Michael Pfeifer

The CEO of one of Europe’s largest sawmilling groups has told the market and customers to avoid pessimism at the start of 2024 and shared long-term reasons to be optimistic about wood’s market prospects. Pfeifer Group CEO Michael Pfeifer, talking in a pre-Christmas online panel discussion, said 2023 had been marked by challenges, with significantly more difficult trading conditions compared to several previously good years for the wood industry. “Due to known problems such as high interest rates, inflation and a reduced willingness to invest, we have to assume that 2024 will not be an easy year for the wood industry either,” Mr Pfeifer added. “However, there are enough reasons not to fall into pessimism. More and more studies are proving that the future belongs to wood as a building material and energy source.