Wood And Timber Products Market Trends
The global wood and timber products market size was estimated at USD 992.43 billion in 2024 and is projected to grow at a CAGR of 4.7% from 2025 to 2030.
One of the primary drivers of timber demand is the rapid expansion of urban areas worldwide. As populations grow, particularly in developing economies like China, India, and parts of Africa, the need for housing, commercial buildings, and infrastructure is surging.
Timber is a preferred construction material due to its durability, affordability, and sustainability compared to steel and concrete.
Innovations in engineered wood products, such as cross-laminated timber (CLT) and glulam, are also making wood a competitive option in high-rise buildings, further fueling demand.