The 2023 figures for global R&D expenditure in the manufacture of wood and related products show the United States as the leading country, despite a slight year-on-year decline of 2.87%. Canada observed a 2.76% increase, whereas Japan maintained moderate growth at 0.85%. Italy and South Korea experienced significant growth, with increases of 4.37% and 6.9% respectively. Estonia witnessed a substantial 49.78% increase, while Taiwan saw the largest decrease at 38.82%. The five-year CAGR highlights overall modest growth in R&D investment across most analyzed countries.
Future trends to watch include the potential impact of sustainability and environmental policies, which could drive further R&D investments. Technological advancement in wood product manufacturing may also lead to increased expenditure as countries aim to boost productivity and eco-efficiency. The growing importance of bio-based products and circular economy principles might spur innovation and research in this sector 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 = 2015)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 33.27 | 2023 | -7.06% | -2.87% | View data |
| 2 | 2 Canada | 19.91 | 2023 | +0.68% | +2.76% | View data |
| 3 | 3 Japan | 15.22 | 2023 | +1.27% | +0.85% | View data |
| 4 | 4 Italy | 11.66 | 2023 | +9.09% | +4.37% | View data |
| 5 | 5 South Korea | 8.18 | 2023 | +5.42% | +6.9% | View data |
| 6 | 6 Spain | 4.3 | 2023 | -0.17% | +1.01% | View data |
| 7 | 7 Norway | 3.62 | 2023 | +5.53% | +5.68% | View data |
| 8 | 8 United Kingdom | 3.49 | 2023 | +2.54% | +3.02% | View data |
| 9 | 9 Slovakia | 1.99 | 2021 | View data | ||
| 10 | 10 Finland | 1.67 | 2023 | -0.56% | -1.2% | View data |
