The production of wood chips and wood particles in North America has seen a fluctuating trend over the past decade. Starting in 2013 at 74.188 million cubic meters, the volume increased gradually, peaking at 79.552 million cubic meters in 2016. However, a significant drop occurred in 2017 with a production of 63.817 million cubic meters, followed by a continuous decline. By 2023, production stood at 54.908 million cubic meters.
From 2022 to 2023, the sector experienced a decline of 7.86%. Analyzing the last five years, the sector saw an average annual decrease (CAGR) of 2.34%. Future projections indicate a continued downward trend, with a forecasted CAGR of -5.05% over the next five years and an overall 22.82% decline by 2028 to 40.039 million cubic meters.
Trends to watch for:
- Potential market shifts towards alternative materials and renewable energy sources.
- The impact of regulatory changes aimed at environmental conservation.
- Technological advancements in manufacturing and recycling processes.
