Structural Engineered Wood Products in the Pacific Rim and Europe:

Structural Engineered Wood Products in the Pacific Rim and Europe: 2009 2013 The markets for laminated veneer lumber (LVL), laminated strand lumber (LSL), glue laminate beams (glulam) and I-joists are in the early stages of the product life cycle. While the global economic and financial crisis has had a negative impact on production and consumption, the forthcoming upturn will present significant opportunities for market and industry development in North America, Australasia, Europe, Russia and North Asia. Extract to indicate the general nature of the report FORESTRY

Contents EXECUTIVE SUMMARY...i 1. INTRODUCTION...1 1.1 Product descriptions...3 1.1.1 Laminated veneer lumber...3 1.1.2 Parallel strand lumber...4 1.1.3 Oriented strand lumber/laminated strand lumber...4 1.1.4 Engineered strand lumber...4 1.1.5 Glue laminated lumber...4 1.1.6 Wooden I-joists...5 1.2 Industry developments...5 1.3 Objectives...6 1.4 Methodology...6 1.5 Organisation of report...7 2. NORTH AMERICA...9 2.1 Economic forecasts, North America...11 2.1.1 United States...11 2.1.2 Canada...12 2.2 Building industry forecast, North America...13 2.2.1 United States...14 2.2.2 Canada...14 2.3 The forest industry and resource base, North America...14 2.3.1 United States...14 2.3.2 Canada...15 2.4 Structural engineered wood products industry overview, North America...16 2.4.1 Laminated veneer lumber production facilities, North America...17 2.4.2 I-joist production facilities, North America...20 2.4.3 Glue laminated lumber production facilities, North America...22 2.4.4 Laminated strand lumber, oriented strand lumber and parallel strand lumber production facilities, North America...23 2.5 Production of structural engineered wood products, North America...25 2.5.1 Laminated veneer lumber production forecasts...25 2.5.2 I-joist production forecasts...26 2.5.3 Glue laminated lumber production forecasts...28 2.6 Consumption of structural engineered wood products, North America...29 2.6.1 Laminated veneer lumber consumption forecasts...30 2.6.2 I-joist consumption forecasts...31 2.6.3 Glue laminated lumber consumption forecasts...32

2.7 Exports and imports of structural engineered wood products, North America...34 2.7.1 LVL exports and imports...34 2.7.2 I-joist exports and imports...34 2.7.3 Glulam exports and imports...34 2.8 Capacity utilisation...35 2.8.1 LVL capacity utilisation...36 2.9 Cost of production...36 2.10 Price forecasts, engineered wood products, North America...37 2.10.1 LVL prices, North America...37 2.10.2 I-joist prices, North America...38 2.10.3 Glulam prices, North America...39 2.11 Product characteristics, North America...39 2.11.1 Wood species, North America...39 2.11.2 Resins, North America...39 2.11.3 Product dimensions, North America...39 2.11.4 Product performance, North America...40 2.12 End uses...40 2.12.1 LVL end uses, North America...40 2.12.2 I-joist end uses, North America...41 2.12.3 Strand lumber end uses, North America...41 2.12.4 Glulam end uses, North America...42 2.13 Potential new applications...42 2.14 New product developments...43 2.14.1 Hardwood LVL...43 2.14.2 Scrimber...43 2.14.3 Delta strand...43 2.14.4 Glulam...43 2.15 Distribution channels...43 2.15.1 LVL and I-joists...43 2.15.2 Glulam...45 2.16 Product promotion...45 3. AUSTRALASIA...47 3.1 Economic forecast, Australasia...49 3.1.1 Australia...49 3.1.2 New Zealand...50 3.2 Building industry forecast, Australasia...51 3.2.1 Australia...51 3.2.2 New Zealand...52

