Global Engineered Wood Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Engineered wood Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global engineered wood industry growth, share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global engineered wood market size reached 273.5 Million Cubic Metres in 2022. Looking forward, IMARC Group expects the market to reach 392.3 Million Cubic Metres by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.
Engineered wood, also known as composite wood or man-made wood, is a versatile and innovative material that is manufactured by binding together layers of wood veneers, strands, or fibers with adhesives to create a strong and stable product. This manufacturing process enhances its structural integrity, making it less prone to warping, cracking, and shrinking, while utilizing smaller, fast-growing trees, thereby promoting sustainability. Engineered wood comes in various forms, such as plywood, oriented strand board (OSB), laminated veneer lumber (LVL), and particleboard, each catering to specific applications and offering unique advantages.
Global Engineered Wood Market Trends and Drivers:
At present, environmental concerns among individuals and a push towards sustainable practices in the construction and manufacturing sectors is increasing the adoption of engineered wood. With the growing awareness about deforestation and the importance of responsible sourcing, businesses are seeking eco-friendly building materials that reduce their carbon footprint without compromising on performance, which is propelling the growth of the market. Besides this, engineered wood offers enhanced dimensional stability and strength making it an ideal choice for construction projects, including flooring, roofing, and wall framing. In line with this, the uniformity and predictability in performance of engineered wood ensure reduced waste during construction, resulting in cost savings for businesses. Furthermore, technological advancements in manufacturing processes are leading to improved product quality and expanded application possibilities for engineered wood. In addition, engineered wood products are often more cost-effective compared to solid wood, as they can be produced using smaller, lower-grade trees and wood residues. This affordability appeals to both residential and commercial builders. Moreover, engineered wood can be engineered to have specific properties, such as increased strength or resistance to moisture, making it adaptable for various applications and architectural designs. Apart from this, the increasing demand for engineered wood, as it generates less waste compared to traditional milling processes, making it an attractive option for minimizing environmental impact.
Global Engineered Wood Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: Boise Cascade Company, Havwoods Ltd, Huber Engineered Woods LLC (J.M. Huber Corporation), Louisiana-Pacific Corporation, Mayr-Melnhof Holz Holding AG, Nordic Structures, Pacific Woodtech Corporation (Daiken Corporation), Roseburg Forest Products Co. (Wilsonart), Stora Enso Oyj, Ufp Industries Inc., West Fraser Timber Co. Ltd and Weyerhaeuser Company
The report segmented the market on the basis of region, type, application and end user.
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 Region:
- 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
If you want the latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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