UK sales of timber products are projected to decline moderately to £10.89bn this year, according to a new report.
The “UK Timber & Joinery Market Development Report”, published by Market & Business Development (MBD) Ltd, says a slowdown during 2005 is a reflection of a decline in consumer confidence and spending, as well as a relatively static housing market.
The timber products sector, which includes, sawn timber, panels, wooden windows, kitchen furniture and timber frame, is expected to decline by 2% in 2006 and suffer a further marginal reduction in 2007, reflecting more uncertain economic conditions and price pressures due to increased penetration by cheaper imports. MBD predicts 1-2% annual growth between 2008-10.
MBD says the market for timber and semi-finished wood products (sawn and planed softwoods and hardwoods, plus panels) will grow by 3% in 2005, with projected sales of £3.18bn.
It anticipates demand for timber and semi-finished wood products to increase by 7% during 2006-2010. MBD believes market development will be partly driven by rising demand from the construction industry, as timber frame gains further market share.
The builders’ carpentry and joinery sector is forecast to experience a 2% decline during 2006 but with growth anticipated in the following four years. Timber windows are expected to capture an increasing share of the market, especially in new build, from plastic.
