Market Information Service

Towards greater transparency in the tropical timber markets

The ITTO Tropical Timber Market (TTM) Report, an output of the ITTO Market Information Service (MIS), is published in English every two weeks with the aim of improving transparency in the international tropical timber market. The TTM provides market trends and trade news from around the world, as well as indicative prices for over 400 tropical timber and added-value products.


 

 

1-15 June 2017

Top story

Improving competitive environment for US wood flooring manufacturers

Imported wood flooring lost market share in the US in 2016 and US domestic flooring manufacturers can gain an advantage says the National Wood Flooring Association. In 2016 prices for imports increased by an average 9.6%. Prices of Chinese engineered wood flooring increased by more than 13% while US-made flooring prices declined 8%. China increasingly imports hardwoods from the US to make flooring for export. Higher US sawnwood prices and rising labour costs in China have undermined the competitiveness of Chinese flooring exports.


Also in this issue

  • Promoting investment in forestry – the ‘new forests for Africa’ initiative
  • Original furniture designs will generate higher returns says Malaysian Timber Board
  • Merger of databases in Indonesia to improve transparency
  • TTF/ABIMCI promote Brazil’s wood products in the UK
  • Chinese flooring makers hail anti-dumping decision in the US
  • Tropical timber imports down in nearly all EU markets
  • 12-storey CLT timber tower for Portland, USA       

             


Data snapshot

Millennials approach furnishing buying differently



 

Millennials became the largest consumer group in the US furniture market from 2014 and between 2010 and 2015 their spending on furniture more than doubled.

Millennials have a different approach to home furnishing compared to their parents; they prefer multifunctional and affordable furniture that suits their dynamic life style. US retailers have recognised these changes and are adapting marketing strategies to attract the ‘new’ consumer.

See: https://www.forbes.com/sites/deborahweinswig/2016/02/15/seismic-shift-to-millennials-driving-dramatic-changes-in-us-furniture-market/#3e424cf41cab

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