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www.americanhardwood.org
Michael Snow Executive Director
American Hardwood Export CouncilNovember 2016
Hardwood Market Report, 2016
200
400
600
800
1000
1200
1400
Furniture Moulding/Millwork Cabinets Flooring
Millio
n B
oard
Feet
Consumtion of Hardwood Lumber by US Grade Markets
2007 2015
Source: Private, Government, and HMRGraph: Hardwood Market Report
0
2
4
6
8
10
12
14
US Production of Wood Residential Furniture
Billion $
Source: American Home Furnishings Alliance
0
2000
4000
6000
8000
10000
12000
14000
16000
18000
1990 1995 2000 2005 2010
China Vietnam & Oth ASEAN NAFTA EU ROW
U.S. Imports of Wood Furniture & Parts
Million $
Source: U.S. Dept. of Commerce, Census Bureau, reported by GTIS (mirror statistics)
$-
$2
$4
$6
$8
$10
$12
$14
$16
$18
Bill
ion
s ($
USD
)Wood Furniture Importers 2013-2015
2013
2014
2015
0
5,000
10,000
15,000
20,000
25,000
30,000
2005 2015
Th
ou
san
d C
ub
ic M
eter
sHardwood Lumber Consumption by
US Major Market Groups Industrial
lumber
Grade lumber
- Domestic
Grade lumber
- Export
11%
49%
40%
19%
29%
58%
19.6
Million
M3
27.3
Million
M3
© 2016 Hardwood Market Report
Export41%
Domestic
2014Export
26%
Domestic
2009
Export14%
Domestic
1999
% of Grade Lumber Exported
U.S. Grade Lumber Markets
Hardwood Review 2015
800
900
1000
1100
1200
1300
1400
1500
1600
0
500
1000
1500
2000
2500
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Housing Starts Hwd Weekly Review Index
Housing Starts and Hardwood Prices
Source: Census Bureau; Hardwood Weekly Review
SA Starts (000) $/MBF
20%
40%
60%
80%
100%
120%
140%
160%Ja
n-0
0
Ja
n-0
1
Ja
n-0
2
Ja
n-0
3
Ja
n-0
4
Ja
n-0
5
Ja
n-0
6
Ja
n-0
7
Ja
n-0
8
Ja
n-0
9
Ja
n-1
0
Ja
n-1
1
Ja
n-1
2
Ja
n-1
3
Ja
n-1
4
Red Oak Exports
Red Oak Prices
Shift to Exports as LT Price Driver
Source: Global Trade Atlas & Eurostat
Source: USDA GATS
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Percentage of Total US Hardwood Lumber Exports (Volume)
European Union-27
Canada
China
Vietnam
Source: USDA FASGraph: Hardwood Market Report
China46%
Canada16%
Other38%
2014China26%
Canada25%
Other49%
2009
China8%
Canada34%
Other58%
1999
% of Hardwood Exports to China
U.S. Export Lumber Markets
Hardwood Review 2016
US Hardwood Lumber Exports
US Hardwood Lumber Exports
US Hardwood Lumber Exports
China19%
All Other Domestic & Global
2014
China7%
All Other Domestic & Global
2009
China1%
All Other Domestic & Global
1999
Rising Importance of China
China’s Share of U.S. Grade Markets
1 in 5 grade lumber boards cut
is for China
Hardwood Review
• Traditionally Red Oak, but one of our most diversified markets
• Flood of Ash in last 5yrs
• Cherry has risen every year since 2009
38%
18%
9%
8%
7%
7%
0
2
4
6
8
10
12
14
China Germany Italy Vietnam Poland Malaysia Canada Indonesia Denmark UnitedStates
Turkey Sweden SE Asia
2015 Wood Furniture Exporters $US Billion
$-
$500
$1,000
$1,500
$2,000
$2,500
$3,000
$3,500
$4,000
$4,500
Mill
ion
s ($
USD
)US Wood Furniture Imports 2013-2015
by Source Country
2013
2014
2015
Per Capita Wood Consumption
0
0.2
0.4
0.6
0.8
1
1.2
1.4
China World OECD USAIn cubic meters per capita
Source: China Timber Import Export Co/Hardwoodmarkets.com 2008
$-
$20
$40
$60
$80
$100
$120
$140
$160
$180
$200
Vietnam Japan Indonesia Thailand Malaysia SouthKorea
Millions($USD)
USHardwoodLumberExportstoOtherAsianMarkets
2010
2011
2012
2013
2014
2015
Source: USDA GATS
Source: USDA GATS
The Importance of Europe…
$-
$2
$4
$6
$8
$10
$12
$14
$16
$18
Bill
ion
s ($
USD
)Wood Furniture Imports 2013-2015
2013
2014
2015
0
20
40
60
80
100
120
140
160
180
10
00
cu
bic
met
ers
Exports of US sawn hardwood to Europe by timber type, Years 2014-15, Jan-Jun 2015-16
Year 2014 Year 2015 Jan-Jun 2015 Jan-Jun 2016
Sept 2016 EU EAB regulations
Sept 2016 EU EAB regulations
Sept 2016 EU EAB regulations
