Global softwood lumber production to rise 24% by 2020 in comparison with 2010

VANCOUVER (Scrap Monster): According to the latest Wood Markets Monthly International Report, the global softwood lumber production is expected to record significant growth of 24% by 2020 in comparison with the 2010 levels. The production volumes are expected to rise by nearly 70 million cubic metre.

According to the report, global softwood lumber production had hit lows of 264 million cubic metre in 2009, but rose nearly 9% in 2010 to 288 million cubic metre. The production expanded by another 18 million cubic metre to reach 306 million cubic metre in 2012.

Based on timber harvest forecast, the lumber production by the US is forecast to jump by 55% over the ten years from 2010 to 2020. The total production volumes will go higher by 24 million cubic metre over the period. The lumber production by China is expected to rise by 40% over the ten-year period, whereas the output from top 10 European countries is forecast to climb higher by 18%.

The log imports by China are set to increase considerably as the domestic softwood timber harvest is expected to remain stagnant. Russian softwood lumber output is projected to grow by 30% over the ten years, but log exports by the country are expected to decline over the period.

The report also states that all other countries including Canada will see limited rise in softwood lumber growth. On the other hand, Japan will be the only country among the top-20 list to report decline in softwood lumber output. The deteriorating saw mill industry in the country will result in lower production levels during the period.