Engineered wood products are among the most beautiful and environment friendly building materials. They are manufactured efficiently from renewable resource. In construction, the engineered products are available in wide variety of sizes and dimensions. The global engineered wood market is a very dynamic market and is expected to witness high growth over the forecast period. Easy maintenance, and uniqueness of colorful design, are among other features, pushing the growth of the market. Some of the key factors that are currently driving the global engineered wood market include rising disposable incomes, and increasing urbanization and industrialization rates. Moreover, manufacturing of engineered wood products requires substantially less energy in comparison to that of other building products such as steel and concrete. Lesser greenhouse gas and other air-polluting emission, make engineered wood, an obvious choice. With the growing demand for resilient building structures, there will be continuous technological innovations in the engineered wood market. Additionally, cost efficiency, better quality, contribution in waste reduction, along with highly efficient wood frame construction, make engineered wood, a top choice for the consumers.
The Global Engineered Wood Market has been segmented based on product types, applications and regions. On the basis of product type the segments include Plywood, Laminated Veneer Lumber (LVL), Glulam, and Cross Laminated Timber (CLT). The engineered wood market is segmented based on the type of product, wherein plywood and glulam accounted for the largest market shares. On the basis of application, it has been segmented as residential and non-residential. The non-residential segment possesses higher market share in the overall engineered wood market. Geographically, Asia Pacific is expected to remain the highest growing region during the forecast period, due to the large construction industry, changing lifestyle and growing end-use industries. Also, due to the presence of countries such as China and India, the region is witnessing a rise in urbanization. Engineered wood market is expected to grow at CAGR of more than 12.82%.
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The Key Players of Global Engineered Wood Market includes
- Celulosa Arauco y Constitución (Chile),
- Boise Cascade Company (U.S.),
- Lowe’s Companies, Inc.(U.S.),
- Roseburg Forest Products (U.S.),
- Weyerhaeuser (U.S.),
- Georgia Pacific Wood Products, LLC (U.S.),
- Universal Forests Products, Inc. (U.S.),
- Huber Engineered Wood LLC (U.S.),
- CST Timber Co (U.S.),
- Rockshield Engineered Wood products ULC (U.S.)
- Kahrs Group (Sweden).
Market Research Analysis:
The ecofriendly feature of the engineered wood products, will force the global engineered wood market to grow at a rapid pace during the forecast period. Demand for engineered wood is driven by the industry looking for alternatives to concrete and hardwood so as to conserve energy, and reduce waste. Geographically, Europe has increased rapidly in the past decade despite the economic downturn. Developing regions such as Asia Pacific, Latin America, and Africa expected to grow in the forecast period due to factors such as stringent regulations regarding carbon emissions, and rapid deforestation, as they are also likely to propel the adoption of engineered wood. Countries in Asia Pacific such as Japan, Indonesia, India, lead the engineered wood market, as they are the main exporters of raw materials to North American and European countries. Market Research Future analysis shows that the global market for engineered wood, is estimated to grow at CAGR of 12.82% by the end of year 2023
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Scope of the report
This study provides an overview of the global engineered wood market, tracking one market segment across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study include segments the global engineered wood market, by products and regions.
- By Type
- Laminated Veneer Lumber (LVL)
- Cross Laminated Timber (CLT)
- By Application
- By Region
- North America
- Asia Pacific
Rest of the World
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