The production of engineered wood in Italy was 3.33 million cubic meters in 2023. Over the past few years, the industry has shown variable performance. Notable growth was observed from 2017 to 2019, peaking in 2018 with a year-on-year increase of 21.34%. However, 2020 saw a significant decline of 13.44% likely due to global disruptions. Recovery was evident in 2021 and 2022 with substantial growth rates of 9.2% and 5.67%, respectively. The annual growth rate from 2018 to 2023 averages to a CAGR of 1.36%. Forecasts predict a steady growth trajectory towards 2028, with an expected average annual CAGR of 0.89%.
Future trends to watch for:
- Impact of sustainable practices and regulations on production processes.
- Technological advancements in engineered wood manufacturing.
- Potential market fluctuations due to global economic conditions.
