South Korea's sawnwood production showed an overall downward trend from 2013 to 2020, with the production volume declining from 2.343 million cubic meters in 2013 to 1.9 million cubic meters in 2020. The largest year-on-year drop occurred in 2020, with a decrease of 5.71%. However, stabilization began in 2021, followed by a modest increase of 3.72% in 2023, bringing the production to 2.0268 million cubic meters.
Forecasts for 2024 and beyond indicate a steady recovery, with a projected 5-year CAGR of 1.67% and an overall growth rate of 8.64% by 2028. Key drivers for this uptick could include increased domestic demand and supportive government policies.
Future trends to watch for:
- Government initiatives aimed at boosting forestry and sustainability
- Technological advancements in wood processing
- Changes in global supply chains affecting raw material availability
