NEWS

Russia's production of lumber dropped by 18.3% from January–October vs. last year. Production of plywood fell even further, down by 26.7%.

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Lesprom: Russia's lumber production decreased by 18.3% in October

Experts predict that the global market for engineered wood flooring will reach nearly $77 billion in 2030, a compound annual growth rate of 5.5%. Last year, the market grew to $47.5 billion. North America is forecast to hold the largest share due to increasing use in construction and in existing U.S. residential and commercial buildings.

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Year-to-date through September, U.S. imports of engineered wood flooring have grown by more than 22% in value to more than $1 billion and by more than 19% in volume to over 600 million square feet. This strong growth comes on the heels of an increase of more than 31% in value in 2021. Year-to-date imports from Vietnam are up by 33%.

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Year-to-date through September, hardwood plywood imports have climbed nearly 40% in value to nearly $1.8 billion and 15% in volume to nearly 2.7 billion square feet. These dramatic increases follow an increase of more than 35% in volume in 2021. Year-to-date increases from Indonesia and Vietnam were both about 60% in value.

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Today, the U.S. Fish and Wildlife Service announced a final rule to reclassify the northern long-eared bat as endangered under the Endangered Species Act. The final rule will appear in the Federal Register tomorrow and becomes effective on January 30, 2023.