APA forecasts sharp growth in demand for North American structural panels

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APA/Fordaq
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From 2015 to 2019, the American industry association APA-The Engineered Wood Association predicts an increasing demand for North American engineered wood products. Structural panels are forecast to grow 19 percent, and other engineered wood products will see growth of 20 to 25 percent.

Driven by a 12 percent increase in housing starts in the U.S., demand for structural panels in residential construction in North America is expected to rise 10 percent in 2015, while growth in the other end-uses is projected to be 2.5 percent. North American production of OSB and plywood is predicted to hit 32.2 billion square feet in 2015, an increase of nearly 8 percent over 2014, says APA.

Glulam production is on the rise, up 2 percent in 2014, and is projected to grow 8 percent this year, to 255 million board feet, and continue to increase steadily through 2019.

In 2015, I-joist production is anticipated to increase to 750 million linear feet from 672 million linear feet in 2014. With steady increases in housing starts in the U.S., production is projected to reach 955 million linear feet by 2019.

LVL demand will also benefit from sustained improvement in housing starts. LVL production in 2015 is forecast to reach 68.8 million cubic feet, from 63.9 million in 2014, and by 2019 output is projected to grow by 28 percent to 88 million cubic feet.

Due to rising domestic demand for North American plywood and the strength of the U.S. dollar, APA anticipates that plywood imports, notably from Chile, will increase through 2019. Imports will account for 5 percent of North American plywood consumption in 2015. OSB exports rose 1 percent in 2014; export growth is expected to accelerate in 2016-17 as world economic growth picks up speed.

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