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Emerging Trends
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Engineered Wood To Hold Steady |
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North American production of structural plywood and OSB is expected to finish the year at 43.08 billion sq. ft., down just 30 million ft. from the record 43.11 billion ft. last year, according to the annual fall forecast of APA-The Engineered Wood Association.
Production next year is forecast to be almost as high, at 43.05 billion ft. The 2007 forecast is based on the expectation that U.S. residential construction, although slowing, will remain relatively strong, with 1.835 million single and multifamily housing starts, compared to 1.95 million this year.
The forecast anticipates that residential construction in the U.S. and Canada will consume 24.2 billion sq. ft., compared to 25.2 billion sq. ft. this year. Demand in all other domestic markets combined-remodeling, industrial, and nonresidential construction-is expected to remain about the same.
North American structural wood panel imports and exports (excluding U.S.-Canada trade) are forecast to remain about the same next year as this year, with exports at 484 million sq. ft. and imports at about 1.9 billion ft.
Oriented strand board production next year is forecast to rise by about 180 million sq. ft., to 26.9 billion, while plywood output is expected to decline 206 million ft., to 16.1 billion ft.
The structural wood panel industry as a whole is forecast to operate at 90% of capacity in 2007, down from 95% this year and 98% in 2004 at the peak of the housing market boom. About 2.3 billion sq. ft. of new industry capacity is expected to be added next year, with another 1.9 billion ft. in 2008.
Among other engineered wood products, I-joist production is expected to total about 1.25 million linear ft. in 2007, just slightly higher than this year. Glulam timber production is forecast to total 470 million bd. ft., down 20 million bd. ft. from this year. And laminated veneer lumber output is expected to total 88.8 million cubic ft., nearly identical to 2006.
The complete forecast is produced as a planning tool for APA members and is not available to the general public. However, the association also publishes a yearbook of structural wood panel and other engineered wood product historical production and market data that is available for $200. The yearbook can be ordered from the APA Web site at www.apawood.org/publications. |
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