NEWS

The plywood market grew to 15 million cubic meters in 2022 and is expected to reach 18.1 million cubic meters by 2028, a compound annual growth rate of 3.3%. One of the key factors driving the increase is the growing construction industry. In addition, plywood's versatility and ease of installation make it an ideal choice for interior paneling, cabinetry, furniture, and other decorative applications

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DHA and Hardwood Federation continue to advocate Congress include a grant in the farm bill that will educate the public on the value of carbon captured by hardwood products, as documented in USDA's carbon accounting programs. We will also continue to push to make temporary changes in tax rules permanent, including the ability to expense 100% of industrial equipment and the 20% deduction for small businesses, and to restore full deductibility of business expenses.

The U.S. Forest Service and Bureau of Land Management have completed the inventory of old and mature-growth forests that was mandated by the Biden administration. The inventory shows that there is no deficiency in forests managed by the two agencies: old-growth forests cover 18% of lands managed and mature forests cover 45%.

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Participants in the Kitchen Cabinet Manufacturers Association's monthly survey reported a nearly 13% drop in the volume of cabinet sales through May vs. last year, while year-to-date revenue increased by about 6.1%. Revenue in May alone, however, fell by 7.8% vs. April.

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KCMA: May Trend of Business Report

In May, DHA partnered with GreenCE, an online platform that provides education on sustainable design, to deliver our course that highlights the beauty, sustainability, and climate benefits of decorative hardwoods. By the end of June, more than 500 architects and designers had already completed the course, which qualifies for continuing education credit at the American Institute of Architects, American Institute of Building Design, and Green Building Certification.