3.3 The forest industry and resource base, Australasia...53 3.3.1 Australia...53 3.3.2 New Zealand...54 3.4 Production facilities, Australasia...54 3.4.1 Laminated veneer lumber production facilities...54 3.4.2 I-joist production facilities...56 3.4.3 Glulam production facilities...56 3.4.4 Strand lumber production facilities...58 3.5 Production of engineered wood products in Australasia...59 3.5.1 Production of LVL...60 3.5.2 Production of I-joists...61 3.5.3 Production of glulam...61 3.6 Consumption of engineered wood products, Australasia...62 3.6.1 Consumption of LVL...62 3.6.2 Consumption of I-joists...64 3.6.3 Consumption of glulam...65 3.7 Imports and exports of engineered wood products, Australasia...65 3.7.1 Imports and exports of LVL...66 3.7.2 Imports and exports of I-joists...66 3.7.3 Imports and exports of glulam...66 3.8 Cost of production...67 3.9 Product pricing...69 3.10 Product and quality characteristics, Australasia...71 3.10.1 Wood species and resins, Australasia...71 3.10.2 Product dimensions, Australasia...71 3.10.3 Product performance, Australasia...71 3.11 End uses...73 3.11.1 Building applications using engineered wood products...73 3.11.2 Potential new applications...74 3.12 Distribution channels...74 3.13 Product promotion...75 4. EUROPE...77 4.1 Economic forecast, Europe...79 4.2 Building industry forecast, Europe...80 4.3 Resource base and forest industry overview...81 4.3.1 Finland...81 4.3.2 Austria...82 4.3.3 Sweden...83 4.3.4 Germany...83 4.3.5 Russia...84

4.4 Production facilities...85 4.4.1 Laminated veneer lumber...85 4.4.2 I-joists...86 4.4.3 Glulam...87 4.5 Production...91 4.5.1 Laminated veneer lumber...91 4.5.2 I-joists...92 4.5.3 Glulam...93 4.6 Consumption...94 4.6.1 Laminated veneer lumber...95 4.6.2 I-joists...96 4.6.3 Glue laminated beams...96 4.7 Exports and imports...97 4.7.1 Laminated veneer lumber...97 4.7.2 I-joists...98 4.7.3 Glue laminated beams...98 4.8 Cost of production...99 4.8.1 LVL and I-joists...99 4.8.2 Glulam...99 4.9 Price forecasts, engineered wood products, Europe... 100 4.9.1 LVL prices, Europe... 100 4.9.2 I-joist prices, Europe... 101 4.9.3 Glulam prices, Europe... 102 4.10 End uses... 103 4.10.1 The United Kingdom... 104 4.10.2 Western Europe... 104 4.10.3 Scandinavia... 105 4.11 Product characteristics, Europe... 105 4.11.1 Wood species... 105 4.11.2 Resins... 105 4.11.3 Product performance... 106 4.11.4 Product dimensions... 106 4.12 Distribution channels... 106 4.13 Product promotion... 108 5. NORTH ASIA...109 5.1 Economic forecast, North Asia... 111 5.1.1 China... 111 5.1.2 Japan... 112

5.2 Building industry forecast... 113 5.2.1 China... 113 5.2.2 Japan... 115 5.3 Resource base and forest industry overview... 116 5.3.1 China... 116 5.3.2 Japan... 117 5.4 Production Facilities... 119 5.4.1 Laminated veneer lumber and I-joist production facilities... 119 5.4.2 Glue laminated lumber production facilities... 123 5.5 Production... 126 5.5.1 Japan... 126 5.5.2 China... 130 5.6 Consumption... 131 5.6.1 Japan... 131 5.6.2 China... 133 5.7 Exports and imports... 135 5.7.1 Japan... 135 5.7.2 China... 137 5.8 Cost of production... 138 5.9 Product pricing... 138 5.9.1 Japan... 138 5.9.2 China... 140 5.10 End uses... 141 5.10.1 Japan... 141 5.10.2 China... 142 5.11 Product characteristics... 143 5.11.1 Wood species... 143 5.11.2 Resins... 143 5.11.3 Product performance... 144 5.12 Distribution channels... 144 5.13 Product promotion... 145 6. SOUTH EAST ASIA...147 6.1 Economic forecast, Southeast Asia... 149 6.1.1 Indonesia... 149 6.1.2 Malaysia... 150 6.2 Building industry forecast, Southeast Asia... 150 6.2.1 Indonesia... 150 6.2.2 Malaysia... 151

6.3 The forest industry and resource base, Southeast Asia... 152 6.3.1 Indonesia... 152 6.3.2 Malaysia... 153 6.4 Production of LVL in Southeast Asia... 154 6.4.1 Indonesia and Malaysia... 154 6.4.2 Timber species utilised... 155 6.5 Production and consumption of LVL... 155 6.6 Potential for glulam and I-joist production in Southeast Asia... 156 7. SOUTH AMERICA...157 7.1 Economic forecast, South America... 159 7.1.1 Brazil... 159 7.1.2 Chile... 160 7.2 Building industry forecast, South America... 161 7.3 The forest industry and resource base, South America... 162 7.3.1 Brazil... 162 7.3.2 Chile... 163 7.4 Potential for producing structural engineered wood products in South America... 163 7.4.1 Chile... 163 7.4.2 Brazil... 164

