Page 9 - Tree Line - North Carolina Forestry Association - First Quarter 2024

4| Housing starts will be relatively strong in 2024, hanging between 1.3–1.5 million starts. In addition,
demand for engineered wood — CLT, glulam, I-Joists, and mass timber — will continue to build, underpinning sawlog demand.
5| Wood pellets and other forms of bioenergy are taking it on the chin right now. However, the long-term
prospects for the wood-pellets market remain strong. The arc
of renewables demand is long and has always been positive,
and this trend is expected to continue. The demand for wood pellets and their price stability are closely tied to the cost of alternative fossil fuels. Given the unpredictable nature of current geopolitical issues, it is likely that this relationship will remain the same in 2024. It might even become stronger.
The global supply chain and its ongoing influence on market dynamics will remain vital in shaping the future of the forest products industry. Although the economy in 2023 left much to be desired, we anticipate positive changes in the coming year and firmly believe that the forest products industry is on track for a promising journey in 2024.
ABOUT THE AUTHOR
Pete Stewart, a 27-year veteran
of the forest products industry, founded Forest2Market in
2000. Forest2Market is the only transaction-based wood-fiber pricing service in the industry. Through subsequent acquisitions and a partnership with Battery Ventures, Stewart expanded his role to become CEO of Forest2Market, Fisher International, and Tecnon OrbiChem—which were rebranded as ResourceWise. ResourceWise further expanded by acquiring Wood Resources International and PRIMA Markets in 2022 and Chemical Intelligence in 2023, broadening
its global reach and expertise. As the CEO of ResourceWise, Stewart identifies acquisition opportunities and works tirelessly to integrate new price-reporting companies and their employees into the ResourceWise family and culture.
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