The Forest Industry Plays a Critical Role in a Country's Economy

The forest industry plays a critical role in a country's economy right from supporting the production of a diverse variety of forest based products towards generating employment and providing recreational and tourism opportunities. Given, the important role played by forest products in the world economy in influencing economic progress and human well being, its opportunities galore for the industry in the upcoming years. The omnipresent use of forest products in everyday life can be put into perspective by the fact that wood is universally demanded and is accorded importance on par with man's dependence on food. With forests emerging into a bridge that connects to the envisioned transition towards a green economy, planted forests are forecasted to grow in turn generating production opportunities for forest products. The forest industry is governed by various government regulations, and international trade policies. Production of forest products in the upcoming years will be positively influenced by technologically superior forest and plantation management practices capable of producing highly productive yields per acre of land. Increased globalization in trade and heightened levels of environmental awareness will continue to lead forest product companies' to focus on creating competitive value for their product offerings by providing detailed information regarding product characteristics, including origin of raw material, manufacturing process and performance of product in service. Non-wood forest products such as edible fruits and nuts, mushrooms, herbs, spices, condiments, gums, resins, and aromatic plants among others have been gaining relative importance of late, Wood and wood-products continue to remain major contributors to the global forest products industry. Growing importance of wood energy, driven by favorable government policies and financial incentives for, alternative energy sources, is driving tremendous demand for wood and wood products. Increasing prices of traditional energy sources such as oil and coal, and vulnerability of nuclear power plants to natural disasters such as earth quake and floods, as seen in the recent case of Fukushima nuclear power plant in Japan, are driving increased demand for alternative energy sources such as wood energy, thereby driving up demand for wood and wood products across the globe. Resurgence in housing construction after a considerable period of lethargy due to the recent economic recession augurs well for the forest products market, especially for wood panels and sawn softwood. The research report titled "Forest Products: A Global Outlook" announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a rudimentary overview of the industry, highlights latest trends and demand drivers, in addition to providing statistical insights. Regional markets briefly abstracted and covered include North America (US and Canada), Japan, Europe (France, Finland, Italy, Sweden, the United Kingdom, and Russia), Asia-Pacific (China, India, Indonesia, Malaysia, and Vietnam), and Latin America. The report offers a compilation of recent mergers, acquisitions, and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide. Source: sfgate.com