The Saudi Arabia Wood Market is experiencing significant growth due to rising demand in both commercial and residential building sectors. The construction industry's expansion and increasing use of wood in packaging and transportation applications further contribute to market growth. With a surge in infrastructure projects and growing awareness of sustainable practices, the wood market in Saudi Arabia presents lucrative opportunities for investors and manufacturers.
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Data Bridge Market Research analyses that the Saudi Arabia Wood value was USD 3,446.41 million in 2021 and is expected to reach the value of USD 4,101.80 million by the year 2029, at a CAGR of 2.2% during the forecast period of 2022 to 2029. The cultural and traditional usage of wood in Saudi Arabia drives its continuous demand in various applications, as it holds significant value and importance in local customs and heritage, making it an integral part of the country's wood market.
Key Findings of the Study
Innovations in wood products are expected to drive the market's growth rate
Innovations in wood products act as a significant driver in the Saudi Arabia wood market. Advancements in wood processing and treatment technologies have revolutionized the industry by introducing new and versatile wood products. These innovations cater to diverse applications, such as engineered wood, composite material, and treated lumber, expanding the market's potential across construction, furniture, packaging, and other sectors. This evolution not only enhances product quality but also encourages sustainable practices, contributing to the market's growth and meet evolving consumer demands.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Timber Type (Ash, Beech, Birch, Cedar, Fir, Mahogany, Maple, Oak, Pine), Application (Fuel Wood, Industrial Round Wood, Engineered Woods), Use (Construction, Flooring, Packaging, Transport, Others), End-User (Residential, Commercial, Industrial), Wood Type (Hardwood, Softwood)
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Market Players Covered
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Saudi Modern Factory Company (Saudi Arabia), Trust Wood (Saudi Arabia), Asala Wood (Saudi Arabia), ITCO (India), Gupta Timbertrader Pvt. Ltd. (India), Airolam decorative laminates (India)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The Saudi Arabia wood market is segmented on the basis of timber type, application, use, end-user, and wood type.
- On the basis of timber type, the Saudi Arabia wood market is segmented into ash, beech, birch, cedar, fir, mahogany, maple, oak, and pine.
- On the basis of application, the Saudi Arabia wood market is segmented into fuel wood, industrial round wood, and engineered woods.
- On the basis of use, the Saudi Arabia wood market is segmented into construction, flooring, packaging, transport, and others.
- On the basis of end-user, the Saudi Arabia wood market is segmented into residential and commercial, and industrial.
- On the basis of wood type, the Saudi Arabia wood market is segmented into hardwood, and softwood.
Major Players
Data Bridge Market Research recognizes the following companies as the major Saudi Arabia wood market players in Saudi Arabia wood market are Saudi Modern Factory Company (Saudi Arabia), Trust Wood (Saudi Arabia), Asala Wood (Saudi Arabia), ITCO (India), Gupta Timbertrader Pvt. Ltd. (India), Airolam decorative laminates (India)
Market Development
- In 2021, the Timber Exchange reported that Saudi Arabia's increasing demand in Riyadh, Jeddah, Dammam, and Khobar necessitates one million additional houses over the next ten years. The surge will lead to the creation of 628,000 units, with Riyadh accounting for 48 percent of the total required units.
For more detailed information about the Saudi Arabia wood market report, click here – https://www.databridgemarketresearch.com/reports/saudi-arabia-wood-market
