The global softwood lumber market size is expected to gain momentum owing to the rising product demand in the construction and manufacturing industries during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled; “Softwood Lumber Market, 2022-2029. The availability of the product in long, rectangular forms such as posts, rails, and planks with additional benefits of high versatility, chemical resistance, cost-effective, fast growth, high strength, and water resistance properties are likely to surge the overall market demand. The product finds its usage in a variety of industrial applications such as construction, packaging, and manufacturing.
COVID-19 impacts:
Supply Chain Upheaval Positively Affecting Market Growth
The health crisis caused by the emergence of COVID-19 had caused inimitable impacts on companies in the softwood lumber market, unlike other industries. The pandemic had repercussions not only on the interaction between producers and consumers but also on the environment, consequently changing the supply chain. The health crisis arrested passengers’ mobility and limited air and sea freight capacity significantly, hence producing a positive impact on the environment.
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Segments:
Based upon the type, the softwood lumber market classifies into fir, cedar, pine, treated lumber, redwood, and others. Based on application, the market segregates into the construction industry, packaging industry, manufacturing industry, and others. Finally, by geography, the market divides into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa.
What does the Report Offer?
The market research report for softwood lumber offers integrated information on the key drivers, constraints, and opportunities driving industry growth. The research goes on to generate dominant insights from different market segmentations. Growth drivers, opportunities, challenges, restrictions, and the latest important developments are among them.
Drivers and Restraints:
Rapid Utilization in Construction and Manufacturing Industries to Increase the Demand
The increasing growth in the construction and manufacturing industries is likely to expand the overall softwood lumber market growth. The high utilization of the product in inner walls and roof structures in the construction industry is likely to propel the market demand. In the manufacturing industry, the product finds its usage in the doors, fixtures, fittings, furniture, and wooden carvings are likely to foster the market. However, the low durability of the product may restrict the market growth.
REGIONAL INSIGHTS:
High Product Demand in the Construction Industry to Expand the Growth in Asia Pacific
Asia Pacific is expected to witness the highest softwood lumber market growth due to the high product utilization in the construction industry.
North America is likely to have the second-largest product demand due to the higher acquisition of treated lumber in the packaging market. The tremendously high usage of the product in countries such as the U.S. and Canada is likely to increase the overall market demand.
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Competitive Landscape-
Softwood Lumber provides details by competitors. Few dominant competitions include company overview, company financials, revenue generated, market potential, partnerships, joint ventures, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, output launch, product width, and breadth.
Industry Developments:
- October 2021: Canfor Corporation declared their bold intentions of becoming a pioneer in making commitments towards sustainable forestry, a mightier focus on safety, health, wellness, inclusion, and diversity amongst their employees, thereby strengthening partnerships with indigenous communities.
List of Key Players Profiled in the Global Market for Softwood Lumber:
- Canfor Corporation
- West Fraser Timber Co. Ltd.
- Rayonier Advanced Materials
- Western Forest Products Inc.
- Weyerhaeuser Company
- Georgia-Pacific LLC
- Sierra Pacific Industries
- Interfor Corporation
- EACOM Timber Corporation
- McRae Lumber Company
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