4 Hardwood Lumber Species With Demand, Prices on the Rise in 2018
As mid-year approaches, prices are on the rise for some of the industry’s top hardwood lumber species, according to an article from our friends at the Woodworking Network regarding a recent report from Forecon Inc. Reasons for the increases range from the good (increasing demand), the bad (concerns about resources) and the ugly (market uncertainty due to the influence of Asian markets and looming tariffs), and at times, a combination of all three. Which species are on the rise? And why? Let’s break it down together:
Top 4 Hardwood Lumber Species for Demand and Rising Prices:
- Ash Lumber: While Ash lumber pricing has steadied, this species is now at one of its highest price levels ever. Despite concerns about the emerald ash borer damaging ash timber resources, the supply of ash stumpage has been plentiful due to the continued acceleration of harvests and demand remains as strong as ever, both internationally and domestically.
- Cherry: Another species on the rise is cherry, which is seeing higher demand, especially from export markets. Demand in the domestic market is also seeing an increase.
- Hard Maple: There is continuing strong demand for hard maple, especially green lumber (not kiln-dried). Reports indicate a notable increase in demand from cabinet manufacturers. This is another case where strong export demand, especially in Asia, continues to boost the price. At Contact Industries’, we’re proud to support cabinet and furniture OEMs with our veneered product solutions. Any species of wood veneer, including Hard Maple, can be profile wrapped over a variety of substrates. Plus, we help to make manufacturing processes faster and more efficient, helping our cabinet OEM partners clear up production bottlenecks or avoid investments in new processes or equipment.
- Red Oak: Red oak demand remains steady, with domestic interest offsetting the slight downturn in international (primarily Asian) demand. Red oak has continuously proven to be one of the steadiest and strongest species of all, setting record export levels in volume and dollars this past year. Predictions suggest sustained high prices for oak, possibly climbing even higher into the summer months. With our profile wrapping and flat lamination capabilities, our partners can more easily source and efficiently produce a variety of products with the authentic appearance of this beautiful species, while utilizing a variety of substrates.
Combatting Price Increases:
How do you combat rising material prices while delivering hardwood species in increasingly high demand? Whether delivering door and window products, cabinets, ceiling panels, stair components, or store and office fixtures, we work with our partners to help them combat costs while delivering the authentic beauty of highly-demanded hardwood species via our profile wrapping and/or flat lamination capabilities.
With a wide range of capabilities that typically go well beyond our customers’ own in-house capabilities, we are able to help OEM customers reduce manufacturing costs while expanding product offerings. Learn more here.