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 market 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 is a versatile and highly adaptable building material comprising composite wood products. It is manufactured by binding or fixing the strands, particles, fibers, veneers, or boards of wood together with adhesives or other methods of fixation to form composite materials. It is available in several types, including plywood, medium-density fibreboard (MDF), oriented strand board (OSB), and laminated veneer lumber (LVL). It is an ideal alternative to solid wood in situations requiring added durability, uniformity, and versatility. It offers advantages, such as increased stability, resistance to temperature and humidity fluctuations, and easier installation. It is often more cost-effective and can be tailor-made for specific applications. It is considered an eco-friendly option than traditional wood as it can use recycled wood fibers for core materials. It is extensively used in various applications, including flooring, cabinetry, furniture, and even as structural components in construction.
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Global Engineered Wood Market Trends and Drivers:
At present, the rising demand for durable and aesthetically pleasing construction materials for remodeling and renovation of homes represents one of the crucial factors impelling the market growth. Additionally, the increasing awareness about sustainable construction practices is encouraging the adoption of engineered wood as an eco-friendly alternative to concrete and steel due to its lower carbon footprint and renewable nature. Besides this, the growing innovations in adhesive technologies and improved manufacturing processes for enhancing the performance and durability of engineered wood products make them more appealing for a wide range of applications. Moreover, the rising demand for eco-friendly and energy-efficient housing is encouraging the adoption of engineered wood due to its ability to improve insulation and energy efficiency in buildings, leading to lower energy costs. In addition, the increasing implementation of stringent regulatory policies by governing agencies is promoting the use of green materials in construction, which often include engineered wood products. Furthermore, the growing advancements in supply chain management are improving the availability and delivery of engineered wood products, making them more accessible for large-scale projects around the world. Apart from this, the rising utilization of engineered wood in commercial spaces, including offices, malls, and multipurpose buildings, for its aesthetic qualities and its load-bearing capabilities is bolstering the market growth. Additionally, the increasing reliance on online retail platforms, offering various engineered wood products, and delivering them to the doorstep of buyers is propelling the market growth. Moreover, the growing interest in open-floor plans in residential settings is catalyzing the demand for innovative engineered wood solutions. Besides this, the rising preference for engineered wood flooring and furniture in households due to its aesthetic appeal and long-term cost savings in maintenance and repair is supporting the market growth. In addition, the increasing adoption of engineered wood in renovation and retrofitting projects, due to its lightweight nature and ease of installation, is contributing to the growth of the market.
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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