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Industry revenue of veneer, plywood and engineered wood products in the U.S. 2011-2023

A decade after the global financial crisis, the U.S. veneer, plywood and engineered wood products market not only rebounded from its post-recession decline and but also registered a robust growth of more than 80 percent over the last few years, increasing from 14 billion U.S. Dollars in 2011 to 26 billion in 2018. In fact, the overall wood products manufacturing industry that comprises of more than 5,000 enterprises and employs more 400 thousand people also witnessed similar growth and surpassed the 100 billion U.S. dollars mark in 2016.

Over the years, the industry’s growth has been driven primarily by new constructions, both in the residential and non-residential segments. However, with the future posing some tough challenges for these sectors, industry growth is expected to be tepid, having been pegged at less than 10%.

Green building initiatives to drive sales

There is growing concern over the environmental impact of construction activities in the U.S. resulting in strict regulations and policies promoting the use of green building materials. This has resulted in increased spending on green construction and growing popularity of products such engineered wood, which are expected to be in high demand over the medium to long term, thereby driving industry revenues.

Industry revenue of veneer, plywood and engineered wood products in the U.S. from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

The industry classification is based on the Naics 2017 - system in the U.S.. The industry “veneer, plywood, and engineered wood product manufacturing“ has the code “3212“.

Details on the methodology can be found here.

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