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The Engineered Wood Market size was estimated at USD 360.41 billion in 2023, USD 381.42 billion in 2024, and is expected to grow at a CAGR of 6.02% to reach USD 542.68 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
Engineered wood, also known as manufactured or composite wood, is derived from a combination of wood products and other materials. It's important to differentiate engineered wood from solid wood, as the former stands out in versatility of application, ease of installation, and resistance to humidity and temperature changes. Increasing consumer need for high-quality, reliable, and environment-friendly construction materials is driving the growth of the engineered wood market. With engineered wood, builders can use less expensive wood types without compromising on strength, durability, or visual appeal. As a result, it is a cost-effective alternative to traditional hardwood.
The growing need to reduce the carbon footprint in construction is propelling the demand for engineered wood. Its manufacturing process is less intensive than producing traditional hardwood, contributing to fewer greenhouse gas emissions. The volatile price of adhesives used in manufacturing and durability issues hinder market growth. The growing introduction of advanced engineered wood by market vendors is expected to create opportunities for market growth.
Regional Insights
The engineered wood market in the Americas is expanding at an exponential rate with a significant drive towards sustainable construction and an emphasis on lightweight and durable materials across both the United States and Canada. Furthermore, numerous building codes have shifted specifications to engineered wood products, accentuating the growth of the engineered wood market. The APAC region displays immense growth potential in the engineered wood market. The most significant contributors to this growth are emerging economies such as India and China. Significant urbanization, a rise in the standard of living, and increasing disposable income are factors promoting the use of engineered wood in this region.The region also harbors some of the world's largest producers and consumers of plywood, imbuing it with a vast potential for the engineered wood sector. The EMEA region comprises a significant share of the global engineered wood market due to the prevalent trend of green building in Europe. The Middle East and Africa, particularly GCC countries and South Africa, are experiencing enhanced demand for luxury interior items, fueling the growth of the engineered wood market. The implementation of stringent carbon emission regulations is also encouraging the use of engineered wood in construction.
Market Trends by Segment
- Type: Growing usage of laminated veneer lumber (LVL) due to its superior load-bearing capacity and uniformity
- Application: Expanding the potential of engineered wood in a non-residential sector with its unique blend of cost-effectiveness and durability
Industry Insights
- Market Dynamics
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
- FPNV Positioning Matrix
- Market Share Analysis
- Strategy Analysis and Recommendations
Recent Developments
Atlas Engineered Products Announces Acquisition of a Truss and Wall Panel Manufacturer in New Brunswick, Canada
Atlas Engineered Products (AEP) acquired Léon Chouinard et Fils Co. Ltd./Ltée (LCF) to expand its national presence and achieve its long-term growth plan. By incorporating LCF into its operations, AEP strengthened its expertise and capacity in wall panel manufacturing, gained operational synergies, and increased material purchasing power.Huber Engineered Woods locating manufacturing operations in Shuqualak
Huber Engineered Woods is making a significant investment of USD 418 million to construct a cutting-edge-oriented strand board manufacturing plant in Shuqualak, Mississippi. The construction of the new facility is scheduled to commence in the near future, aligning with Huber Engineered Woods' unwavering commitment to innovation and sustainability.Star Building Materials, a Qualico Company, announces a USD 53 million investment that will double its capacity, create jobs, and help the building industry for decades to come
Star Building Materials, a Qualico Company, invested USD 53 million to double its capacity and generate employment opportunities. This expansion facilitated the production of trusses, engineered wood products (EWP), prefabricated wall panels (PWP), and interior finishing production, creating 140 new jobs. As part of this expansion, the operations at the Alyth yard are consolidated at the Balzac location.Key Company Profiles
The report delves into recent significant developments in the Engineered Wood Market, highlighting leading vendors and their innovative profiles. These include ARI Armaturen Steamline LLP, Binderholz GmbH, BlueLinx Corporation, Boise Cascade Company, Classic Floorings & Interiors Pvt. Ltd., Ego Premium, Floormonk, FraserWood, Freres Engineered Wood, Greenlam Industries Ltd., Hasslacher Holding GmbH, Havwoods India Pvt. Ltd., Huber Engineered Woods LLC, Kelai Wood, KLH Massivholz GmbH, Kronoplus Limited, Lampert Lumber, LP Building Solutions, Mayr-Melnhof Holz Holding AG, Parador GmbH, Roseburg Forest Products, The Natural Wood Floor Company, The Wood Flooring Co., Universal Forest Products, Inc., West Fraser Timber Co., Ltd., and Weyerhaeuser Company.This research report offers invaluable insights into various crucial aspects of the Engineered Wood Market:
- Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
- Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
- Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
- Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
- Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.
Additionally, the report addresses key questions to assist stakeholders in making informed decisions:
- What is the current market size and projected growth?
- Which products, segments, applications, and regions offer promising investment opportunities?
- What are the prevailing technology trends and regulatory frameworks?
- What is the market share and positioning of the leading vendors?
- What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?
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Table of Contents
1. Preface
2. Research Methodology
5. Market Insights
6. Engineered Wood Market, by Type
7. Engineered Wood Market, by Application
8. Americas Engineered Wood Market
9. Asia-Pacific Engineered Wood Market
10. Europe, Middle East & Africa Engineered Wood Market
11. Competitive Landscape
12. Competitive Portfolio
List of Figures
List of Tables
Companies Mentioned
- ARI Armaturen Steamline LLP
- Binderholz GmbH
- BlueLinx Corporation
- Boise Cascade Company
- Classic Floorings & Interiors Pvt. Ltd.
- Ego Premium
- Floormonk
- FraserWood
- Freres Engineered Wood
- Greenlam Industries Ltd.
- Hasslacher Holding GmbH
- Havwoods India Pvt. Ltd.
- Huber Engineered Woods LLC
- Kelai Wood
- KLH Massivholz GmbH
- Kronoplus Limited
- Lampert Lumber
- LP Building Solutions
- Mayr-Melnhof Holz Holding AG
- Parador GmbH
- Roseburg Forest Products
- The Natural Wood Floor Company
- The Wood Flooring Co.
- Universal Forest Products, Inc.
- West Fraser Timber Co., Ltd.
- Weyerhaeuser Company
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 182 |
| Published | May 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 381.42 Billion |
| Forecasted Market Value ( USD | $ 542.68 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 26 |
