The Canada secondary wood products market reached a value of US$ 27.5 Billion in 2018. Secondary wood products, also known as value-added wood products, are manufactured by the processing of primary wood products such as lumber, timber, pulp, etc. Secondary wood products include products such as wooden kitchen, cabinets and countertops, engineered wood products, wooden pallets, and secondary paper products.
Secondary wood products market is a growing contributor to economic and employment growth in Canada. Recent forest product innovations in the country have led to improved industrial competitiveness and environmental performance in a wide range of industries, from natural resources, manufacturing and agriculture, to chemicals, healthcare, and cosmetics. According to the Forest Products Association of Canada (FPAC), Canada is a leader in forest sustainability and accounts for the majority of the share of all certified forests in the world, leading to a growth in the secondary wood products market. Strengthening and facilitating the secondary wood products manufacturing is now being perceived as the next step to create a more sustainable economy in Canada. Moreover, investments made by the country in Forest Industry Transformation program (IFIT) to support Canada’s forest sector have increased the growth of secondary wood products market in the region. The country also epresents one of the largest exporters of wood products in the world, thereby rising its economy with the sale of various secondary wood products across the globe. Catalyzed by these factors, IMARC Group expects the secondary wood products market in Canada to reach a value of US$ 30.9 Billion by 2024, exhibiting a CAGR of 1.83% during 2019-2024.
Market Breakup by Type
Amongst these, wood furniture represents the leading segment, accounting for the majority of the market share.
The report has also examined the competitive landscape of Canada secondary wood products market. Some of the major players include:
Key Questions Answered in This Report:
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