The global demand for Engineered Wood Market is presumed to reach the market size of nearly USD 662.78 BN by 2028 from USD 421.77 BN in 2021 with a CAGR of 6.67% under the study period 2022 - 2028.
Engineered wood can be referred to as artificial wood or composite wood because these are affordable and have environmentally friendly properties. These woods are made of composite materials created by glueing together the strands, fibers, and particles with appropriate adhesives. These engineered woods may be produced from sawmill waste, rice straw, sugarcane bagasse, wheat straw, and other wood wastes, making them both cost-effective and environmentally accepted.
Market Dynamics
The engineered wood market is anticipated to increase significantly over the following years due to features offered by engineered wood, like cost effectiveness, improved quality, less waste, and environmental friendliness. Several technological advancements and machining techniques have been created to increase the effectiveness and quality of the products. These developments are anticipated to continue driving the market expansion of engineered wood. Rapid deforestation and strict controls on carbon emissions are also factors that are propelling the growth of the engineered wood market. Some adhesives, such as urea-formaldehyde used in engineered wood products, are highly hazardous, and some products, like particle boards, might not be suited for outdoor usage because they are more vulnerable to humidity. These drawbacks serve as market growth constraints for engineered wood.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of engineered wood. The growth and trends of engineered wood industry provide a holistic approach to this study.
Market Segmentation
This section of the engineered wood market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- I-Beams
- Plywood
- Laminated Veneer Lumber (LVL)
- Glulam (Glued Laminated Timber)
- Oriented Strand Boards (OSB)
- Cross-Laminated Timber (CLT)
- Others
By Application
- Construction
- Furniture
- Flooring
- Packaging
- Others
By End-User
- Residential
- Commercial & Industrial
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Engineered Wood market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Engineered Wood Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the engineered wood market include Boise Cascade Company, Celulosa Arauco Y Constitucion SA, Huber Engineered Woods LLC, Louisiana-Pacific Corporation (LP), Norbord Inc., Patrick Industries, Inc., Raute Group, Shenzhen Risewell Industry Co., Ltd, Universal Forest Products, Inc. and Weyerhaeuser Company. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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