Forestry - South Korea

The Forestry market is a vital component of the global economy in that it provides raw materials for a multitude of industries and plays a key role in environmental sustainability. This dynamic market is shaped by various factors.

There is a rising demand for sustainable and eco-friendly wood products, driven by a growing environmental awareness. Consumers are increasingly favoring products from responsibly managed forests that are certified by organizations such as the Forest Stewardship Council (FSC) or the Programme for Endorsement of Forest Certification (PEFC). This trend is propelling the market toward more sustainable practices.

Technological advancements in forestry, such as precision forestry and improved harvesting techniques, are enhancing efficiency and reducing environmental impact. In regions such as Scandinavia, sustainable forestry practices are well established. Emerging economies are seeing rapid growth in forestry activities, which is often fueled by foreign investments and local government policies. In countries such as Canada and Brazil, meanwhile, forestry practices are strongly influenced by local environmental laws and the situation regarding indigenous land rights. These factors dictate how forestry operations are conducted and have implications for market access and sustainability.

Global economic conditions, trade tariffs, and international agreements significantly impact the Forestry market. Demand for wood products is closely tied to the health of the construction industry and the evolution of the paper industry in response to increasing digitalization. In China and the United States, among others, infrastructure development and housing markets are also heavily affecting demand for timber and wood products.

Data Coverage:

The data encompasses B2B enterprises. Figures are based on the import and export values in the Forestry market.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for making forecasts about forestry products due to the non-linear growth of this market, which is mainly due to the direct impact of climate change.

Additional Notes:

The data is modeled using current exchange rates. The impact of the Russia-Ukraine war is considered at a country-specific level. The market is updated once a year.