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Market Report

According to a press release by the Malaysia Timber Council (MTC), the Malaysian timber industry has managed to sustain itself fairly well despite COVID-19 and its associated economic fallout.Demand for Malaysian timber-based products especially furniture grew in early 2020 as people around the world began working from home, leading...
A new report by Acimall, the association of Italian woodworking technology manufacturers, indicated a positive performance for Q4 2021 for the Italian woodworking technology sector. According to the report, although the October to December 2021 period was "quieter" than the previous quarters, orders still increased by 41% over the...
A recent report by Hong Leong Investment Bank (HLIB) Research has provided a positive outlook for the Malaysian furniture industry in 2022, although it will continue to face some challenges.The general outlook is due to a number of factors that include the relaxation of movement restrictions which allows furniture...
By Peter FitchI think that we have been repeatedly reminded that the answer is no.During the COVID-19 pandemic, we saw an increase in demand for furniture globally. The global furniture market is expected to grow from US$564.17 billion in 2020 to $671.07bn in 2021 at a CAGR of 18.9%....
According to the latest Timber Trade Federation (TTF) statistics, timber and panel product import volumes continued to show a steady decline in Q4 2021 as more "regular" demand returns to the UK market.The latest TTF statistics found the volume of timber and panel products imported into the UK...
The European furniture sector is still grappling with the COVID-19 pandemic, with no certainty yet that the most dramatic swings in supply and demand are in the past.Several European countries, including France and Italy, were reporting record numbers of new daily COVID cases in the last week of January,...
According to the International Tropical Timber Organisation (ITTO), the chairman of the Association of Indonesia Forest Concession Holders (APHI), Indroyono Soesilo, has indicated that natural forest wood production reached 6.03 million m3 in 2021, recording a growth of 14.4% year-on-year. Additionally, plantation production was 46.4 million m3, 1% higher...
According to a report by the Wood Resource Quarterly (WRQ), record-high lumber prices in North America and Europe have moved both demand and sawlog values to some of the highest levels seen since WRQ started tracking sawlog markets in 1995. In their local currencies, log prices in the Nordic...
According to Vietnam Plus, the exports of wood and furniture products to the US from Vietnam is expected to reach US$10 billion in 2022.The prediction is based on the development trend from 2021. Wood and furniture exports to the US surged 22.4% in 2021 to $8.8bn, 87.6% of which...
The EU is requesting consultations with Russia at the World Trade Organisation (WTO) concerning export restrictions placed by Russia on wood products.According to Lesprom, the EU has been trying to consult Russia since October 2020, when the export restrictions kicked in. They entered into force in 2022. The...