Throughout the historical data from 2013 to 2023, South Korea's wood residues production has displayed significant variability. The early years, from 2013 through 2017, showed a notable decline, marked by a peak decrease in 2014 and 2017 with year-on-year drops of 65.11% and 45.58% respectively. After hitting a low in 2019, the production showed slight recoveries in 2020 and 2021, with year-on-year growths of 3.1% and 22.56%. The notable upturn occurred in 2023 with a substantial year-on-year increase of 192.82%, bringing the value up to 0.4773 million cubic meters.
From 2024, the forecast for the next five years predicts an optimistic trend for wood residues production, anticipating consistent increases. The forecasted 5-year CAGR is 20.44%, projecting the production value to reach 1.9944 million cubic meters by 2028, signifying a forecast growth rate of 153.47% over the period.
Future trends to watch for include:
- Advances in sustainable forestry practices impacting production levels.
- Government policies and incentives aimed at increasing or regulating wood residue production.
- Technological developments in wood residue processing and utilization aiming to drive up productivity.
- Potential shifts in global wood residue demand due to environmental policies or industry requirements.
