Major Group SIC 24 - Lumber And Wood Products, Except Furnit...

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SIC 24 - Lumber And Wood Products, Except Furniture

SIC 24 - Lumber And Wood Products, Except Furniture
SIC 01 - Agricultural Production Crops SIC 02 - Agricultural Production Livestock And Animal Specialties SIC 07 - Agricultural Services SIC 08 - Forestry SIC 09 - Fishing, Hunting, And Trapping SIC 10 - Metal Mining SIC 12 - Coal Mining SIC 13 - Oil And Gas Extraction SIC 14 - Mining And Quarrying Of Nonmetallic Minerals, Except Fuels SIC 15 - Building Construction General Contractors And Operative Builders SIC 16 - Heavy Construction Other Than Building Construction Contractors SIC 17 - Construction Special Trade Contractors SIC 20 - Food And Kindred Products SIC 21 - Tobacco Products SIC 22 - Textile Mill Products SIC 23 - Apparel And Other Finished Products Made From Fabrics And Similar Materials SIC 24 - Lumber And Wood Products, Except Furniture SIC 25 - Furniture And Fixtures SIC 26 - Paper And Allied Products SIC 27 - Printing, Publishing, And Allied Industries SIC 28 - Chemicals And Allied Products SIC 29 - Petroleum Refining And Related Industries SIC 30 - Rubber And Miscellaneous Plastics Products SIC 31 - Leather And Leather Products SIC 32 - Stone, Clay, Glass, And Concrete Products SIC 33 - Primary Metal Industries SIC 34 - Fabricated Metal Products, Except Machinery And Transportation Equipment SIC 35 - Industrial And Commercial Machinery And Computer Equipment SIC 36 - Electronic And Other Electrical Equipment And Components, Except Computer Equipment SIC 37 - Transportation Equipment SIC 38 - Measuring, Analyzing, And Controlling Instruments Photographic, Medical And Optical Good SIC 39 - Miscellaneous Manufacturing Industries SIC 40 - Railroad Transportation SIC 41 - Local And Suburban Transit And Interurban Highway Passenger Transportation SIC 42 - Motor Freight Transportation And Warehousing SIC 44 - Water Transportation SIC 45 - Transportation By Air SIC 46 - Pipelines, Except Natural Gas SIC 47 - Transportation Services SIC 48 - Communications SIC 49 - Electric, Gas, And Sanitary Services SIC 50 - Wholesale Trade-durable Goods SIC 51 - Wholesale Trade-non-durable Goods SIC 52 - Building Materials, Hardware, Garden Supply, And Mobile Home Dealers SIC 53 - General Merchandise Stores SIC 54 - Food Stores SIC 55 - Automotive Dealers And Gasoline Service Stations SIC 56 - Apparel And Accessory Stores SIC 57 - Home Furniture, Furnishings, And Equipment Stores SIC 58 - Eating And Drinking Places SIC 59 - Miscellaneous Retail SIC 60 - Depository Institutions SIC 61 - Non-depository Credit Institutions SIC 62 - Security And Commodity Brokers, Dealers, Exchanges, And Services SIC 63 - Insurance Carriers SIC 64 - Insurance Agents, Brokers, And Service SIC 65 - Real Estate SIC 67 - Holding And Other Investment Offices SIC 70 - Hotels, Rooming Houses, Camps, And Other Lodging Places SIC 72 - Personal Services SIC 73 - Business Services SIC 75 - Automotive Repair, Services, And Parking SIC 76 - Miscellaneous Repair Services SIC 78 - Motion Pictures SIC 79 - Amusement And Recreation Services SIC 80 - Health Services SIC 81 - Legal Services SIC 82 - Educational Services SIC 83 - Social Services SIC 84 - Museums, Art Galleries, And Botanical And Zoological Gardens SIC 86 - Membership Organizations or Unions And Similar Labor Organizations SIC 87 - Engineering, Accounting, Research, Management, And Related Services SIC 89 - Services, Not Elsewhere Classified SIC 96 - Administration Of Economic Programs

This major group includes establishments engaged in cutting timber and pulpwood; merchant sawmills, lath mills, shingle mills, cooperage stock mills, planing mills, and plywood mills and veneer mills engaged in producing lumber and wood basic materials; and establishments engaged in manufacturing finished articles made entirely or mainly of wood or related materials. Certain types of establishments producing wood products are classified elsewhere. For example, furniture and office and store fixtures are classified in Major Group 25; musical instruments, toys and playground equipment, and caskets are classified in Major Group 39. Woodworking in connection with construction, in the nature of reconditioning and repair, or performed to individual order, is classified in nonmanufacturing industries. Establishments engaged in integrated operations of logging combined with sawmills, pulp mills, or other converting activity, with the logging not separately reported, are classified according to the primary product shipped.

Industry trends:

The lumber and wood products industry, classified under NAICS 24, is experiencing significant shifts driven by various factors. One of the critical qualitative trends is the increasing demand for sustainably sourced wood. Consumers and businesses are prioritizing eco-friendly materials, pushing companies to adopt sustainable forestry practices and obtain certifications such as FSC (Forest Stewardship Council).

Another trend is the rapid advancement in technology, particularly in the areas of automation and digitalization. Smart sawmills equipped with IoT sensors and advanced data analytics are optimizing production efficiency and reducing waste. This trend is expected to continue, leading to higher productivity and cost savings for industry players.

The industry is also seeing a growing interest in engineered wood products, such as cross-laminated timber (CLT) and glulam. These products offer superior strength and versatility, making them attractive for modern construction projects. The shift towards urbanization and sustainable building practices is likely to boost the demand for engineered wood products in the near future.

Additionally, geopolitical factors and trade policies are influencing the market dynamics. Tariffs and trade restrictions can impact the supply chain, leading to fluctuations in lumber prices. Companies are diversifying their sources and exploring new markets to mitigate these risks.

Looking ahead, the lumber and wood products industry is forecasted to experience steady growth, driven by the ongoing recovery in the housing market and increased infrastructure spending. However, companies will need to navigate challenges related to sustainability, technological adoption, and geopolitical uncertainties to capitalize on these opportunities.

This industry is comprised of:

SIC 241 - Logging

SIC 242 - Sawmills And Planing Mills

SIC 243 - Millwork, Veneer, Plywood, and Structural Wood Members

SIC 244 - Wood Containers

SIC 245 - Wood Buildings And Mobile Homes

SIC 249 - Miscellaneous Wood Products

Explore related industries:

SIC 08 - Forestry SIC 25 - Furniture And Fixtures SIC 26 - Paper And Allied Products

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