The sawmilling and planing of wood industry in the UK saw turnover increase from 1.45 billion euros in 2013 to 1.87 billion euros in 2023. Over this period, year-on-year growth rates exhibited significant variability. Initial robust growth from 2013 to 2015 was followed by a notable decline in 2016. Post-2016, the industry experienced modest but consistent growth, with annual increases stabilizing around 1% in the years leading up to 2023.
Key variances indicate a 0.95% year-on-year increase in turnover for 2023. The five-year CAGR leading up to 2023 was 0.96%, showing steady, albeit slow, growth. The forecast suggests a CAGR of 0.69% from 2024 to 2028, predicting a continued, albeit modest, increase in turnover reaching 1.95 billion euros by 2028.
Future trends to watch for:
- Continued incremental growth in turnover, driven by ongoing demand in construction and furniture sectors.
- Potential impacts of economic policies and environmental regulations on the industry.
- Technological advancements and innovations in wood processing and sustainability practices.
