The overall UK market for timber and joinery products was worth £10.5bn in 2004, says a fresh report.
Market & Business Development Ltd’s (MBD) UK Timber & Joinery Market Development Report says the sector, which includes sawn timber, panels, wooden windows, kitchen furniture and timber frame, grew by a moderate 1% last year, in contrast to a 6-8% growth rate a couple of years before.
MBD believes interest rate rises have dampened consumer spending and slowed house prices inflation. It expects only modest growth for 2005.
The market for timber and semi-finished wood products is predicted to increase by 7% between 2004-09, hitting a peak of £3.45bn at the end of the five year period. Overall demand in the timber and joinery products sector is expected to grow by 5% during the period to £11.1bn.
MBD predicts an 11% growth in the sawmilling and planing market during the forecast term.
