The long-term outlook for the wood products industry in Europe is good despite signs of a construction slowdown, Metsäliitto Group has said in its annual report.
The group, which includes the Finnforest business, said factors supporting wood use in building, including its renewable nature, meant the future was bright for its wood products division.
But it acknowledged that “growth in new residential construction will come to a halt and growth in renovation will slow down”.
“Non-residential construction is expected to show continued growth thanks to commercial and industrial construction,” it said. “The building industry is expected to show continued strong growth in the developing markets such as eastern Europe and Russia.”
Metsäliitto Wood Products industry says it will aim to create added value with current production volumes and make more efficient use of raw materials.
