Why this is important to Wisconsin businesses: Wisconsin's rich forest resources can help meet this demand.
The value of U.S. hardwood exports to China has been on the rise during the first several months of 2016.
China is the world’s wood and wood products leader when it comes to both production and consumption, but does not possess as much supply as some other countries. As the Chinese economy develops rapidly and living standards improve, the real estate industry is growing quickly and furniture manufacturing is undergoing vigorous development, promoting the need for high-quality imports of wood products and eco-friendly building materials.
All the new homes, hotels, shopping centers, restaurants and office buildings under construction in China need flooring, cabinetry, doors and windows. China’s growing demand is unlikely to be met by domestic supply alone and has therefore created a huge opportunity for lumber imports.
Hardwood for interior decoration from the U.S. is becoming increasingly popular due to the unique colors and textures and wide selection available. U.S. exports of hardwood products to China in 2015 were valued at more than $1 billion, and have more than doubled over the past five years.
In addition, China and the U.S. have recently made public pledges to curb carbon emissions, and research indicates that using American hardwood has environmental advantages. Innovative technologies are opening up even more uses and applications for sustainable U.S. hardwoods in the construction and exterior markets, replacing materials with much higher environmental impacts such as steel, concrete, aluminum and plastic. U.S. hardwood exporters can help meet the rising demand in China and take advantage of the immense market potential that exists.