Softwood Lumber Market: Global Opportunity Analysis and Industry Forecast 2023-2030 Market

Softwood Lumber Market Analysis:

Softwood is attributed to the kind of tree from which wood can be acquired. It refers to the timber acquired from trees such as cedar, pine or spruce. Trees of hardwood, such as maple, cherry, and oak, are rarely used to make lumber. These are generally used to make furniture, floorings and others. The softwood acquired from tress is then further processed and the existing attributes of the softwood are utilized for application in various areas. The properties of the softwood acquired from the trees vary from tree to tree. Softwood lumber acquired from fir is weaker while softwood acquired from cedar has the most durability and high water resistance property. In addition, softwood acquired from pine trees is majorly used in residential settings as it is non-resistant toward insects. 

COVID-19 scenario:

• Governments across countries are enforcing lockdown due to the outbreak and spread of the novel coronavirus. 
• The lockdown has severely affected various industries. Industries have been shut down, which in turn, has led to disruption of the manufacturing as well as the logistic and supply chain of industries. 
• The construction industry has also been facing the brunt of the virus, owing to the lack of manpower. This has resulted in a negative growth in the softwood lumber market. Post lockdown, as industries resume their operations, the softwood lumber market is expected to grow at a moderate pace. 

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis:

Softwood lumber is majorly used as a construction medium in the construction of buildings, commercial, and residential areas. The softwood lumber market is dependent on the construction industry. Increase in construction activities and the growth of the construction industry are expected to impact the softwood lumber market in a positive manner. In addition, softwood is extensively used to make furniture and utilized in the process of wood carving. Softwood trees have very low environmental impact as they grow back way faster than hardwood tress. This ensures the availability of softwood in abundance, which in turn, increases the usages of softwood lumber in various applications. The re-growth rate of softwood trees makes them bypass the strict governmental rules & regulations regarding the cutting of trees. For instance, wood obtained from cedar trees does not crack easily and finds application in various construction activities and in the manufacturing sector. This contributes to the growth of the softwood lumber market.

However, some kinds of softwood lumber are not resistant toward insects. This restricts the usage of some kind of softwood lumber. In addition, lumber obtained from fir trees is considered to be relatively weaker than others. This reflects the low demand for lumber obtained from fir trees, resulting in relatively lower growth of the softwood lumber market. Substitutes of softwood lumber have been devised, owing to the advanced technology. This factor is expected to hit the softwood lumber market and result in a negative market growth. 

Regional analysis:

Region-wise, Europe and the Middle East have witnessed considerable growth due to the expansion and development of the construction industry in these regions. Additionally, Asia-Pacific is expected to witness a significant increase in demand for softwood lumber, owing to rapidly increasing population, industrialization, and urbanization. Furthermore, North American has softwood trees available in abundance, which are the main source of softwood lumber. This is expected to attract potential investors who wish to establish themselves and expand their business. Therefore, these factors are expected to increase the market share of the softwood lumber market in the region. 

Key benefits of the report:

• This study presents the analytical depiction of the softwood lumber along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the softwood lumber market share.
• The current market is quantitatively analyzed to highlight the softwood lumber market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the softwood lumber market research report:

• Which are the leading market players active in the market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?

 Softwood Lumber Market: Global Opportunity Analysis and Industry Forecast 2020-2027 Report Highlights