Categorizing markets by resource value retention options from an industrial policy perspective: The case of wood-based industries

• We integrate industrial-organization theory, value retention options, and a market network model. • We categorize 270 wood-based markets based on eight R-imperatives (Reduce, Reuse, …). • We show ∼40% of markets fit these categories and are embedded in cascading pathways. • We break down the remaining ∼60% of markets that may depict structural barriers. • We derive conclusions for governance based on a nuanced understanding of market structures.