The turnover of wood products in Norway is expected to increase gradually from 2.24 billion Euros in 2024 to 2.3 billion Euros by 2028. In 2023, the actual turnover stood at 2.22 billion Euros. The year-on-year percentage increase for each upcoming year remains relatively consistent, reflecting a steady market growth. Specifically, the expected annual growth rates are: 2025 at 0.45%, 2026 at 0.89%, 2027 at 0.44%, and 2028 at 0.88%. The compound annual growth rate (CAGR) over the five-year period (2024-2028) indicates an average annual increase of approximately 0.67%.
Future trends to watch for:
- Potential impacts of sustainability initiatives on wood product demand and pricing.- Technological advancements in wood processing and production efficiency.- Market shifts due to changes in construction industry demands and renewable resource utilization.- Influence of global economic conditions on export and import activities related to wood products.
