Wood and Wood Products Market will Raise 3.1 % GDP by 2015

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SpoonWood, a special gift from God to the mankind has proved to be one of the best used materials form ancient to the modern times. Wood is the hard part of a tree which can be used for different purposes mainly as a fuel, construction material for building houses, making furniture, paper, plywood, weapons, utensils like wooden spoons, chopstick, toothpick etc. It is also used as charcoal, creating sports and recreational equipments, making sculptures and music instruments. There is an endless number of benefits which we derive from the wood and wood products. These usefulness of wood and its products has made it popular in the eyes of society from time immemorial.

There are two types of wood:-

1. Hardwood:- the wood of angiosperm trees with presence of pores in it. Eg: teak, maple wood. walnut, rosewood, oak etc. used for making extremely heavy, strong and durable furniture.

2. Softwood: – evergreen trees are known as softwood, and it provides around 80 per cent of the world’s production of timber. Eg: pine, ash, beech, hickory, cedar, fir etc.

Wood being a renewable form of energy is replenished by planting trees and the wood processing industry entail the change of trees into valuable consumer products. A market analysis report states that home and commercial construction market is creating many job vacancies in the wood products industry. The industry consists of producers of engineered wood, wood products, veneer etc. and it is estimated that around 1,652 companies will be operating in the industry in the year 2013. The market for wood flooring is showing a sluggish movement in Europe and United States due to economic crisis, however the demands recovered rapidly in the Asia-Pacific region. China and other Asian countries are projected to boost the capacity of producing and exporting wood products by the year 2040.

A Global market research report states that, the real estate market will generate a GDP (gross domestic product) of 2 percent in this year which will rise up to 3.1 percent by the year 2015. The labour market will also grow in the coming years creating 2.6 million jobs by the year 2015. The boom in the real estate market and the labour industry will ensure the use of wood and wood products industry for construction, making doors, windows, cupboards, bed etc.