U.S.: Market for Engineered Wood Members (except Trusses) 2024

Market Size for Engineered Wood Members (except Trusses) in the U.S.

In 2023, after three years of growth, there was significant decline in the U.S. market for engineered wood members (except trusses), when its value decreased by X% to $X. Overall, consumption, however, showed a remarkable increase. Engineered wood member (except truss) consumption peaked at $X in 2022, and then dropped in the following year.

Production of Engineered Wood Members (except Trusses) in the U.S.

In value terms, engineered wood member (except truss) production reduced modestly to $X in 2023. In general, the total production indicated a remarkable increase from 2013 to 2023: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2022, and then dropped modestly in the following year.

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Exports of Engineered Wood Members (except Trusses)

Exports from the U.S.

In 2023, overseas shipments of engineered wood members (except trusses) decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Overall, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. The exports peaked at X tons in 2022, and then shrank notably in the following year.

In value terms, engineered wood member (except truss) exports declined remarkably to $X in 2023. Over the period under review, total exports indicated a tangible expansion from 2013 to 2023: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The exports peaked at $X in 2022, and then dropped sharply in the following year.

Exports by Country

Canada (X tons) was the main destination for engineered wood member (except truss) exports from the United States, accounting for a X% share of total exports. It was followed by Australia (X tons), with a X% share of total exports. Japan (X tons) ranked third in terms of total exports with a X% share.

From 2013 to 2023, the average annual rate of growth in terms of volume to Canada stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Japan (X% per year).

In value terms, Canada ($X) remains the key foreign market for engineered wood members (except trusses) exports from the United States, comprising X% of total exports. The second position in the ranking was held by Australia ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2013 to 2023, the average annual rate of growth in terms of value to Canada stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Japan (X% per year).

Export Prices by Country

In 2023, the average export price for engineered wood members (except trusses) amounted to $X per ton, flattening at the previous year. Over the period under review, the export price, however, continues to indicate a deep contraction. The growth pace was the most rapid in 2016 when the average export price increased by X%. The export price peaked at $X per ton in 2017; however, from 2018 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Engineered Wood Members (except Trusses)

Imports into the U.S.

After five years of growth, supplies from abroad of engineered wood members (except trusses) decreased by X% to X tons in 2023. Overall, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2022, and then reduced in the following year.

In value terms, engineered wood member (except truss) imports contracted significantly to $X in 2023. Over the period under review, imports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. Imports peaked at $X in 2022, and then dropped dramatically in the following year.

Imports by Country

In 2023, Canada (X tons) constituted the largest supplier of engineered wood member (except truss) to the United States, with a X% share of total imports. Moreover, engineered wood member (except truss) imports from Canada exceeded the figures recorded by the second-largest supplier, Brazil (X tons), sevenfold. Chile (X tons) ranked third in terms of total imports with a X% share.

From 2013 to 2023, the average annual growth rate of volume from Canada stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Chile (X% per year).

In value terms, Canada ($X) constituted the largest supplier of engineered wood members (except trusses) to the United States, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with a X% share of total imports. It was followed by Vietnam, with a X% share.

From 2013 to 2023, the average annual growth rate of value from Canada stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Vietnam (X% per year).

Import Prices by Country

The average import price for engineered wood members (except trusses) stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the import price faced a dramatic decline. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were Vietnam ($X per ton) and Indonesia ($X per ton), while the price for Chile ($X per ton) and China ($X per ton) were amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Estonia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform