In 2023, China dominated global R&D expenditure in the manufacture of wood-related products, holding a significant share, with notable growth of 10.2% year-on-year. The United States remained substantial, albeit with a slight decline of 1.31%. Rapid growth was observed in Estonia and Portugal, with increases of over 50% and 8.45%, respectively. Meanwhile, several countries like Mexico and Taiwan experienced decreases in their R&D spending.
Future trends to watch include:
- Continued dominance and expansion of China in this sector owing to strong year-on-year growth.
- Potential recovery and growth in countries with current negative trends, such as Mexico and Taiwan.
- Increasing investment in tech adoption and sustainable practices, potentially driving R&D growth globally.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Wood and of Products of Wood and Cork (Except Furniture; Manufacture of Articles of Straw and Plaiting Materials) Share by Country (Million US Dollars PPP)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 74.76 | 2023 | +6.26% | +10.2% | View data |
| 2 | 2 United States | 9.15 | 2023 | -5% | -1.31% | View data |
| 3 | 3 Canada | 4.01 | 2023 | +1.78% | +3.77% | View data |
| 4 | 4 Japan | 2.98 | 2023 | +2.52% | +2.85% | View data |
| 5 | 5 Italy | 2.56 | 2023 | +10.81% | +6.41% | View data |
| 6 | 6 Poland | 2.41 | 2023 | +12.42% | +6.26% | View data |
| 7 | 7 South Korea | 1.73 | 2023 | +7.75% | +9.47% | View data |
| 8 | 8 Portugal | 1.68 | 2023 | +2.54% | +8.45% | View data |
| 9 | 9 Germany | 1.23 | 2023 | +1.81% | +3.35% | View data |
| 10 | 10 Spain | 1.03 | 2023 | +6.66% | +5.46% | View data |
