I-Joist Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
I-joist, also known as wooden I-beam, composite wooden joist, plywood I-beam, is an engineered wood product. It is made from a combination of timber products such as laminated veneer timber or graded solid timber, and has two parts – web and flanges. The web is placed between the top and bottom flanges which gives it the distinct ‘I’ shape. The web and flanges produce a lightweight beam which is both sturdy and durable. The flanges resist bending and the web helps to transmit the shear stresses, relying on plywood's panel shear capacity and dimensional stability. The latest report by IMARC Group titled, “I-Joist Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global I-joist market reached a value of US$ 2.3 Billion in 2017, growing at a CAGR of nearly 15% during 2010-2017.
The ‘I’ shape offers I-joist great strength and flexibility in the installation of residential flooring and roof framing, and in the construction of commercial projects. This is mainly due to its high strength-to-weight ratio which helps in carrying heavy loads over long spans and long structures. It also shrinks or swells less as compared to solid wood when the ambient conditions such as temperature, humidity and air pressure change. Apart from this, it offers more options for designing economical floor joist layouts while being easy to install. Owing to these factors, the market for I-joist is further expected to reach a value of nearly US$ 4 Billion by 2023.
On the basis of end-use the market is segmented as commercial and residential. The residential sector is the largest consumer for plywood, accounting for the majority of the total global shares. The report has also conducted an evaluation of the market on the basis of key regions and finds that North America is the largest market for I-joist. Some of the other major regions are Europe, Asia-Pacific, Latin America and Middle East and Africa.
This report provides a deep insight into the global I-joist industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the I-joist industry in any manner.
Key Aspects Analysed:
Trends and dynamics in the I-joist market. Key drivers/restraints and their impact on the current and future market scenario. Examination of the competitive landscape.
Major Regions Covered in This Report:
Asia-Pacific Europe North America Latin America Middle East and Africa
Major Applications Covered in this Report:
Residential/ Commercial New Construction/Replacement Floors/Roofs/Others
Focus of the Analysis:
Overview Historical and current market scenario Market trends Market forecast