According to the latest report by IMARC Group, “Global Engineered Wood Market Share, Size, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, 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.
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.
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.
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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.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Engineered Wood Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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 has segmented the market on the basis of region, type, application and end user.
Breakup by Type:
- Laminated Veneer Lumber (LVL)
- Glulam (Glued Laminated Timber)
- Oriented Strand Boards (OSB)
- Cross-Laminated Timber (CLT)
Breakup by Application:
Breakup by End User:
- 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
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- 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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