Overview and Scope
Finished wood products refers to products made from a tough fibrous material that, in essence, is xylem and makes up the majority of a tree or shrub's stems, branches, and roots behind the bark. These include wood products such as wooden windows and doors, cabinets, kitchenware, wooden mobile homes, and other products.
Sizing and Forecast
The finished wood products market size has grown strongly in recent years. It will grow from $314.75 billion in 2023 to $338.72 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to consumer preferences for natural materials, furniture industry growth, customization and craftsmanship, interior design preferences, globalization of supply chains, environmental certifications.
The finished wood products market size is expected to see strong growth in the next few years. It will grow to $449.38 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to rise of mass timber construction, rise of eco-friendly building materials, health and wellness considerations, wood products in outdoor living spaces, energy-efficient wood processing. Major trends in the forecast period include innovative wood finishes, digital woodworking technologies, customized woodwork and craftsmanship, wooden flooring innovations, collaborations with designers and architects, r&d investments in timber technology.
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Segmentation & Regional Insights
The finished wood products market covered in this report is segmented –
1) By Type: Millwork, Prefabricated Home, Wood Pallets & Skids, Other Finished Wood Products
2) By Distribution Channel: Offline, Online
3) By Application: Household, Commercial
Subsegments Covered: Wood Window And Door, Cut Stock, Resawing Lumber, And Planning, Other Millwork (including Flooring)
Asia-Pacific was the largest region in the finished wood products market in 2023. Western Europe was the second largest in the global finished wood products market. The regions covered in the finished wood products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The finished wood products manufacturing market is expected to benefit from the steady economic growth forecasted for many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2021 and 3.4% in 2021. Recovering commodity prices, after a decline in the historic period is further expected to be a significant factor driving economic growth. The US economy is expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Greater economic growth is likely to drive public and private investments, joint ventures, and foreign direct investments in the end-user markets, thereby driving the market during the forecast period.
Key Industry Players
Major companies operating in the finished wood products market report are Apple Inc., Alphabet Inc., Comcast Corporation, Amazon.com Inc., Meta Platforms Inc., Sony Corp., The Walt Disney Company, Tencent Holdings Ltd., Viacom Inc., CBS Corporation, Financière de l'Odet SA, Live Nation Entertainment, Spotify Company, Universal Music Group, Vivendi SA, Downtown Music Holdings LLC, Naspers Ltd., Warner Music Group, FUJI MEDIA HOLDINGS INC., Merlin Limited, BMG Rights Management GmbH, Kobalt Music Group, Orchard Enterprises NY Inc., Hipgnosis Songs Fund Limited, Reservoir Media Management Inc., Ingrooves Music Group, Round Hill Music Royalty Fund Ltd., EMPIRE Distribution, Records and Publishing Inc., United Masters lnc., Symphonic Distribution LLC, ONErpm, Amuse.io AB, Stem Disintermedia Inc., TuneCore Inc., DistroKid LLC
The finished wood products market report table of contents includes:
1. Executive Summary
2. Finished Wood Products Market Characteristics
3. Finished Wood Products Product/Service Analysis -Product/Service Examples
4. Finished Wood Products Market Trends And Strategies
5. Finished Wood Products Market - Macro Economic Scenario
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68. Global Finished Wood Products Market Competitive Benchmarking
69. Global Finished Wood Products Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Finished Wood Products Market
71. Finished Wood Products Market Future Outlook and Potential Analysis
72. Appendix
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