According to a new market intelligence report by DataIntelo, the global lumber market is expected to grow significantly, rising from USD 315.2 billion in 2023 to USD 489.7 billion by 2032, at a CAGR of 5.1% over the forecast period. Increased demand from the construction sector and growing emphasis on sustainable building practices are major market drivers. The market is witnessing strong traction due to rising infrastructure development, especially in emerging economies. Demand for engineered wood and prefabricated construction components is also fueling lumber consumption. Additionally, the shift toward eco-friendly and renewable construction materials is creating new opportunities for the lumber industry.