The production of wood chips, wood particles, and wood residues in South Korea experienced significant fluctuations over the period from 2013 to 2023, with a notable drop in production from 2013 to 2014 (-57.41%) and a substantial increase in 2017 (147.12%). Since 2018, production generally trended upwards, although 2020 and 2021 saw slight declines. By 2023, the production stood at 2.117 Million Cubic Meters, reflecting a 21.18% year-on-year increase. The last five years have displayed an overall downward trend with a CAGR of -4.74%, suggesting some volatility and adjustments in the market.
Looking ahead, forecasts project a robust increase in production, with an expected growth rate of 57.28% over the next five years and a CAGR of 9.48%. This indicates a strong rebound and a potential stabilization or growth phase for the South Korean wood industry. Key trends to watch for include advancements in production technology, regulatory changes, and shifts in domestic and international market demand that could further impact production volumes.
