Engineered Wood Market by Type (I-Beams, Plywood, Laminated Veneer Lumber (LVL), Glulam (Glued Laminated Timber), and Oriented Strand Boards (OSB), Cross-Laminated Timber (CLT), and Others), Application (Construction, Furniture, Flooring, Packaging, and Others) and End User (Residential and Commercial & Industrial): Global Opportunity Analysis and Industry Forecast, 2020–2027
The engineered wood market was valued at $284,761.1 million in 2019, and is expected to reach $400,450.9 million by 2027, registering a CAGR of 6.2% from 2020 to 2027. Engineered wood, also known as composite wood, consists of various wood products made by joining veneers, particles, fibers, and strands of wood with adhesives to form a man-made composite material. They include a variety of products ranging from plywood to roof trusses.
The engineered wood market is mainly driven by rise in renovation and remodeling of older homes. Moreover, new housing projects are also responsible to drive the engineered wood market. In addition, as engineered wood is cost effective and eco-friendly alternative to other wood and cement products increase in use of engineered wood as substitution for building materials. Moreover, engineered wood emits lesser harmful bi-products while manufacturing compared to emission-intensive materials, such as concrete, steel, or aluminum. Therefore engineered wood is expected to minimize greenhouse gas emissions. In addition, adhesives/resins used in engineered wood are stable environmentally and do not produce greenhouse gases. This has led to increase in use of engineered wood among builders and architects. However, cheaper material such as plastic laminates and foils, re-sanded and re-used engineered wood products and panels act as restraint to the market. However, urbanization of developing countries in Asia-Pacific and LAMEA is expected to boost the engineered wood market during the forecast period.
The engineered wood market is segmented into type, application, end user, and region. On the basis of type, the market is divided into I-Beams, plywood, laminated veneer lumber (LVL), glulam (glued laminated timber), oriented strand boards (OSB), cross-laminated timber (CLT), and others. Depending on application, it is classified into construction, furniture, flooring, packaging and others. By end user, it is segregated into residential and commercial & industrial. By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The major players profiled in the engineered wood market include Boise Cascade Company, Celulosa Arauco y Constitucion SA, Huber Engineered Woods LLC, Louisiana-Pacific Corporation (LP), Norbord Inc., Patrick Industries, Inc., Raute Group, Shenzhen Risewell Industry Co., Ltd, Universal Forest Products, Inc. and Weyerhaeuser Company. Major companies in the market have adopted strategies such as business expansion, agreement, acquisition and product launch to offer better services to customers in the engineered wood market.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive analysis of the current and emerging engineered wood market trends and dynamics.
In-depth engineered wood market analysis is conducted by estimations for the key segments between 2020 and 2027.
Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
The market forecast analysis from 2020 to 2027 is included in the report.
The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the market industry.
KEY MARKET SEGMENTS
Laminated Veneer Lumber (LVL)
Glulam (Glued Laminated Timber)
Oriented Strand Boards (OSB)
Cross-Laminated Timber (CLT)
Commercial & Industrial
Rest of Europe
Rest of Asia-Pacific
Boise Cascade Company
Celulosa Arauco Y Constitucion SA
Huber Engineered Woods LLC
Louisiana-Pacific Corporation (LP)
Patrick Industries, Inc.
Shenzhen Risewell Industry Co., Ltd
Universal Forest Products, Inc.
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