Major companies in the forestry and logging market include Forestry Corporation; Hancock Victorian Plantations; Weyerhaeuser; Scottish Woodlands Ltd and Tilhill Forestry Ltd. The global forestry and logging market is expected to grow from $535.
New York, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Forestry And Logging Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018821/?utm_source=GNW
96 billion in 2020 to $559.47 billion in 2021 at a compound annual growth rate (CAGR) of 4.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $726.51 billion in 2025 at a CAGR of 7%.
The forestry and logging market consists of sales of forestry products and logs by entities (organizations, sole traders and partnerships) that produce or harvest forestry products and logs and are involved in growing, cutting and transporting timber, operations of the timber tract, growing trees for reforestation and collecting forest products such as gums, barks and fibers. The forestry and logging market is segmented into logging; timber tract operations; and forest nurseries and gathering of forest products.
Asia Pacific was the largest region in the global forestry and logging market, accounting for 38% of the market in 2020. North America was the second largest region accounting for 22% of the global forestry and logging market. Middle East was the smallest region in the global forestry and logging market.
Advanced techniques in forest logging methods has improved safety, fiber utilization, environmental protection and productivity with minimum damage to residual trees. The different improved methods of logging are harvester/forwarder systems, cable harvesting systems and helicopters logging. Harvester or forwarder type of logging is mostly common in northern and central Europe and the use is expected to increase in the future due to their economic, ergonomic and ecological advantages over motor/manual (saw/skidding) harvesting. Cable harvesting are used in mountainous regions whereas helicopter logging is popular in environmental constraints and remote areas. According to a recent study, improved logging operations result in a 30% increase in wood volume and damage to residual trees can be reduced to 20%. For instance, Markit! Forestry Management has employed helicopter logging for some portions of the Dry Lake Hills area as transport of logs, lumbers and felled trees were difficult due to the steep slope of the land.
Stringent regulations have always been a major challenge to the forestry and logging products market. Several countries across the globe have imposed total or partial logging bans in natural forests as a response to natural disasters which are believed to have been caused by deforestation. Banning or restricting timber products is thus viewed as a corrective measure to promote forest conservation and protection, and to ensure broader forest benefits for future generations. For instance, in 2017, the government of China announced its decision to impose a total ban on commercial logging in natural forests. In 2013, the EU Timber Regulation came into force, which aims to reduce illegal logging by ensuring that no illegal timber or timber products can be sold in the EU, thus negatively impacting the market.
Wood used as a building material is increasing due to numerous advantages of wood buildings over concrete buildings, thus driving the market for forestry and logging producers. Presently, the building industry is causing 25% of the greenhouse gas emissions globally and therefore the concept of green building construction has evolved which is expected to reduce CO2 emissions and store carbon. Also, constructing buildings with wood will produce very less waste and can be constructed quickly when compared to a concrete building. For instance, In 2017, The University of British Columbia inaugurated an 18-storey wooden hybrid building which was built four months faster than similar non-wooden buildings, reducing construction time by almost 20%. Wooden building construction has increased the demand for wood components such as cross-laminated timber (CLT) and laminated veneer lumber (LVL). According to Karl-Henrik Sundström, CEO of Stora Enso, indicated, timber is becoming the building material of the future and therefore to meet the increasing demand from construction industries, the company built its third production unit of manufacturing CLT in Sweden in 2019. Countries such as the US, Japan and China are also witnessing an increase in wood construction due to its economic and environmental benefits.
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