation.

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