In 2023, the wood products turnover in Spain was valued at EUR 4.64 billion. This series has seen significant variations. From 2013 to 2019, turnover experienced an overall increase, peaking at EUR 6.79 billion in 2019. However, a downward trend began in 2020, exacerbated by a sharp 10.3% year-on-year decrease in both 2022 and 2023. The recent five-year CAGR indicates a steep decline of -6.8%.
Looking forward, the forecast predicts a continued decline in the wood products turnover, with an anticipated value of EUR 2.02 billion by 2028. The forecasted 5-year CAGR is -13.29% with an overall reduction of -50.98% during this period.
Future trends to watch for include:
- Macroeconomic factors that may affect construction and furniture sectors.
- The influence of sustainability initiatives on market demand and production.
- Potential shifts in trade policies that could impact imports and exports.
- Technological advancements and automation in wood product manufacturing.
