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Global Timber Index Report Latest Index? How does the Mass timber construction market develop rapidly?

Views: 8     Author: Site Editor     Publish Time: 2023-10-23      Origin: Site


 Global Timber Index Report: China’s timber and wood products market is recovering steadily



The Global Timber Index (GTI) is based on a monthly survey of major timber companies in timber-producing and timber-consuming countries around the world. It can reflect the fluctuations of the global timber industry in a timely manner and is a "barometer" and "thermometer" of the operating conditions of the global timber industry.

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Data from the August 2023 Global Timber Index (GTI) show that the GTI China Index was 52.6%, a decrease of 0.4 percentage points from the previous month. The production volume and new orders of enterprises have increased from the previous month, but the number of export orders is still insufficient. . Overall, it shows that the overall production and operation situation of advantageous wood industry enterprises represented by the GTI-China Index is higher than that of the previous month. It can be seen that China's wood and wood products market is recovering steadily, but international market demand has not yet fully recovered, and companies have high demand for raw materials required for customized products. China's timber industry is expected to show a growth trend in the future.


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International trends: EU countries’ imports of wood products decline in the first half of 2023


In the first half of this year, EU countries imported a total of 838,900 tons of tropical and other wood and wooden furniture products, with a total value of US$173 million, a decrease of 18% and 29% respectively compared with the same period in 2022.

In terms of quantity, the total import volume of tropical wood and wooden furniture from EU countries was 410,000 tons, a decrease of 4% from the previous month. EU countries’ imports of tropical wood and wooden furniture totaled US$831 million, a decrease of 7% month-on-month. Although the import volume decreased, the volume was still huge, indicating that the EU’s demand for anti-corrosion wood and other tropical wood products continues to exist.


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Mass timber construction market expected to reach $1.5 billion by 2031


According to a report titled "Mass Timber Construction Market" released by Allied Market Research, the mass timber construction market will reach a value of US$857 million in 2021 and is expected to reach US$1.5 billion by 2031 from 2022 to 2031 compound value. The growth rate is 6%.


Mass timber, also known as engineered wood and engineered panels, etc. Mass timber construction uses parallel, vertical gluing or grip nails to provide the required strength and stability to the building structure. Large pieces of wood are preferred because they are cost-effective and environmentally friendly.

In addition, many European and American governments provide subsidies for green building materials to encourage builders to choose large-volume timber. Large-volume timber used in construction effectively provides better waterproof, fireproof, and earthquake-resistant properties. These factors promoted the development of mass timber construction.

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