U.S Hardwood Lumber Market to reach $6.1 billion by 2030; Construction and renovation growth, sustainability and eco-friendly trends, export demand, technological advancements, growing furniture industry, government and industry support, forest healt

The U.S Hardwood Lumber Market size is estimated to reach $6.1 billion by 2030, growing at a CAGR of 5.2% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “U.S Hardwood Lumber Market– By Type (Oak, Maple, Cherry, Walnut, Ash and Others), By Grade (FAS (First and Seconds), Select, No. 1 Common, No. 2 Common, Others), By Application (Furniture, Flooring, Cabinets, Millwork, Packaging & Pallets, Others), By Sales Channel (Direct Sales, Distributors/Wholesalers, Retailers, and Others) Opportunity Analysis & Industry Forecast, 2024-2030.”

Hardwood lumber demand in the U.S. is increasing due to construction and renovation growth and sustainability and eco-friendly trends are driving the use of hardwood products. The quality and durability of U.S. hardwoods means that demand for them is increasing in export markets. Production efficiency is increasing and applications are expanding due to technological advancement. Hardwood materials are being used more in the growing furniture industry. Innovation and market expansion is being fostered by government and industry support. Forest health management initiatives are designed to ensure sustainable supply and long-term growth. These factors combined drive growth in the U.S Hardwood Lumber Market.

In terms of type, oak accounted for the largest share of 39% of the U.S Hardwood Lumber Market in 2023. Oak is the largest segment in the U.S. hardwood lumber market by type because of its timeless appeal, durability and versatility. Stellar Floors states that oak hardwood floors are highly loved for their natural grain patterns and warm tones that always bring elegance and make an interior visually appealing. Due to oak’s strength, it’s a good choice for high traffic areas and homes with pets as it will last longer. Oak floors also are a useful asset in real estate since they often add to property’s market appeal and value. Oak is often seen as a symbol of luxury and quality, and is often linked to upper middle-class homes, states Stellar Floors. Consistent with its facility for use, aesthetic appeal and low performance cost parameters, oak’s enduring popularity has firmly cemented the hardwood lumber industry’s dominance in the U.S. market for residential construction and for certain commercial applications.

The U.S. hardwood lumber market is driven by government and industry support to foster innovation and sustain rural economies. This commitment was underscored in July 2024 when the National Hardwood Lumber Association (NHLA) received a $500,000 matching grant from the USDA Forest Service’s Wood Innovations Program. About 200 sawmills stand to gain from the grant, which supports initiatives to improve wood utilization at sawmills, streamline processes and train workforce. It also supports the Real American Hardwood initiative, which educates designers and architects about the sustainability and versatility of hardwood lumber. The importance of these efforts is critical for solving the challenges small sawmills face, which make up over 50% of the industry and often have high operating costs and low revenues. This collaboration strengthens the market and promotes healthier forests by promoting sustainable practices and economic growth in rural communities.

Construction growth serves as a significant driver of the U.S. hardwood lumber market due to its expansive economic footprint and rising demand across residential and non-residential sectors. The construction industry employs more than 8 million people in more than 919,000 establishments and generates nearly $2.1 trillion in annual economic activity for the U.S., according to the Associated General Contractors of America. The U.S Census Bureau states, Construction spending increased 14% in December 2023 compared with a year earlier, despite the inflationary pressures, as robust activity. Single family homebuilding rose 10%, multifamily construction 12%, and residential construction as a whole grew 7%, a key consumer of hardwood lumber. Non-residential construction spending increased 20%, as private projects, up 19% and public investments up by 22% rose simultaneously. Hardwood lumber of the various types and qualities are used in flooring, cabinetry and decorative elements in buildings and give it its status as the most popular construction material. And construction’s role in growing hardwood lumber demand in the US is underscored by this sustained growth.

Key companies profiled in the U.S Hardwood Lumber Market are Beasley Forest Products, Baillie Lumber Co., Gutchess Lumber Co., Inc., Midwest Hardwood Corporation, Northwest Hardwoods, HHP Inc., MacDonald & Owen Lumber Company, AHC Hardwood Group, Weyerhaeuser, Thompson Hardwoods and others.

Wooden Decking Market– Wooden Decking Market size is forecast to reach $34.8 billion by 2030, after growing at a CAGR of 2.9% during 2024-2030. Growing construction activities and rising disposable income are the major factors expected to drive the growth of the wooden decking market.

Wood Coatings Additives Market – Wood coating additives market size is forecast to reach $1098.3 million by 2030, after growing at a CAGR of 6% during the 2024-2030 forecast period, owing to the increasing usage of wood coating additives such as nanofibrillated cellulose in various applications to protect the wood from bacteria, and other harmful organisms, and artificial weathering.

Plywood Market - Plywood Market size is forecast to reach US$61.3 billion by 2027 after growing at a CAGR of 5.2% during the forecast period 2022-2027. The growth is driven by increasing demand in construction and infrastructure projects, rising adoption of eco-friendly building materials, and the growing use of plywood in furniture, flooring, and interior design applications.