In South Africa, the production of wood chips and wood particles saw a notable reduction from 2013 to 2014, with a significant year-on-year decrease of 15.54% in 2014. Production continued to decline until 2016, followed by a slight recovery in 2017 with a 4.77% increase. From 2018 onwards, the levels showed minor fluctuations with small negative or positive changes year on year. In 2023, the production stood at 1.8977 million cubic meters, marking a 1.16% increase compared to the previous year.
Over the last five years, the Compound Annual Growth Rate (CAGR) was generally modest, averaging around -0.42%. As we look forward from 2024 to 2028, the forecast indicates a gradual upward trend with a 5-year CAGR of 0.86%, culminating in a total growth rate of 4.35% over the period.
Future trends to watch for:
- Increasing demand for sustainable and renewable energy sources which could boost production levels.
- Technological advancements in wood chip and particle processing.
- Policy and regulatory changes promoting or hindering wood production industries.
- Market dynamics due to global economic conditions and local forestry management practices.
