The wood industry or timber industry (sometimes lumber industry – when referring mainly to sawed boards) is the industry concerned with forestry, logging, timber trade, and the production of primary forest products and wood products (e.g. furniture) and secondary products like wood pulp for the pulp and paper industry. Some of the largest producers are also among the biggest owners of forest. The wood industry has historically been and continues to be an important sector in many economies.
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👉 Wood industry in the context of Industry (economics)
In microeconomics, an industry is a branch of an economy that produces a closely related set of raw materials, goods, or services. For example, one might refer to the wood industry or to the insurance industry.
When evaluating a single group or company, its dominant source of revenue is typically used by industry classifications to classify it within a specific industry. For example the International Standard Industrial Classification (ISIC) – used directly or through derived classifications for the official statistics of most countries worldwide – classifies "statistical units" by the "economic activity in which they mainly engage". Industry is then defined as "set of statistical units that are classified into the same ISIC category". However, a single business need not belong just to one industry, such as when a large business (often referred to as a conglomerate) diversifies across separate industries.
In this Dossier
Wood industry in the context of Deforestation
Deforestation or forest clearance is the removal and destruction of a forest or stand of trees from land that is then converted to non-forest use. Deforestation can involve conversion of forest land to farms, ranches, or urban use. About 31% of Earth's land surface is covered by forests at present. This is one-third less than the forest cover before the expansion of agriculture, with half of that loss occurring in the last century. On average 2,400 trees are cut down each minute. Estimates vary widely as to the extent of deforestation in the tropics. In 2019, nearly a third of the overall tree cover loss, or 3.8 million hectares, occurred within humid tropical primary forests. These are areas of mature rainforest that are especially important for biodiversity and carbon storage.
The direct cause of most deforestation is agriculture by far. More than 80% of deforestation was attributed to agriculture in 2012. Forests are being converted to plantations for coffee, palm oil, rubber and various other popular products. Livestock grazing also drives deforestation. Further drivers are the wood industry (logging), urbanization and mining. The effects of climate change are another cause via the increased risk of wildfires (see deforestation and climate change).