The engineered wood, sometimes known as man-made wood or composite wood, is used as a substitute to hardwood and concrete in the construction sector. Latest report on the global engineered wood market, published by Market Research Future (MRFR), asserts that this market could witness progress at 12.82% CAGR between 2017 and 2023. By value, the market can be worth the USD 24.12 Mn by the end of the forecast period.
Major players in the global engineered wood market include Boise Cascade Company (USA), Celulosa Arauco y Constitución (Chile), CST Timber Co (USA), Georgia Pacific Wood Products LLC (USA), Huber Engineered Wood LLC (USA), Kahrs Group (Sweden), Lowe’s Companies Inc.(USA), Rockshield Engineered Wood products ULC (USA), Roseburg Forest Products (USA), Universal Forests Products Inc. (USA), and Weyerhaeuser (USA).
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The primary factor advancing the global engineered wood market growth is a set of advantages that are offered by engineered wood. Such advantages include ease of customization, cost efficiency, better quality, waste reduction, longevity, easy maintenance, and uniqueness of colorful design. Other factors backing the market include growing demand for engineered wood, reduced disposal costs, less product damage, eco-friendly nature, less labor cost, and lastly, government regulations to encourage the use of engineered wood.
Latest Industry News
- For the renovation of two buildings in Surrey-based Cranleigh School in the UK, the laminated veneer lumber (LVL) products of Metsä Wood’s Kerto have been used. The newly renovated structure has been turned into the van Hasselt Centre. 31 JUL 2019
- Structural wood products distributor Eastern Engineered Wood Products and patented WEBshield panel manufacturer Pinkwood have forged a partnership. Under the terms of the partnership, the two businesses have reached a distribution agreement to business with pro lumber dealers, component manufacturers, and regional wholesalers, in New England and through the Mid-Atlantic and North Eastern states. 26 JUL 2019
- On the lines of 18-storey Brock Commons tower in Vancouver, the Canadian Government has sanctioned some initiatives to sanction the use of engineered wood to construct similar skyscrapers in different cities of Canada. 22 JUL 2019
- To facilitate a cross-laminated timber (CLT) unit in its Ždírec mill in the Czech Republic, Stora Enso has initiated feasibility studies. Stora Enso is also sending a new construction beam unit to Ybbs mill in Austria. The company has plans to consolidate production with an increased focus on efficiency and to streamline the asset base. 19 JUL 2019
The global engineered wood market segmentation covers the application and product type. MRFR’s report peeks into the market to understand various facets of the market.
The application-based segmentation of this market covers residential and non-residential. Based product type, the market has been segmented into Cross Laminated Timber (CLT), Glulam, Laminated Veneer Lumber (LVL), I-beams, and Plywood.
A geographical outlining of the global engineered wood market encompasses Asia Pacific, Europe, North America, and Rest of the World (RoW).
Asia Pacific region holds the dominating share in the global market due to rising demand from countries like China and India. Market growth in these two countries has made the Asia Pacific region, the fastest-growing regional market. Growing demand from the residential & non-residential construction industries is also driving the market growth. Technological advancement makes Japan a prominent country-specific market of this region.
Holding a major market share, Europe occupies a dominating position in the global market due to the growing use of engineered wood products in construction and increased cost competitiveness. New construction business models are promoting institutional changes that include revising wood-framed multi-storey building standards. Vital country-specific markets in this region include France, Germany, Spain, and the UK.
In North America, the market is strong due to technological advancement, the existence of strong infrastructure, and the presence of major market players in the USA. After USA, Canada is the most important country-specific market.
Scope of Report
The report for Global Engineered Wood Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Browse Complete Report “Engineered Wood Market Research Report – Forecast To 2023” @ https://www.marketresearchfuture.com/reports/engineered-wood-market-4791
Table Of Contents:
1… Executive Summary
2 Research Methodology
2.1 Scope of the Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3… Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/value Chain Analysis
3.4 Porter’s Five Forces Analysis
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