{"id":236831,"date":"2018-07-03T09:42:06","date_gmt":"2018-07-03T09:42:06","guid":{"rendered":"http:\/\/www.abnewswire.com\/pressreleases\/?p=236831"},"modified":"2018-07-03T09:42:06","modified_gmt":"2018-07-03T09:42:06","slug":"balsa-wood-market-global-industry-is-all-set-to-witness-huge-growth-at-a-cagr-of-589-with-usd-21723-million-during-20182023","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/balsa-wood-market-global-industry-is-all-set-to-witness-huge-growth-at-a-cagr-of-589-with-usd-21723-million-during-20182023_236831.html","title":{"rendered":"Balsa Wood Market Global Industry is all set to witness Huge Growth at a CAGR of 5.89 % with USD 217.23 million during 2018-2023"},"content":{"rendered":"
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“Global Balsa Wood 2018 Market Size, Share and Growth Analysis Research Report 2023”<\/div>\n<\/div>\n<\/div>\n
The Global Balsa Wood Market Report 2018 is a professional and in-depth study on the current state of the Balsa Wood industry. The report provides a basic overview of the market status and forecast of global and major regions, with introduction of vendors, regions, product types and end industries; The Balsa Wood industry analysis is provided for the international markets including product types and end industries in global and major regions.<\/div>\n

Market Highlights:<\/strong><\/p>\n

Global balsa wood market was valued at USD 146.53 million in 2016 and is expected to grow at 5.89% CAGR to reach USD 217.26 million by the end of 2023<\/strong><\/p>\n

The balsa wood market is gaining traction across the globe, owing to the low density of wood, making balsa the lightest commercial timber available in the market. By type, ‘Grain B’ segment has accounted for a larger market share due to its combine property of ‘Grain A’ and ‘Grain C’ type of wood. ‘Grain C’ type on balsa market is estimated to grow at CAGR of 5.88%, during the forecast period as it is regarded as the most aesthetically pleasing.<\/p>\n

Balsa (Ochroma Pyramidale) is one of the fastest growing wood species, reaching about 20 m in height and up to 75 cm in diameter in just 5-8 years. Most of the Balsa Wood used commercially is harvested from plantations, particularly from Ecuador and Papua New Guinea. Because of its fast growth, the wood density is very low, making Balsa the lightest commercial timber available in the market. Based on the appearance of grain in wood, they are categorized as ‘Grain A’, ‘Grain B’ and ‘Grain C’ types. ‘Grain B’ type of balsa wood is majorly used in the world and accounts for the largest market share of 41.0% as of 2016. <\/p>\n

Major Players <\/strong>in the global balsa wood market includes:<\/strong><\/p>\n