With the impact of high global inflation, the demand for forest products in various countries is also slowing down, and the construction industry in the United States has also changed a lot under the influence of the economy.
However, according to the analysis of the growing demand for wood in various industries around the world in recent years, the FAO said that wood consumption is expected to reach 3.1 billion cubic meters by 2030.
It is worth noting that recent research also shows that by 2026, the North American wood products market will reach 243.9 billion US dollars. The average annual growth rate from 2022 to 2026 is 6.75%. The slowdown in demand is a fact, but the demand for wooden office furniture in the North American market has also increased in recent years, especially in terms of repairing and rebuilding houses, which is already a kind of living expenses.
Although the current growth trend will also be affected by the fluctuation of wood prices and the increase in the supply of wood substitutes, there is also investment in construction and wood products in North America. In the long run, the scale of North America in wood products will indeed increase. As for whether it can achieve an annual growth rate of 6.75%, it depends on the development of the economic environment.