The Engineered wood market report presents dynamic opportunities in the industry. The engineered wood market study presents key insights into the market and provides forecasts across Construction, Furniture, Flooring, Packaging, Other applications. Further, I-Beams, Plywood, Laminated Veneer Lumber, Glulam, Oriented Strand Boards, Cross-Laminated Timber, and Other types are forecast from 2020 to 2030. The report also presents insights into engineered wood companies and countries across regions.

 

Engineered Wood Market Statistics

• The global Engineered Wood Market Size stood at US$ 219.8 billion in 2020 and is poised to register 6.24% growth over the forecast period from 2021 to 2028
• Of the different types of Engineered Wood, I-Beams, Plywood, Laminated Veneer Lumber (LVL), Glulam (Glued Laminated Timber), Oriented Strand Boards (OSB), Cross-Laminated Timber (CLT), and others are included in the report
• Construction application own more than 41.6% of the market share, followed by Furniture, Flooring, Packaging, and Others
• Driven by rapid adoption across end-user industries, and rapidly expanding construction activities, Asia Pacific dominates the global Engineered Wood market with over 35% market share in value terms.
• Key market driving forces include- growth in the housing industry, rapid urbanization trends, demand from emerging countries, strong role of repair and remodel applications, and growth in the commercial construction sector and others are identified among main market dynamics
• On the other hand, challenges associated with fluctuations in housing demand, intense competitive conditions, and health concerns associated with engineered wood restrict the market growth

 

Global Engineered Wood Market Outlook, USD Billion, 2020- 2028

The global Engineered Wood market size is estimated to reach $353.8 billion in 2028 from $219.8 billion in 2020, at a CAGR of 6.24% between 2021 and 2028.

 

Engineered Wood Industry Panorama

Engineered wood products are widely adopted by builders across applications due to their potential advantages of being environmentally sensitive, high strength, cost-effective, easy to use, and other properties. Engineered wood enables efficient use of forest resources, and stretches the yield. The use of smaller, faster-growing, and lower quality wood to make superior products is encouraging the use of engineered wood across markets.

Engineered wood bonds wood strands, veneer, lumber, or other wood fibers to produce a larger composite material. Accordingly, the engineered products have advantages of more reliability than the original wood, and also present superior strength and stiffness. They also have the advantages of eliminating or minimizing defects and weak points, encouraging their use across structural applications and industrial applications.

Structural applications include structural wood panels such as structural plywood, Oriented Strand Board (OSB), Glued Laminated Timber (glulam), Structural Composite Lumber such as laminated veneer lumber (LVL), parallel strand lumber (PSL), and oriented strand lumber (OSL), and WOOD I-JOISTS remain the key used types of engineered wood. On the other hand, industrial applications such as particleboard, medium-density fiberboard (MDF), and other composites are also rapidly expanding, presenting a strong market potential for the overall market.

 

Engineered Wood Market Trends- Growing use in major emerging economies

Products in a wide variety of thicknesses, grades, sizes, and quality are marketed across markets. Cost-effective, durable, and long-lasting properties are encouraging furniture made out of engineered wood. They also enable ease of manufacturing, transporting, handling, and deployment. Accordingly, the penetration is swift in developing markets, predominantly in the Asia Pacific region.

Asia Pacific construction market has been recovering quicker than anticipated in the past two quarters. Driven by strong support from the residential construction market in H1 2021, the market is poised to register optimistic growth in 2021. Both domestic and international companies operate in the industry driven by political and economic stability, low operational challenges, and steady growth in economic conditions. The majority of the companies are increasing their project portfolio in developing economies.

Policy initiatives by governments towards building houses, rapid urbanization, favorable bank interest rates, and wide availability of projects are encouraging the demand for construction, which supports the use of engineered wood. Further, commercial and industrial construction contractors are also increasingly relying on engineered wood for its low cost and high strength benefits. Further, as the engineered wood is available in various sizes and dimensions, the demand prospects remain robust.

 

Engineered Wood Market Challenges- Fluctuation in housing demand

The global housing demand is highly fluctuating as the new residential homes construction largely relies on credit availability, interest rates, and affordability of individuals. However, the current COVID-19 pandemic has resulted in a significant decline in savings of individuals, buyer confidence in taking up loans for new homes, and accordingly, the demand for engineered wood products in new homes and refurbishments fluctuated significantly. Further, the demand for the housing industry in the next few quarters remains uncertain as, despite the vaccination program, the emergence of new strains and recovery of normal industrial and economic activity is uncertain. This can result in a significant reduction in the R&D efforts of manufacturers as cost optimization remains one of the main strategies opted by leading players.

 

Engineered Wood Market Report Segmentation

• Type
  • I-Beams
  • Plywood
  • Laminated Veneer Lumber
  • Glulam
  • Oriented Strand Boards
  • Cross-Laminated Timber
  • others
• End-users
  • Construction
  • Furniture
  • Flooring
  • Packaging
  • Others
• Regions
  • North America
  • Europe
  • Asia Pacific
  • Middle East Africa
  • Latin America

 

 

1. TABLE OF CONTENTS 2

List of Tables      6

List of Figures    8

 

2. EXECUTIVE SUMMARY             11

Summary             11

Engineered Wood Industry Outlook, 2020 – 2028              12

Abbreviations    13

 

3. INTRODUCTION TO ENGINEERED WOOD MARKET       14

Market Segments - Types, Applications, and Regions      14

Research Methodology 15

 

