Market Overview 2022-2027:
The latest research study “Engineered Wood Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global engineered wood market reached a volume of 254.4 Million Cubic Metres in 2021. Looking forward, IMARC Group expects the market to reach 374.1 Million Cubic Metres by 2027, exhibiting a CAGR of 6.30% during 2022-2027.
Industry Definition and Application:
Engineered wood, or composite wood, is manufactured by binding fibers, veneers, particles, strands, or thin wood boards with adhesives. It is more moisture-resistant, waterproof, cost-effective, eco-friendly, and easier to clean than its traditional counterparts. It is commonly used in walls, doors, tables, benches, modular kitchens, bookshelves, flooring, boats, and wardrobes. At present, engineered wood is gaining immense traction due to the rising demand for advanced grading wood among consumers across the globe.
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Market Trends:
The global engineered wood market is primarily driven by the escalating demand for engineered wood as a substitute for emission-intensive materials, such as concrete, aluminum, and steel, to reduce greenhouse gas (GHG) emissions. Moreover, there is a rise in the demand for cross-laminated timber (CLT) as a building material. In line with this, the increasing use of oriented strand boards (OSB) in residential construction, such as walls, floors, and roofs, is positively influencing market growth. Additionally, there has been a rise in the innovation and remodeling of homes, especially in developed nations.
Along with this, extensive investments in housing projects by governments of numerous countries have catalyzed market growth. Besides this, the increasing preference for aesthetically appealing furniture with attractive curves, arches, embossing, and trim is contributing to the market growth. Other factors, including ongoing research and development (R&D) activities, growing adoption of prefabricated houses, elevating the living standards of individuals, and rapid industrialization, are also anticipated to create a favorable market outlook.
| Engineered Wood Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 254.4 Million |
| Market forecast in 2027 | US$ 374.1 Million |
| Growth Rate | CAGR of 6.30% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, Application, End User and Region |
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Type:
- I-Beams
- Plywood
- Laminated Veneer Lumber (LVL)
- Glulam (Glued Laminated Timber)
- Oriented Strand Boards (OSB)
- Cross-Laminated Timber (CLT)
- Others
Breakup by Application:
- Construction
- Furniture
- Flooring
- Packaging
- Others
Breakup by End User:
- Residential
- Commercial and Industrial
Breakup by Geography:
- North America:( United States, Canada)
- Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Boise Cascade Company
- Havwoods Ltd
- Huber Engineered Woods LLC (J.M. Huber Corporation)
- Pacific Woodtech Corporation (Daiken Corporation)
- Roseburg Forest Products Co. (Wilsonart)
- Stora Enso Oyj
- Louisiana-Pacific Corporation
- Mayr-Melnhof Holz Holding AG
- Nordic Structures
- Ufp Industries Inc.
- West Fraser Timber Co. Ltd
- Weyerhaeuser Company.
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