PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1373596
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1373596
Wood Bio-Products Market Assessment, By Product Type, By Application, By End-use Industry, By Region, Opportunities, and Forecast, 2016-2030F
Global Wood Bio-Products Market size was valued at USD 301.81 billion in 2022, which is expected to grow to USD 546.34 billion in 2030 with a CAGR of 7.7% during the forecast period between 2023 and 2030. The increasing investments in building & construction projects at the global level and the rising shift of countries from fossil fuel to biofuel are boosting the demand for wood-bio products to ensure superior sustainability, which, in turn, is spurring the market growth.
The increasing funding for airport projects and the entry of international players in emerging markets with new manufacturing bases are the prominent aspects driving the growth of building & construction projects. Furthermore, the increasing carbon emission norms and rising investments in biofuel manufacturing facilities, are the prime aspects leading to the transition from fossil fuels to biofuel. Thus, the bolstering building & construction sector and the increasing demand for biofuel are spurring the demand for wood bio-products to reduce carbon emissions, this, in turn, is fostering the market growth.
Booming Building & Construction Activities at the Global Level is Amplifying Market Growth
Wood bio-products such as bioplastics and construction materials are ideal for construction & construction applications , including roofing and windows to ensure lighter weight, thereby leading to cost-effective transportation. The increasing investment in affordable housing projects, coupled with the rise in healthcare infrastructure projects are the key trends driving the growth of the building & construction industry.
For instance, according to the Construction Products Association, in 2022, global construction activities registered a growth of 2.0% as compared to 2021. Moreover, global private housing construction registered a year-on-year growth rate of 3.0% in 2022. Therefore, the increase in building & construction activities is fostering the demand for wood bio-products such as bioplastic and construction materials to minimize landfill waste, which, in turn, is amplifying the market growth.
The Increasing Production Activities Related to Automotive Vehicles is Spurring the Demand for Biofuel
The prime benefits of biofuel manufactured from wood include superior energy efficiency, high-quality engine performance, and favorable economic impact. As a result, wood biofuel is deployed in automotive vehicles such as passenger vehicles, trucks, and buses. The growth of the automobile industry is attributed to prime variables such as the increasing development of passenger car manufacturing facilities and the rising adoption of heavy-duty trucks.
For instance, according to the recent statistics published by the Organisation Internationale des Constructeurs d'Automobiles (OICA), in 2021, the global production of automobiles was 80,205,102 units, and in 2022, it was 85,016,728 units, an increase of 6.0%. Henceforth, the rise in the production activities for the automotive is accelerating the demand for biofuel to minimize greenhouse gas emissions, thereby supplementing the market growth.
Rise in the Adoption of Wood Bio-Products in the Asia-Pacific is Augments Market Growth
The increasing carbon emission norms, the introduction of a sustainable product range composed of waste wood, and others in the Asia Pacific are boosting the adoption of fossil fuel alternative products in end-use industries such as aerospace and building & construction. The above sectors are the major end-use industries for wood bio-products, bolstering market growth.
For instance, in 2023, various construction projects commenced in the Asia-Pacific, including Kaithal Medical College, India (project completion year 2026), Sham Shui Po 30-Classroom Primary School, China (project completion year 2026), and others. Thus, the rise in construction projects in the Asia Pacific region fosters the demand for wood bio-products to minimize the impact of carbon footprint. As a result, the increase in the demand for wood bio-products in the Asia Pacific region is accelerating market growth.
Future Outlook Scenario
Key Players Landscape and Outlook
Table of Contents
1. Research Methodology
2. Project Scope & Definitions
3. Executive Summary
4. Voice of Customer
- 4.1. Market Awareness and Product Information
- 4.2. Brand Awareness and Loyalty
- 4.3. Factors Considered in Purchase Decision
- 4.3.1. Brand Name
- 4.3.2. Quality
- 4.3.3. Quantity
- 4.3.4. Price
5. Wood Bio-Products Market Outlook, 2016-2030F
6. Wood Bio-Products Market Outlook, By Region, 2016-2030F
7. Supply Side Analysis
8. Market Mapping, 2022
9. Macro Environment and Industry Structure
10. Market Dynamics
11. Key Players Landscape
12. Pricing Analysis
13. Case Studies
14. Key Players Outlook
15. Strategic Recommendations
16. About Us & Disclaimer
List of Tables
- Table 1. Pricing Analysis of Products from Key Players
- Table 2. Competition Matrix of Top 5 Market Leaders
- Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
- Table 4. About Us - Regions and Countries Where We Have Executed Client Projects
List of Figures
- Figure 1. Global Wood Bio-Products Market, By Value, in USD Billion, 2016-2030F
- Figure 2. Global Wood Bio-Products Market, By Volume, in Tons, 2016-2030F
- Figure 3. Global Wood Bio-Products Market Share, By Product Type, in USD Billion, 2016-2030F
- Figure 4. Global Wood Bio-Products Market Share, By Application, in USD Billion, 2016-2030F
- Figure 5. Global Wood Bio-Products Market Share, By End-use Industry, in USD Billion, 2016-2030F
