The production value of the sawmilling and planing of wood industry in Ireland experienced significant fluctuations over the past decade. The highest growth was observed from 2013 to 2014, with nearly a 38% increase. However, the market faced a decline in subsequent years, notably between 2015 and 2016, with drops of about 7% and 8% respectively. Noteworthy recoveries appeared in 2017 and 2020, with increases of 28% and 31%. In recent years, the values have stabilized, with a slight upward trend of around 1.8% in 2023. The 5-year CAGR from 2018 to 2023 stood at approximately 1.85%. Future projections indicate steady growth at an average annual rate of 1.33%, expecting the industry to reach 344 million euros by 2028.
Future trends to watch for include:
- The adoption of advanced technology and sustainable practices, including eco-friendly materials and energy-efficient processes.
- Potential impacts of economic policies and global market conditions affecting trade and production costs.
- Increasing demand for wood products in construction and manufacturing sectors, driving overall industry growth.
