The wood products market entails of sales of wood products by numerous entities (organizations, sole traders and partnerships) that introduce the products derived from wood. This industry includes businesses that generate lumber, plywood, veneers, wood containers, wood flooring, wood trusses, introduced homes and prefabricated wooden buildings. Wood products introduction entails sawing, planning, shaping, laminating, and assembling of wood products into bolts or lumber.
According to the report analysis, ‘Wood Products Global Market Report 2020-30: Covid 19 Impact and Recovery’ states that Georgia-Pacific Corporation; Weyerhaeuser Company; West Fraser Timber Co Ltd; Andersen Corporation; Celulosa Arauco y Constitucion and many others are the great companies which presently operating in wood products global market for leading the highest market growth and dominating the great value of market share during the coming duration while delivering the better consumer satisfaction, decreasing the associated cost, employing the young work force, analysing the strategies and policies of government as well as corporates, accepting the strategies and policies of enlargements as well as profit making, establishing the several research and development programs, developing the applications, qualitative and quantitative measures and spreading the awareness connected to the applications and improvement of such.
Meanwhile, the outbreak of Coronavirus disease (COVID-19) acted as a massive curb on wood products manufacturing market in 2020 as supply chains were disordered due to trade restrictions and the consumption declined due to the lockdowns imposed by governments globally. The COVID 19 is an infectious disease with the flu-like symptoms including fever, cough, and exertion in breathing. COVID-19 was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally involving Western Europe, North America and Asia. The steps by national governments to hold the transmission have resulted in the halting of manufacturing activities and a decline in the economic activity with countries entering a state of lockdown and the outbreak is likely to continue to have the bad impact on businesses throughout 2020 and into 2021.However, it is predicted that the wood products manufacturing market will recover from shock across forecast period as it is a 'black swan' event and not connected to ongoing or fundamental weaknesses in the market or the international economy.
In addition, the Robots are swapping traditional hand sanding and wood finishing tools. Robot reliant on wood automation tool providers have established robots that carry out wood sanding, polishing and finishing specifically and quickly. They are improving the technologies for assembling a wooden window frame to routing designs in wood panels for a wide variety of materials and surfaces. For instance, the ABB's robot automation solutions were accepted in leading corporates such as IKEA, VELUX and Svedplan.
Although, the increasing requirement for supply chain transparency and stringent government regulations on the wood industry has led to the acceptance of tracking and tracing technologies. Several wood companies have accepted their own tracking systems to manage the transparency in their timber supply chain. The Electronic tracking is being accepted by wood corporates and government agencies over paper-based systems and technologies likewise the radio-frequency identification chips, barcodes and advanced traceability software are being utilized.
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Ankur Gupta, Head Marketing & Communications