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This market study report classifies manufacturers like Genena, Bosnia Wood, Bosnian Beech, Nord Ent, Iskra, Forestaveneer, JAF, Prograd, Legno-Service, Archigreen, Xylon, and Arboreko as the key players in this market space. It also provides a detailed analysis of the key drivers and trends that influence market growth. The market is also segmented by type of product, which includes sub-segments like veneer sheets and wood-based panels, sawmilled and planed wood, and others.
According to the market analysts at Technavio, the Bosnian and Herzegovinian wood manufacturing market will grow steadily during the forecast period and will be positively influenced by the strong demand for veneer boards. Between 2013 to 2014, the revenue generated from the sales of veneer boards and similar laminated wood (excluding blockboards and laminboards) increased by more than 500%. Much of this growth can be attributed to the demand for high-quality wood from the domestic furniture market, as well as from export markets such as Germany. This increase in the demand for veneer boards will offer vendors in the wood manufacturing industry the opportunity to augment their profit margins and market shares.
The rising adoption of advanced technologies will also aid in the growth of this market during the forecast period. In Bosnia and Herzegovina, medium- and large-scale manufacturers of wood-based products are focusing on the adoption and implementation of advanced machinery, such as the CNC, to enhance efficiency and production of value-added products. Such machines employ technical software like CAD and CAM, which not only help increase productivity but also allow manufacturers to produce goods of complex designs and shapes in an efficient manner. Such enhancements in productivity and efficiency are expected to contribute to the profit margins of manufacturers of wood-based products.
In this market, both the large and small vendors collaborate closely with customers to provide customized solutions. The collaboration between manufacturers and end users in the construction and furniture sectors is high. Major manufacturers compete based on aspects such as pricing, availability, variety, and quality as it will help them to augment their hold over the market. The prospects for growth of the players depends on market conditions, government support, and industrial development.
Top manufacturers identified by this market study are -
During 2015, the sawmilled and planed wood product segment dominated this market and accounted for an impressive market share of around 66%. The increasing demand for sawmilled wood from European countries is a major factor triggering the growth of the sawmilled and planed wood segment. According to the Chamber of Commerce of Bosnia and Herzegovina, exports account for more than 50% of the revenue generated from the sawmilled and planed wood segment.
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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