BACKGROUND

The global timber and engineered wood industry is undergoing a transformative phase, driven by the demand for sustainable construction materials, cost effective building solutions, and innovative manufacturing technologies. Bangladesh, with its growing real estate, furniture, and infrastructure sectors, is poised to emerge as a key player in the regional timber and wood-tech market.

The global timber industry was valued at over USD 600 billion in 2023, with the engineered wood segment alone projected to reach USD 478 billion by 2032, growing at a CAGR of 7.2%. This growth is driven by rising demand for sustainable construction, prefabricated housing, and green building practices. Countries in Europe, North America, and Southeast Asia are leading investments in mass timber, CLT, and AI-driven wood production technologies.

Bangladesh imports over USD 600 million worth of timber and wood-based products annually, with key uses in construction, interior design, furniture, and packaging. The domestic furniture market is valued at over USD 2.2 billion and growing at 12% per year, while exports from this sector reached USD 110 million in FY2023. The shift toward eco-friendly, engineered, and modular wood solutions is being supported by the government’s push for sustainable urban development and smart housing.