A new member has been elected to APA – The Engineered Wood Association’s Board of Trustees.
John Beers III currently serves as the president of the structural panels business at Georgia-Pacific. As a panel industry veteran, John acquired a wealth of knowledge and experience over the past 23 years. He began his career in sales with Grant Forest Products in 2002, later joining Georgia-Pacific in 2010 as part of the Grant acquisition. He quickly moved up within the company, rising to president after just 13 years. Throughout his career, John has worked on all levels of the supply chain, from supporting builders and distributors to working closely with manufacturing operations. John graduated from Central Michigan University with a Bachelor of Science in business administration. He joins the APA Board of Trustees, filling the position vacated by Andy Konieczka’s resignation and move to a new role within Georgia-Pacific.
“APA deeply appreciates Andy Konieczka’s contributions to the Association,” said APA President Mark Tibbetts. “We welcome John to the Board of Trustees and are grateful for the expertise and leadership he brings.”
APA Releases 2023 Structural Panel & Engineered Wood Yearbook
U.S. reduces holdings of long-term financial securities, influencing construction market outlook
The yearbook includes an analysis of the U.S., Canadian and global economies, focusing on factors that impact demand for engineered wood products across several market segments as a basis for forecasting expected production of engineered wood products. In addition to the analysis and forecast, the Yearbook also includes historical data on engineered wood production. Topics examined include:
• Outlook and production statistics for structural panels (oriented strand board and plywood), including historical data
• North American imports and exports
• Residential construction in the U.S. and Canada (new and repair/remodel)
• Nonresidential and industrial markets
• Engineered wood product demand and production (glued laminated timber, I-joists and laminated veneer lumber)
Outlook 2023
The policy priority of central bankers in the U.S., Canada and Europe is to take steps they feel are needed to bring inflation down to a sustainable rate of 2%. Hence, they remain on a path of tightening monetary policy by raising their short-term policy rates and reducing their holdings of various long-term financial securities. This means the rate on a 30-year fixed-rate mortgage will remain above 6% through the rest of 2023.
The affordability challenge arising from the more than doubling in mortgage rates over the course of 2022 is evident in weaker home sales, both new and existing. Single-family starts are projected to be near 800,000 in 2023, down 20% from 2022. A record number of multifamily units are still under construction and raise concerns about returns on rental housing. This points to multifamily starts being down at least 10% in 2023 compared to 2022.
The entire 2023 market forecast, including all market segments and production outlook, as well as statistical data, is included in APA’s 2023 Structural Panel & Engineered Wood Yearbook, Form MKO-E188. Please contact Annie Morrison at Annie.Morrison@apawood.org to purchase the Yearbook for $300.
