ABARES releases Wood Volumes Analysis

Last month’s publication of the Wood Volumes Analysis indicates Australia has reliable access to structural forest and wood products to meet future demand. The report provides an analysis of the long-run supply of and domestic demand for wood products in Australia, particularly those used in construction.

Executive Director of ABARES Dr Jared Greenville said that the findings reflect the diverse timber supply available to Australians and that demand is likely to continue to increase. “Timber is a valuable resource, widely used in Australia’s construction sector,” Dr Greenville said.

Demand for construction related timber is expected to grow by about 50% by 2050 as the population increases, but the final volume will vary depending on our future preferences for housing types, with some houses using more timber than others.

On the supply side, the report indicates that Australia’s domestic log availability is projected to increase by approximately 70% through to 2055 ─ with a record availability of 16.8 million cubic metres per year of softwood sawlogs for residential construction in 2050-2054.

“Australian plantation managers are working hard to maintain and optimise log availability, and they are working alongside mills to increase the output and variety of timber products available to the domestic market,” Dr Greenville said.

International markets have been crucial to meet wood demand, particularly in times of short-run growth.

“The long-term nature of forestry production can mean that pressure is placed on supply if there is a short-run surge in demand. In those times, access to international markets has provided access to key wood product supplies, helping maintain the momentum in domestic construction,” Dr Greenville said.

Global markets are expected to continue to be a reliable source in the future, despite the disruptions seen through COVID, when global freight was delayed. With strong global log availability and advances in technology and innovation we are expecting global trade in forest and wood products to continue.

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Source & image credit: ABARES