The latest report by IMARC Group, titled “US Secondary Wood Products Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the US secondary wood products market size reached US$ 278.8 Billion in 2022. Secondary wood products are manufactured using primary wood products, such as lumber, plywood, hardboard, timber, and pulp. They involve clothespins, tool handles, golf tees, toothpicks, yardsticks, tongue depressors, popsicle sticks, pepper mills, rolling pins, kitchen utensils, drumsticks, furniture, and bird feeders. They are widely utilized in offices, shopping malls, hotels, kitchens, bedrooms, and living rooms for ambient decor.
US Secondary Wood Products Market Trends:
Substantial growth in the construction industry, along with increasing remodeling and renovation activities in residential and commercial complexes for premium-quality and aesthetically appealing furniture, represents one of the key factors contributing to the market growth in the US. Apart from this, leading manufacturers operating in the country are introducing personalized, do-it-yourself (DIY) and multi-functional products to enhance the experience of the user, which is creating a positive outlook for the market. Besides this, the easy availability of these products through online channels on account of hectic schedules is offering lucrative opportunities to industry investors. Furthermore, due to rising environmental concerns, several initiatives are being undertaken by the US Government to promote the usage of eco-friendly materials and minimize carbon footprints, which is propelling the market growth. It can also be attributed to the growing awareness about the benefits of using wood-based products. Besides this, the expanding population and the rising demand for household wood products are other factors creating a favorable market outlook in the country. Looking forward, IMARC Group expects the market to reach US$ 315.8 Billion by 2028, exhibiting a CAGR of 1.9% during the forecast period (2023-2028).
- Based on type, the market has been bifurcated into wood furniture (office furniture, household and institution, wooden kitchen, cabinets and counterparts, and others); engineered wood products (plywood, OSB, particle board and others); secondary paper products (paper products and paper containers); and others. At present, wood furniture holds the largest market share as it is cost-effective, durable, requires less maintenance, and provides resistance against wear and tear.
- The competitive landscape of the market has been examined, along with the profiles of key players.
|Base Year of the Analysis
Scope of the Report
Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Wood Furniture: Office Furniture, Household & Institution, Wooden Kitchen, Cabinets and Countertops, Others
- Engineered Wood Products: Plywood, OSB, Particle Board, Others
- Secondary Paper Products: Paper Products, Paperboard Containers
||Ashley Furniture Industries, Steelcase, HNI Corporation, Herman Miller, Weyerhaeuser Company and Universal Forest Products
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