Future Market Insights
The term ‘Softwood’ refers to the species of trees from which the wood can be reaped. Softwood lumber is usually a timber obtained from trees such as pine, cedar or spruce. The softwood timber is processed and the properties of the wood are optimized to be utilized in various applications. Moreover, the softwood obtained from various trees differ in their properties. Softwood lumber obtained from Cedar tree is one of the most durable owing to its unique cell structure and high resistance to water. Moreover, the softwood lumber obtained from fir tree is relatively weaker and is not considered suitable for utilization in general woodworking processes. Softwood lumber obtained from Pine tree is one of the most utilized softwood lumber famous for its applications in indoor applications because of its property of being non-resistant to insects. The other two commonly used Softwood lumber are Redwood and Treated lumber. Treated Softwood lumber is obtained when wood is made to undergo an intensive chemical treatment to prevent chemical decay. The lumber utilized for this purpose may originate from any of the softwoods. Furthermore, softwood lumber is utilized for various purposes including building construction, wood working, furniture making and fiber boards.
Softwood Lumber Market: Market Dynamics
Softwood Lumber market is heavily reliant on construction industry. As Softwood lumber is readily used as a building material in many constructional and interior designing projects, the softwood lumber market can be seen to have positive prospects for growth over the assessment period. Moreover, Softwood lumber is also used by many wood making professionals in furniture making and wood carving. This further increases the demand of softwood lumber thus promoting the expected stimulated growth of softwood lumber market in the coming years. Also, the use of softwood lumber is considered as environmental friendly as the softwood trees grow very fast as compared to hardwood trees. This increases the application of softwood timber in many industries as it can bypass the stringent government rules which would promote further augmentation of Softwood lumber market. Moreover, the Softwood lumber obtained from cedar trees does not crack easily which make it suitable for utilization in manufacturing of storage closets. Furthermore, softwood obtained from various other trees is also used for various applications including paneling, flooring, window frames and furniture making. This could be the prime reason for the increase in demand of softwood lumber in the coming years which would drive the growth of softwood lumber market.
Softwood lumber harvested from fir tree is considered to be weak for utilization in general woodworking processes. Moreover, various other types of Softwood lumber materials are not resilient to insects and decay. This limits their application in few areas thus restricting the growth of softwood lumber market over the assessment period. Furthermore, with advancement in construction technology many other alternatives have been developed which are been used in place of softwood lumber for numerous interior designing projects. This decreases the demand of softwood lumber thus hampering the growth of softwood lumber market.
Softwood Lumber Market: Market Segmentation
On the basis of Type, global Softwood lumber market can be segmented into:
On the basis of End use industries, global Softwood lumber market can be segmented into:
Softwood Lumber Market: Regional Outlook
Softwood lumber market is heavily reliant on the construction industry. The Construction industry is expected to have a significant growth in Eastern European and Middle East regions. Owing to this the demand of softwood lumber is expected to increase over the coming years. This will certainly boost the expected growth of softwood lumber market in the coming years. North American region is enriched with softwood trees which are the main source of softwood lumber. Due to this many new market participants are expected to invest in the North American region to strengthen their foothold and expand their business. This could act as a prime reason for the expected growth of Softwood lumber market in North America. Moreover, Asia Pacific region is witnessing rapid urbanization, owing to this woodworking and interior designing industry are expected to grow. This would further support the augmentation of softwood lumber market in Asia Pacific Region.
Softwood Lumber Market: Key Participants
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