Tables I Real GDP forecasts, selected countries, 2004 2013... iii II Housing construction forecasts, selected regions, 2004 2013...iv III Global production of engineered wood products: 2004 2013...v IV Production of structural LVL by region, 2004 2013...vi V Production of I-joists by region, 2004 2013... vii VI Production of glulam by region, 2004 2013... viii VII Global consumption of structural engineered wood products, 2004 2013...x VIII Consumption of structural LVL by region, 2004 2013...x IX Consumption of I-joists by region, 2004 2013...xi X Consumption of glulam by region, 2004 2013... xii XI Exports and imports of glulam, United States and Canada, 2004 2013...xv XII Net exports of LVL, glulam and I-joists, Australasia, 2004 2013... xvi XIII Export capacity and net exports, LVL, Europe, 2004 2013... xvii XIV Net exports, I-joists, Europe, 2004-2013...xviii XV Export capacity and net exports, glulam, Europe, 2004 2013...xviii XVI Imports of structural glulam by country of origin, Japan, 2004 2008... xix XVII Imports of glulam, Japan, 2004 2013...xx XVIII Exports of LVL and glulam, China, 2004 2013... xxi XIX Price forecasts, structural LVL 2004 2013... xxii XX Price forecasts, I-joists, 2004 2013...xxiii XXI Price forecasts, glulam, 2004 2013... xxiv 2.1 Economic forecast, United States, 2004 2013...11 2.2 Economic forecast, Canada, 2004 2013...12 2.3 Housing commencements, North America, 2004 2013...13 2.4 LVL manufacturers share of production capacity, North America, 2008...17 2.5 Laminated veneer lumber production facilities North America, 2008...18 2.6 I-joist production facilities, North America, 2008...21 2.7 Glue laminated lumber production facilities, North America, 2008...22 2.8 Timberstrand (LSL), parallam (PSL) & oriented strand lumber (OSL) production facilities, North America, 2008...24 2.9 North American production of laminated veneer lumber, 2004 2013...26 2.10 North American production of I-joists, 2004 2013...27 2.11 North American production of glue laminated beams, 2004 2013...28 2.12 North American consumption of laminated veneer lumber, 2004 2013...30 2.13 North American consumption of I-joists, 2004 2013...32 2.14 North American consumption of glue laminated beams, 2004 2013...33 2.15 Exports and imports of glulam, United States and Canada, 2004 2013...35 2.16 Capacity utilization, export capacity and net exports, LVL, North America, 2004 2013...36 2.17 Cost of production, LVL, glulam, and I-joists, North America, 2008...37 2.18 LVL, glulam and I-joist prices, North America, 2004 2013...38 2.19 End Uses for LVL, glulam and I-joists, North America, 2008...40 3.1 Key economic indicators, Australia, 2004 2013...49 3.2 Key economic indicators, New Zealand, 2004 2013...50

3.3 Housing commencements, Australasia, 2004 2013...52 3.4 Laminated veneer Lumber production facilities, Australasia, 2008...55 3.5 I-joist production facilities, Australasia, 2008...56 3.6 Glulam production facilities, Australasia, 2008...57 3.7 OSL planned production facilities, Australia...58 3.8 Production of structural engineered wood products, Australasia, 2004 2013...59 3.9 Production, consumption, capacity utilization and exports, LVL Australasia, 2004 2013...60 3.10 Production, consumption and exports, I-joists, Australasia, 2004 2013...61 3.11 Production, consumption and exports, glulam, Australasia, 2004 2013...62 3.12 Consumption of Structural LVL, glulam and I-joists, Australasia, 2004 2013...63 3.13 Net exports of LVL, glulam and I-joists, Australasia, 2003 2012...65 3.14 Production Costs, Engineered Wood Products, Australasia, 2008...67 3.15 Mill door price ($AU) of structural engineered wood products, Australasia, 2004 2013...68 3.16 Mill door price ($US) of structural engineered wood products, Australasia, 2004 2013...70 3.17 Material use in housing applications, Australia, 2007...72 4.1 Economic forecast, Europe, 2004 2013...79 4.2 Housing completions, Europe, 2004 2013...80 4.3 LVL production facilities, Europe, 2008...86 4.4 I-joist production facilities, Europe, 2008...87 4.5 Glulam production facilities, Europe 2008...88 4.7 Production of LVL, glulam and I-joists, Europe, 2004 2013...91 4.8 Production, consumption, capacity utilization and exports, LVL, Europe, 2004 2013...92 4.9 Production, consumption and exports, I-joists, Europe, 2004 2013...93 4.10 Production, consumption, capacity utilization and exports, glulam, Europe, 2004 2013...94 4.11 Consumption of LVL, glulam and I-joists, Europe, 2004 2013...95 4.12 Export capacity and net exports, LVL, Europe, 2004 2013...97 4.13 Net exports, I-joists, Europe, 2004 2013...98 4.14 Export capacity and net exports, Glulam, Europe, 2004 2013...98 4.15 Exports of glulam by European countries to Japan, 2004 2008...99 4.16 LVL prices, Europe, 2004 2013... 101 4.17 I-joist prices, Europe, 2004 2013... 102 4.18 Glulam beam prices, Europe, 2004 2013... 103 4.19 Glulam distribution Europe: 2000 and 2008... 108 5.1 Economic forecast, China, 2004 2013... 111 5.2 Economic forecast, Japan, 2004 2013... 112 5.3 Housing commencements, North Asia, 2004 2013... 114 5.4 Log imports by country of origin, China, 2006 2008... 116 5.5 Laminated veneer lumber producers by location and production capacity, Japan, 2008... 119 5.6 I-joist producers, Japan, 2008... 120 5.7 Major laminated veneer lumber producers, China, 2008... 121 5.8 Other laminated veneer lumber producers, China, 2008... 122 5.9 I-joist producers, China, 2008... 123 5.10 Glulam producers, Japan, 2008... 124 5.11 Major structural glulam producers, China, 2008... 124 5.12 Production of structural LVL, glulam and I-joists, Japan, 2004 2013... 125 5.13 Production, consumption, capacity utilization and exports, structural LVL, Japan, 2004 2013. 126

5.14 LVL production, Japan, 2004 2013... 127 5.15 Structural and non-structural glulam production, Japan, 200 2013... 128 5.16 Structural glulam production by type, Japan, 2002 2006... 129 5.17 Production of LVL, glulam and I-joists, China, 2004 2013... 130 5.18 Consumption of Structural LVL and glulam, Japan, 2004 2013... 131 5.19 Consumption of LVL, Japan, 2004 2013... 132 5.20 Production, consumption and imports, structural glulam, Japan, 2004 2013... 133 5.21 Consumption of LVL, glulam and I-joists, China, 2004 2013... 134 5.22 Imports of glulam, Japan, 2004 2013... 135 5.23 Imports of structural glulam by country of origin, Japan, 2004 2008... 136 5.24 Exports of LVL and glulam, China, 2004 2013... 137 5.25 Glulam and LVL Prices, Japan, 2004 2013... 139 5.26 LVL, glulam and I-joist prices, China 2004 2013... 140 6.1 Key economic indicators, Indonesia, 2004 2013... 149 6.2 Key economic indicators, Malaysia, 2004 2013... 150 6.3 Housing construction, Southeast Asia, 2004 2013... 151 6.4 LVL production facilities, South East Asia, 2008... 154 7.1 Key economic indicators, Brazil, 2004 2013... 160 7.2 Key economic indicators, Chile, 2004 2013... 161 Charts 2.1 Product life cycle...16 2.2 LVL manufacturers share of production capacity, North America, 2008...19 2.3 Distribution system for LVL, I-joists and glulam in North America...44 3.1 Estimated variable production costs for LVL, Australasia, 2008...69 3.2 Distribution system for LVL, I-joists and glulam in Australia...75 5.1 Distribution system for LVL and glulam in Japan... 144 Figures 1 Application of engineered wood products to the first floor of a residential house...3 2 Parallel strand lumber...4 3 Engineered wood products, LVL, OSL and I-joists...5

Introduction Structural Engineered Wood Products in the Pacific Rim and Europe 2009 2013 1. INTRODUCTION This is the fourth edition of Engineered Wood Products in the Pacific Rim and Europe. The study has evolved from our original focus on laminated veneer lumber, to a more comprehensive assessment of structural engineered wood products, including laminated veneer lumber (LVL), I-joists and glue laminated lumber (glulam) in each of the key producing and consuming countries. The study assesses trends and prospects for demand, supply, investment and trade for each of these products. It complements the first edition of our study Oriented Strand Board (OSB) and Lumber (OSL) in the Pacific Rim and Europe: 2008-2012. 1.1 Product descriptions Products such as glue laminated beams have been common in many markets for over 100 years, with their origins said to date back several centuries. However, most other engineered wood products have emerged over the past three decades as alternatives to the dwindling supplies of heavy structural solid sawn timber. Other factors that have influenced the growth in the use of engineered wood products include cost and superior performance. The following provides a brief description of some of the major engineered wood products. 1.1.1 Laminated veneer lumber (LVL) LVL is an engineered wood composite produced from rotary peeled veneers, glued together with grain orientated along the length of the panel. It is similar to plywood, although the grain of adjacent layers of veneer is typically aligned in the same direction, unlike plywood which has alternative layers aligned at right angles. The panel is then resawn into sawn timber dimensions. LVL will compete with sawn timber where either high strength is required, in particular in longer lengths, or where stability is an important component. LVL is commonly used in I-joist manufacture where it offers superior strength and stability over traditional sawn timber. Figure 1: Application of engineered wood products to the first floor of a residential house OSB I-Joist LVL Parallel Strand Lumber Courtesy of APA-EWS 3

Structural Engineered Wood Products in the Pacific Rim and Europe 2009 2013 Introduction 1.1.2 Parallel strand lumber (PSL) (Parallam ) PSL is manufactured from long strands of veneer, between 60 cm (2 ft) and 2.4 m (8 ft) in length, with the strips pressed and glued together into large dimension beams. The product is very strong and used in applications such as headers and beams. It is currently only manufactured by Weyerhaeuser (TrusJoist) in the United States and Canada. 1.1.3 Oriented strand lumber/laminated strand lumber (OSL/LSL) (TimberStrand ) Figure 2: Parallel Strand Lumber (Parallam) Courtesy of APA-EWS OSL and LSL are similar products and are also similar to oriented strand board (OSB). In the production of OSL and LSL panels, chips are aligned in the same direction and, like LVL, the panel is resawn into lumber sized dimensions. OSL and LSL are differentiated by the dimensions of the constituent strands. PSL and LSL require the length of strands to be a minimum of 150 times the least dimension of the strand. The average length of the OSL strand needs to be between 75 and 150 times the least dimension. Timberstrand reportedly conforms to the LSL specification. Both LSL and OSL can be used in a wide range of applications including timber framing and utilise species such as aspen and poplar that are not generally suitable for the production of solid timber products. 1.1.4 Engineered strand lumber (ESL) ESL is a new product currently being developed by Lignor in Australia. The product is similar to LSL and OSL, but will be manufactured from eucalypt and will have longer strands. It is expected to be a special product with high strength characteristics, and inherent, water and termite resistant characteristics, while the strength, water and termite resistance of LSL and OSL will depend on the type of resource that is used. A wide range of strength and durability characteristics are likely to emerge in these products over the next decade. 1.1.5 Glue laminated lumber (Glulam) Glulam consists of sawn timber shorts, usually without defect, finger-jointed and face-glued to produce large dimension beams. The finger-joints and use of defect free timber provide a high strength product, usually superior to sawn timber of the same species. The process also allows for the production of large dimensional timber and very long spans. As well as heavy structural applications glulam can be curved and is often used for appearance applications, or in situations such as exposed beams that take advantage of both the structural and appearance qualities of the product. 4

Introduction Structural Engineered Wood Products in the Pacific Rim and Europe 2009 2013 1.1.6 Wooden I-joists Wooden I-joists are manufactured by combining a flange, of LVL, solid timber, or strand lumber, and a web, of OSB or plywood. The top and bottom chord/flange typically has dimensions of 40mm to 65 mm. The depth of the joist is determined by the width of the web, with the depth typically ranging between 150 mm and 450 mm. The use of strand lumber in the flange of I-joists has the potential to increase strongly in the next few years, as new strand lumber facilities are developed in North America, Europe, Australasia and possibly China. This may enable the production of an I-joist with the flange and the web made of the same material, as strand lumber and OSB are manufactured using a similar process. 1.2 Industry developments Courtesy of APA-EWS Figure 3: Engineered wood products LVL, OSL and I-joists There has been considerable change in the industry over the past decade. The industry in North America consolidated in the late 1990 s and the early part of the new century, with very limited addition to production capacity from 2005 to 2008. Despite the lack of new production facilities over this period, consumption continued to strengthen until the recent sub-prime mortgage crisis and the ensuing economic and housing construction slump in the United States. While much of the overcapacity that was weighing down the industry had been absorbed by 2007, with high capacity utilisation rates, the subsequent downturn has resulted in significant overcapacity, which will need to be absorbed quickly during the forthcoming upturn if capacity is to expand further. The LVL and glulam industries will also need to compete with the development and expansion of strand lumber over the forecast period, while the I-joist industry will have the option of incorporating strand lumber as a competing product to LVL and solid timber. Production capacity of LVL and I-joists in Australasia has expanded rapidly over the past decade, and the past three years has been characterized by the absorption of new capacity and growth in imports. Growth in production capacity and consumption in Australasia will likely strengthen over the next five years, as the economy and construction industry moves into an upswing following the current cyclical low. The prospect of increased exports will contribute to a more positive environment for expansion in production capacity, as will constraints on the availability of domestically produced sawn timber. The development of strand lumber will compete with LVL and glulam for market share, and is a potential product to incorporate into I- joists. By 2005, Europe had absorbed much of its available LVL production capacity, and there has been considerable expansion in Finland in 2004 and 2005, and more recently in Germany and Russia. There has also been considerable expansion in I-joist and glulam production capacity since 2006, and a restructuring of the industry. Following the current downturn in housing construction, there will be further opportunities to expand production capacity. 5

Structural Engineered Wood Products in the Pacific Rim and Europe 2009 2013 Introduction While the current economic and housing downturn has created a climate of uncertainty, the underlying fundamentals suggest that over the longer term, there will be significant potential to expand I-joist capacity, and the capacity to produce products such as LVL and OSL. Much of the increase in glulam production capacity has been targeted at Japan. Exports of glulam to Japan grew rapidly in the three years to 2007, but have more recently been subdued. The market for LVL in Japan has been relatively flat over the past five years, and is likely to remain so over the next five years. While glulam consumption in Japan grew rapidly in the three years to 2007, the market has become very competitive, with the increased availability of glulam from exporters in Europe. 1.3 Objectives The main purpose of this report is to provide an assessment of the global prospects for LVL, I-joists and glulam, to allow companies to make informed decisions with respect to production, trade and investment. The report aims to: Forecast demand and supply of LVL, I-joists and glulam, taking into account the expanding market share of these products in key end use applications; Identify the existing players in the industry Identify key end use applications within each of the main consuming countries and the potential to increase consumption within these applications by substitution for other materials; Identify potential new applications for LVL, I-joists and glulam within each of the key consuming countries; Identify opportunities for investment in LVL, I-joist and glulam production capacity and the timing of investments to best take advantage of capacity utilisation requirements. 1.4 Methodology The general methodology used for this study is the product of 30 years of methods research and development by BIS Shrapnel, combined with the experience and background of the author. The report compiles both publicly available and private company data on the engineered wood products industry from a variety of sources. A key element of the methodology was the field research, which included interviews with major producers, industry associations, distributors, and research organisations in the key producing and consuming countries. These interviews, together with published data, provide the basis for the analysis and forecasts for the engineered wood products industry in each country. 6

Introduction Structural Engineered Wood Products in the Pacific Rim and Europe 2009 2013 1.5 Organisation of report The report is organised into chapters by six regions, including North America, Australasia, Europe, North Asia, Southeast Asia, and South America. The LVL, I-joist and glulam industries are analysed separately by country within each region. For each country the report provides economic and building industry trends and forecasts, an overview of the resource, and historical data and forecasts for production, consumption, and prices where they are available. The executive summary brings together the key conclusions and findings, and provides an interregional comparison and global overview of the industry. The regions and key countries are: North America: Canada, United States Australasia: Australia, New Zealand Europe: Finland, Germany, United Kingdom, France North Asia: Japan, China Southeast Asia: Malaysia, Indonesia, Vietnam South America: Chile, Brazil. 7