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The global teakwood market was worth USD 39.88 billion in 2022 and is expected to reach USD 83.79 billion by 2030, expanding at a CAGR of 9.6% between 2023 and 2030.
Tectona grandis, the scientific name for teak, is a deciduous tree that does best in mixed pine woods. Clusters of tiny, fragrant white flowers resemble grapes on its branches. A tropical hardwood with a fine grain and a smooth texture, teak's colors range from golden to brown and earn it a high value. It is one of the most sought-after timbers in the world despite being a medium-weight wood with ordinary toughness and a value that greatly surpasses its supply.
The tropical hardwood tree teak (Tectona grandis) comes from the Lamiaceae family. It's a huge deciduous tree that thrives in pine-hardwood groves. At the tips of its branches, the Tectona grandis produces panicles of small, fragrant white flowers. It ranks high among the most expensive tropical hardwoods in the world. The demand for teak far outstrips the supply, making it one of the world's most expensive woods. The grain is fine and the wood is smooth, and the color is a warm golden brown. When compared to other industrial timbers, Teak is rather typical in terms of weight, strength, and hardness. Due to its durability, attractive color and figure, and easy working and finishing properties, teak is one of the most sought-after tropical hardwoods for use in a wide variety of industries, including furniture, shipbuilding, decorative building components (such as doors, window frames, and flooring), construction materials, and reconstituted products.
The high oil content, strong tensile strength, and tight grain of teak make it a great choice for uses that require resistance to moisture. It's a common material for outdoor tables and boat decks. It's also a popular choice for veneer applications including furniture, kitchen countertops, and cutting boards. The presence of silica in the wood makes it easy to work, but it can severely dull sharp instruments. In direct sunshine, teak can develop a silvery gray patina over time.
Doors, glass panels, furniture, and structural beams and columns are just the beginning uses for teak in India. It can withstand attacks from termites and other insects without much trouble. Pricing for mature teak is expensive. State forest services cultivate large quantities of it in forested regions. Pellakai Gatti (jackfruit dumpling) is made by pumping batter into a teak leaf and then steaming it. As a result of its many applications, demand for teak is likely to rise rapidly in the coming year.
Farmers can increase their income, decrease their exposure to financial risk, and strengthen food security by adopting teak-based small-scale agricultural methods. When it comes to finding high-quality timber, teak plantations are a great solution. Using exceptional and site-specific genotypes, teak clonal forestry has proven to be an effective approach for generating fast-growing industrial stands with high yields, good wood quality, and commercial value. This clonal alternative offers the most potential for profit with the least amount of time and effort invested. The global teak wood market is increasingly sensitive to illegally or unsustainably sourced timber as a result of voluntary verification (sustainability) standards applied by retail businesses and involuntary regulatory (legality) compliance systems introduced by governments to influence market access and acceptance. trading and assistance policies are now emphasizing the adoption of such practices by developing nations in order to promote more sustainable forest management approaches and limit the prevalence of illegal forest product trading. In order to gain access to the global market, companies must now prove not just the legality of their products but also the transparency of their supply chains. The worldwide demand for Teakwood is anticipated to increase due to these causes in the future year.
There is not yet a standardized method for analyzing logs that can be used to reliably compare prices from different countries. Depending on the procedure, two equally correct but seemingly contradictory log values may be calculated. Misunderstandings and confusion can arise when the volume of logs produced by the grower and the volume traded are not the same. The logger wants to be compensated for their efforts, but the dealer will only buy usable logs. Conversion factors have been developed to aid in this vital dialogue, but their widespread use has not yet materialized.
Due to increased scrutiny of timber supply chains and tight government laws, tracking and tracing systems have been introduced. Many businesses in the timber industry have begun using tracking systems in an effort to maintain openness in their supply chains. Electronic tracking methods, including radio-frequency identifying chips, barcodes, and sophisticated traceability software, are preferred by wood firms and government agencies over paper-based solutions. For instance, the Forest Stewardship Council (FSC), a prominent non-profit organization, has developed an Online Claims Platform to supply FSC Certificate holders with up-to-date details about FSC products and the companies that produce them. As a result, businesses and consumers who value the FSC certification can now communicate online.
Report Coverage
Global Teakwood research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Teakwood report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Teakwood competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Teakwood market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Teakwood market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Teakwood market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Jindal Timber Traders, Green Valley Timber, Pinewood Industries Sdn Bhd, Global Teak, Veritas Exports, Neptune Co. Ltd., KAYU MAS Company, Chai & Chai Trading, Redwood Global LTD, CV Talang Mas, Crown Teak Furniture Co., Ltd., Eximcorp India Pvt Ltd, Nova Wood Products Pvt Ltd, Teakia Furniture, Teakwood Sandstone, Thai Teak Marine, Golden Teakwood Industries, Hua Hng Trading Co Pte Ltd, Island Teak Company, Teaknet
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Teakwood market based on the below-mentioned segments:
Global Teakwood Market, By Type
Finished Teakwood Products
Teakwood Processing
Manufactured Teakwood Materials
Global Teakwood market, By Application
Boat Building
Exterior Construction
Indoor & Outdoor Furniture
Others
Global Teakwood Market, By End User
Residential
Commercial
Global Teakwood market, Regional Analysis
Tectona grandis, the scientific name for teak, is a deciduous tree that does best in mixed pine woods. Clusters of tiny, fragrant white flowers resemble grapes on its branches. A tropical hardwood with a fine grain and a smooth texture, teak's colors range from golden to brown and earn it a high value. It is one of the most sought-after timbers in the world despite being a medium-weight wood with ordinary toughness and a value that greatly surpasses its supply.
