UK’s forestry, wood and wood products sector is picking up after five years of low demand and little expansion, according to the UK Timber Trade Federation Statistical Review.
In particular, growth of timber and panel products in 2014 was generally stronger than the year before with an overall volume increase of 10%. A 10% rise in UK timber and panel products consumption takes total consumption in 2014 to nearly 16 million m3.
Europe continues to dominate as the main supplier of timber and panel products with higher growth recorded than any other supplying region in 2014. All timber and panel products imports were higher by volume in 2014 with, as in 2013, particleboard and OSB imports achieving the highest growth rate, at 24%.
On the other hand, UK exports of timber and panel products fell by 3% in 2014, to a total of 576,000 m3. The provision of timber and panel products ready for use is valued at over £3.3 billion last year. The value added to these goods by wood processing industries puts the industry’s turnover at around £7.6 billion.
“This Statistical Review shows very positive trends for the timber industry in the UK”, says David Lennan, TTF Chief Executive. “The growth prospects are substantial and we hope to reflect this trend and wider sector growth in our next review.”
Source: UK TTF/ Panels & Furniture Asia