The latest research study “Engineered Wood Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global engineered wood market reached a volume of 254.4 Million Cubic Metres in 2021. Looking forward, IMARC Group expects the market to reach 374.1 Million Cubic Metres by 2027, exhibiting a CAGR of 6.30% during 2022-2027.
Covid-19 Impact:
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Industry Definition and Application:
Engineered wood, also called mass timber or man-made wood, represents a wide- range of derivative wood products that are manufactured by fixing or binding the fibers, strands, veneers, and wood chips together with adhesives to form composite wood structures. Some of the commonly available variants available in the market include particleboard, plywood, cross-laminated timber, glued laminated timber, finger joints, etc. They reduce waste and improve dimensional stability, thermal performance, rigidity, etc. Apart from this, engineered wood products offer structural simplicity, cost-effectiveness, high strength, etc. Consequently, they are extensively utilized in the manufacturing of household furniture items, such as kitchen cabinets, bookcases, windows, doors, wall and floor coverings, etc., across the globe.
Global Engineered Wood Market Trends and Drivers:
The increasing demand for sophisticated and aesthetically appealing interiors and the expanding construction sector are primarily driving the engineered wood market. Moreover, the widespread adoption of construction materials, including medium-density fiberboard and oriented strand board (OSB), that offer improved fire resistance and earthquake-proof features is further catalyzing the market growth. In addition to this, the rising need for modern spaces is augmenting the utilization of engineered wood products in commercial and residential establishments, owing to its several benefits, such as easy installation, shorter construction time, flexibility in design and style, etc., when compared to precast concrete, thereby also bolstering the global market. Furthermore, the growing investments in R&D activities aimed at developing superior adhesion techniques to enhance the production processes are anticipated to fuel the engineered wood market over the forecasted period.
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Engineered Wood Market Report Scope |
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Report Coverage |
Details |
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Market size value in 2021 |
US$ 254.4 Million |
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Market forecast in 2027 |
US$ 374.1 Million |
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Growth Rate |
CAGR of 6.30% from 2022 to 2027 |
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Base year for estimation |
2021 |
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Historical data |
2016-2021 |
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Forecast period |
2022-2027 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Type, Application, End User and Region |
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Regional scope |
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa |
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Key companies profiled |
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. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
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Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Report Segmentation:
The report has been segmented the market into following categories:
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
By Geography:
- 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
List of Major Key Players:
The major players in the market 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.
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