4. MACRO FACTORS SHAPING THE ENGINEERED WOOD MARKET OUTLOOK        16

Economic Factors             16

Demographic Factors     17

 

5. OVERVIEW OF THE ENGINEERED WOOD MARKET        18

Engineered Wood Industry Panorama    18

Engineered Wood Companies Profiled in the Report       20

Engineered Wood Market Dynamics       21

Engineered Wood Market Challenges    26

Regional Analysis             28

 

6. TRENDS IN ENGINEERED WOOD MARKET TYPES           29

Largest Types    29

Plywood Type Engineered Wood Market Size Outlook   30

Laminated Veneer Lumber (LVL) Type Engineered Wood Market Size Outlook   31

Glulam (Glued Laminated Timber) Type Engineered Wood Market Size Outlook 32

Oriented Strand Boards (OSB) Type Engineered Wood Market Size Outlook         33

Cross-Laminated Timber (CLT) Type Engineered Wood Market Size Outlook        34

I-Beams Type Engineered Wood Market Size Outlook    35

Others  36

 

7. GLOBAL ENGINEEERD WOOD MARKET OUTLOOK ACROSS COVID-19 RECOVERY SCENARIOS    37

Low Growth Scenario     38

Reference Case Scenario              39

High Case Scenario          39

 

8. TRENDS IN APPLICATIONS       40

Engineered Wood Market in Construction Industry          41

Engineered Wood Market in Furniture Industry 42

Engineered Wood Market in Flooring     43

Engineered Wood Market in Packaging  44

Engineered Wood Market in Other Industries    45

 

9. NORTH AMERICA ENGINEERED WOOD MARKET ANALYSIS AND OUTLOOK      46

North America Engineered Wood Market Size Outlook  46

North America Engineered Wood Market Trends and Opportunities        47

Plywood is the Largest Type of Engineered Wood in North America         47

Construction is the Largest Application of Engineered Wood in North America    48

The US dominates the North American Engineered Wood Market            49

 

Market Outlook by Country        50

United States Engineered Wood Market Size Outlook    50

Canada Engineered Wood Market Size Outlook 51

Mexico Engineered Wood Market Size Outlook 52

 

10. EUROPE ENGINEERED WOOD MARKET ANALYSIS AND OUTLOOK       53

Europe Engineered Wood Market Size Outlook 53

Europe Engineered Wood Market Trends and Opportunities       54

Plywood is the Largest Type of Engineered Wood in Europe        54

Construction is the Largest Application of Engineered Wood in Europe   55

Germany dominates the European Engineered Wood Market    56

Market Outlook by Country        57

Germany Engineered Wood Market Size Outlook             57

United Kingdom Engineered Wood Market Size Outlook               58

France  Engineered Wood Market Size Outlook 59

Spain Engineered Wood Market Size Outlook     60

Italy Engineered Wood Market Size Outlook       61

Russia Engineered Wood Market Size Outlook   62

Other Europe Engineered Wood Market Size Outlook    63

 

11. ASIA PACIFIC ENGINEERED WOOD MARKET ANALYSIS AND OUTLOOK 64

Asia Pacific Engineered Wood Market Size Outlook          64

Asia Pacific Engineered Wood Market Trends and Opportunities               65

Plywood is the Largest Type of Engineered Wood in the Asia Pacific         65

Construction is the Largest Application of Engineered Wood in the Asia Pacific    66

China dominates the Asia Pacific Engineered Wood Market         67

Market Outlook by Country        68

China Engineered Wood Market Size Outlook     68

India Engineered Wood Market Size Outlook      69

Japan Engineered Wood Market Size Outlook    70

South Korea Engineered Wood Market Size Outlook       71

Australia Engineered Wood Market Size Outlook              72

Other Asia Pacific Engineered Wood Market Size Outlook             73

 

12. LATIN AMERICA ENGINEERED WOOD MARKET            74

Latin America Engineered Wood Market Size Outlook     74

Latin America Engineered Wood Market Trends and Opportunities          75

Plywood is the Largest Type of Engineered Wood in the Latin American Market 75

Construction is the Largest Application of Engineered Wood in Latin America       76

Brazil dominates the Latin America Engineered Wood Market     77

 

Market Outlook by Country        78

Brazil Engineered Wood Market Size Outlook     78

Argentina Engineered Wood Market Size Outlook            79

Rest of Latin America Engineered Wood Market Size Outlook     80

 

13. MIDDLE EAST AND AFRICA ENGINEERED WOOD MARKET       81

Middle East and Africa Engineered Wood Market Size Outlook   81

Middle East and Africa Engineered Wood Market Trends and Opportunities        82

Plywood is the Largest Type of Engineered Wood in the Middle East and Africa Market  82

Construction is the Largest Application of Engineered Wood in the Middle East and Africa             83

Middle East dominates the MEA Engineered Wood slices Market                              84

 

Market Outlook by Country        85

Saudi Arabia Engineered Wood Market Size Outlook       85

UAE Engineered Wood Market Size Outlook       86

South Africa Engineered Wood Market Size Outlook       87

Other Middle East and Africa Engineered Wood Market Size Outlook      88

 

14. COMPETITIVE LANDSCAPE    89

Weyerhaeuser Company             89

Boise Cascade Company                              97

Georgia-Pacific LLC          106

Louisiana-Pacific Corporation      112

Roseburg Forest Products            119

 

15. APPENDIX    130

About USD Analytics      

Sources and Research Methodology      

Copyright

 

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