NEWS

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.

Resource:

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%.

Resource:

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.

Resource:

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.

A consortium has paid $1.8 billion for a block of U.S. hardwood forests, the largest bet yet on forest carbon markets. The consortium is acquiring and managing timberland to maximize how much carbon is stored in the standing trees, rather than sustainably managing the forest for harvest.

Resource: