Tue 15-03-2022 17:51 PM
DUBAI, 15th March, 2022 (WAM) -- Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, today inaugurated Dubai WoodShow 2022, which will run until 17th March at Dubai International Convention and Exhibition Centre, with the participation of 400 companies from 41 countries.
At the show, a huge number of machineries from Canadian, European, Chinese and American manufacturers were on display, targeting timber factories not only in the UAE but also other parts of the MENA region.
The show has attracted a number of end-users who are on the lookout for timber products that fit their requirements.
A large variety of traders, architects and decision-makers from the contracting, environment and other relevant sectors are visiting the show to look into the offerings of some of the world's premier companies in the field of wood and working machinery.
Some of the companies present at the event include American Hardwood, American Softwood, AIMMP, Pro Panama, Moscow Export Center, North Carolina, AZan Building Materials, Investment & Development Agency of Latvia, Malaysia Timber Council, French Timber, AIMSAD, QUBEC, Turkey Pavilion, China Pavilion, Cefla Middle East, German Tech Machinery, Industrial Machine Company, RG Export, SALCO Wood, Saleh International, Schattdecor, Elesgo, Egypt Panel Global, Modecor, Saudi Wood Production, Simplex, and Coast to Coast.
Dubai Woodshow data showed that the UAE's construction and development market is being forecasted to be valued at US$133.53 billion in 2026, which reflects a Compounded Annual Growth Rate (CAGR) of 4.6 percent in the next four years, further prompting industry experts to be bullish about the increased demand for luxury furniture products over the same period, which is expected to see a CAGR of 2.5 percent from 2021 to 2026.
The increasing number of construction and development projects in the country is playing a key role in driving up the demand for luxury furniture products. In addition, the government's move to roll out new initiatives aimed at developing the tourism and hospitality segments will also prove to be a significant factor in the growth of the luxury furniture segment.
Dawood Al Shezawi, President, Strategic Conferences and Exhibitions, organiser of the show, said, "Looking to make this year's show more exciting, we have added new additions to the event, including the 1st Innovations and Excellence Awards for the Wood and Woodworking Industry, a B2B Matchmaking Programme, and a Hosted Buyer Programme."