The tropical hardwood tree teak (Tectona grandis) comes from the Lamiaceae family. It's a huge deciduous tree that thrives in pine-hardwood groves. At the tips of its branches, the Tectona grandis produces panicles of small, fragrant white flowers. It ranks high among the most expensive tropical hardwoods in the world. The demand for teak far outstrips the supply, making it one of the world's most expensive woods. The grain is fine and the wood is smooth, and the color is a warm golden brown. When compared to other industrial timbers, Teak is rather typical in terms of weight, strength, and hardness. Due to its durability, attractive color and figure, and easy working and finishing properties, teak is one of the most sought-after tropical hardwoods for use in a wide variety of industries, including furniture, shipbuilding, decorative building components (such as doors, window frames, and flooring), construction materials, and reconstituted products.
The high oil content, strong tensile strength, and tight grain of teak make it a great choice for uses that require resistance to moisture. It's a common material for outdoor tables and boat decks. It's also a popular choice for veneer applications including furniture, kitchen countertops, and cutting boards. The presence of silica in the wood makes it easy to work, but it can severely dull sharp instruments. In direct sunshine, teak can develop a silvery gray patina over time.
Doors, glass panels, furniture, and structural beams and columns are just the beginning uses for teak in India. It can withstand attacks from termites and other insects without much trouble. Pricing for mature teak is expensive. State forest services cultivate large quantities of it in forested regions. Pellakai Gatti (jackfruit dumpling) is made by pumping batter into a teak leaf and then steaming it. As a result of its many applications, demand for teak is likely to rise rapidly in the coming year.
Farmers can increase their income, decrease their exposure to financial risk, and strengthen food security by adopting teak-based small-scale agricultural methods. When it comes to finding high-quality timber, teak plantations are a great solution. Using exceptional and site-specific genotypes, teak clonal forestry has proven to be an effective approach for generating fast-growing industrial stands with high yields, good wood quality, and commercial value. This clonal alternative offers the most potential for profit with the least amount of time and effort invested. The global teak wood market is increasingly sensitive to illegally or unsustainably sourced timber as a result of voluntary verification (sustainability) standards applied by retail businesses and involuntary regulatory (legality) compliance systems introduced by governments to influence market access and acceptance. trading and assistance policies are now emphasizing the adoption of such practices by developing nations in order to promote more sustainable forest management approaches and limit the prevalence of illegal forest product trading. In order to gain access to the global market, companies must now prove not just the legality of their products but also the transparency of their supply chains. The worldwide demand for Teakwood is anticipated to increase due to these causes in the future year.
There is not yet a standardized method for analyzing logs that can be used to reliably compare prices from different countries. Depending on the procedure, two equally correct but seemingly contradictory log values may be calculated. Misunderstandings and confusion can arise when the volume of logs produced by the grower and the volume traded are not the same. The logger wants to be compensated for their efforts, but the dealer will only buy usable logs. Conversion factors have been developed to aid in this vital dialogue, but their widespread use has not yet materialized.
Due to increased scrutiny of timber supply chains and tight government laws, tracking and tracing systems have been introduced. Many businesses in the timber industry have begun using tracking systems in an effort to maintain openness in their supply chains. Electronic tracking methods, including radio-frequency identifying chips, barcodes, and sophisticated traceability software, are preferred by wood firms and government agencies over paper-based solutions. For instance, the Forest Stewardship Council (FSC), a prominent non-profit organization, has developed an Online Claims Platform to supply FSC Certificate holders with up-to-date details about FSC products and the companies that produce them. As a result, businesses and consumers who value the FSC certification can now communicate online.
Report Coverage
Global Teakwood research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Teakwood report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Teakwood competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Teakwood market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Jindal Timber Traders, Green Valley Timber, Pinewood Industries Sdn Bhd, Global Teak, Veritas Exports, Neptune Co. Ltd., KAYU MAS Company, Chai & Chai Trading, Redwood Global LTD, CV Talang Mas, Crown Teak Furniture Co., Ltd., Eximcorp India Pvt Ltd, Nova Wood Products Pvt Ltd, Teakia Furniture, Teakwood Sandstone, Thai Teak Marine, Golden Teakwood Industries, Hua Hng Trading Co Pte Ltd, Island Teak Company, Teaknet |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Teakwood Market from 2021 to 2030.
- Market Forecast for Teakwood Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Teakwood competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Teakwood
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Teakwood market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Teakwood market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Jindal Timber Traders, Green Valley Timber, Pinewood Industries Sdn Bhd, Global Teak, Veritas Exports, Neptune Co. Ltd., KAYU MAS Company, Chai & Chai Trading, Redwood Global LTD, CV Talang Mas, Crown Teak Furniture Co., Ltd., Eximcorp India Pvt Ltd, Nova Wood Products Pvt Ltd, Teakia Furniture, Teakwood Sandstone, Thai Teak Marine, Golden Teakwood Industries, Hua Hng Trading Co Pte Ltd, Island Teak Company, Teaknet
Primary Target Market
- Market Players of Teakwood
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Teakwood market based on the below-mentioned segments:
Global Teakwood Market, By Type
Finished Teakwood Products
Teakwood Processing
Manufactured Teakwood Materials
Global Teakwood market, By Application
Boat Building
Exterior Construction
Indoor & Outdoor Furniture
Others
Global Teakwood Market, By End User
Residential
Commercial
Global Teakwood market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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