Europe Saw Blade for Wood Industry Market is growing at a CAGR of 3.2% to reach US$ 367.85 million by 2030 from US$ 286.12 million in 2022 by Product Type, Material, and Application.
Continuous Growth in Pulp & Paper Industry is Driving the Europe Saw Blade for Wood Industry Market Growth
According to our latest market study on " Europe Saw Blade for Wood Industry Market Forecast to 2030 –Regional Analysis – by Product Type, Material, and Application," the market is expected to grow from US$ 286.12 million in 2022 to US$ 367.85 million by 2030; it is anticipated to register a CAGR of 3.2% from 2022 to 2030.
The pulp & paper industry plays a vital role in the European economy. Europe is the world's second-largest producer of pulp and paper, producing 37 million tonnes of pulp and 100 million tonnes of paper articles, accounting for almost a quarter of global output. The European pulp & paper industry reached US$ 130,226 million in 2022, a 21% hike from 2020. Paper is manufactured from pulp, a soft and moist material composed of cellulose derived from wood and plants. Pulp is one of the most versatile materials available, with applications ranging from everyday things such as tissues, books, and baby wipes to cutting-edge technology such as automobile filters, LCD screens, renewable fuel, and stickers. The pulp & paper sector in the EU generated 74 billion euros in revenue in 2020. As a result, the pulp & paper sector accounted for around 0.45% of EU GDP. In 2020, the manufacturing of paperboard and paper goods had a turnover of 104 billion euros.
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Further, in 2021, wood consumption reached 150 million cubic meter, a 4% hike from 2020. Softwood accounts for the majority of the wood consumption in the pulp & paper industry. Europe primarily depends on its domestic wood supply for the pulp & paper industry, with a share of 85.7%, whereas imports account for 14.3% of total wood consumption. Thus, the increased demand for pulp and paper fuels the demand for woodworking tools, ultimately driving the saw blade market growth.
The adoption of wooden pallets in the region is more common compared to plastic pallets due to increased awareness about sustainability. Further, the demand for wood pallets and packaging is increasing mainly due to continuous growth in the retail and e-commerce industry. The retail industry is the most important industrial ecosystem, accounting for 11.5% of the total European Union value added. There are 5.5 million enterprises in the retail industry. The retail ecosystem is critical in the distribution of products that serve 450 million European consumers on a daily basis. As per the data provided by the European Commission, consumers spend one-third of their household budget at retail stores on average. Wood pallets and packaging are the key components in the retail supply chain that enable effective transportation of the products. Thus, owing to the factors mentioned above, the adoption of wood pallets in the retail industry is high, which may drive the wood saw blade market share in Europe.
Further, Europe is one of the notable markets in the e-commerce industry, accounting for 30% of the global e-commerce market revenue, as per Contentserv Swiss GmbH. As per the European e-commerce report published in 2022, European e-commerce reached US$ 813 billion in 2021 (representing a 13% increase), an increase from US$ 777.4 billion in 2020. In France, 82% of the total internet users bought goods from online e-commerce platforms in 2021, whereas in 2019, 77% of total users purchased from e-commerce platforms. As per the European Federation of Wooden Pallet and Packaging Manufacturers, ~25 million cubic meter of timber is used every year for pallets and packaging. Thus, continuous growth in retail and e-commerce growth will directly increase the demand for wooden packaging, ultimately generating lucrative opportunities for wood saw blade market in the coming years.
A few major Europe saw blade for wood industry market players operating in the market are Robert Rontgen GmbH, SNA Europe, Wespa Metallsagenfabrik Simonds Industries, Koll & Cie GmbH & Co. KG., Saw and Tool Factory WAPIENICA Sp Zoo, RUKO GmbH, FABA SA, Aspi Spolka ZOO Spolka Komandytowa, Kanefusa Europe BV, Pilana Wood SRO, Ake Knebel GmbH & Co KG, Ledermann GmbH & Co KG, Metabowerke GmbH, GDA SRL, TKM Austria GmbH, and Leitz GmbH & Co KG. Many saw blade for wood industry market players are investing in saw blade market owing to the potential improvements related to accuracy, operational efficiency, and timely order fulfillment of the saw blade market.
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