Engineered Wood Market Size (2024 - 2029)

The engineered wood market is projected to experience growth, driven by increasing construction and restoration activities post-pandemic, which have helped it recover to near pre-pandemic levels. The market size is expected to expand due to rising demand from the non-residential sector and the growing use of cross-laminated timber as a construction material. However, growth may be challenged by environmental concerns related to formaldehyde emissions. Opportunities are anticipated in the residential construction sectors of India and China, while the Asia-Pacific region is expected to lead in market consumption during the forecast period.

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Market Size of Engineered Wood Industry

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Engineered Wood Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 5.00 %
Fastest Growing Market North America
Largest Market Asia-Pacific
Market Concentration High

Major Players

Engineered Wood Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Engineered Wood Market Analysis

The engineered wood market is expected to register a CAGR of over 5% during the forecast period.

The COVID-19 pandemic had a negative impact on the market, however, the market for engineered wood has now been close to reaching pre-pandemic levels because of increasing construction and restoration activities in the post-pandemic period.

  • Over the medium term, growing demand from the non-residential sector and increasing use of cross-laminated timber (CLT) as a construction material are likely to drive the market in the forecast period.
  • On the flip side, stringent environmental concerns related to formaldehyde emissions are likely to hinder the market growth.
  • The growing residential construction in India and China is expected to act as an opportunity in the forecast period.
  • The Asia-Pacific region is likely to dominate the global market and is expected to witness the highest consumption of engineered wood during the forecast period.

Engineered Wood Industry Segmentation

Engineered wood is a man-made wood product manufactured by binding strands, fibers, and wood chips with adhesives to make composite wood structures. The market is segmented based on type, application, and geography. By type, the market is segmented into plywood, oriented strand board (OSB), glulam, cross-laminated timber (CLT), laminated veneer lumber (LVL), particleboard, and other types. By application, the market is segmented into non-residential and residential. The report also covers the market size and forecasts for the engineered wood market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on volume (thousand cubic meters).

Application
Non-residential
Residential
Type
Plywood
Oriented Strand Board (OSB)
Glulam
Cross-laminated Timber (CLT)
Laminated Veneer Lumber (LVL)
Particleboard
Other Types
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Engineered Wood Market Size Summary

The engineered wood market is poised for significant growth, driven by increasing construction and restoration activities in the post-pandemic period. The market is experiencing a resurgence, nearing pre-pandemic levels, with a notable demand from the non-residential sector and a rising adoption of cross-laminated timber (CLT) as a construction material. Despite challenges posed by stringent environmental concerns regarding formaldehyde emissions, opportunities abound in the growing residential construction sectors of India and China. The Asia-Pacific region is expected to lead the global market, with the highest consumption of engineered wood, supported by robust developments in residential and commercial construction.

Engineered wood finds extensive application across various sectors, including furniture, flooring, and structural components, with cross-laminated timber gaining traction in mid-rise and even skyscraper constructions. The market is further bolstered by increased public spending on residential construction in the United States and significant investments in smart city projects in India. The Asia-Pacific region, particularly China and India, is witnessing substantial growth in residential and commercial projects, with initiatives like 'Housing for All' and the development of low-cost housing driving demand. The market is partially consolidated, with key players like Weyerhaeuser Company and Boise Cascade expanding their operations to meet the growing demand.

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Engineered Wood Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Demand from the Non-residential Sector

      2. 1.1.2 Increasing Use of Cross-laminated Timber (CLT) as Construction Materials

    2. 1.2 Restraints

      1. 1.2.1 Stringent Environmental Concerns Related to Formaldehyde Emissions

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter Five Forces

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Application

      1. 2.1.1 Non-residential

      2. 2.1.2 Residential

    2. 2.2 Type

      1. 2.2.1 Plywood

      2. 2.2.2 Oriented Strand Board (OSB)

      3. 2.2.3 Glulam

      4. 2.2.4 Cross-laminated Timber (CLT)

      5. 2.2.5 Laminated Veneer Lumber (LVL)

      6. 2.2.6 Particleboard

      7. 2.2.7 Other Types

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Engineered Wood Market Size FAQs

The Engineered Wood Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Weyerhaeuser Company , Boise Cascade, Georgia-Pacific, Louisiana-Pacific Corporation and Roseburg Forest Products are the major companies operating in the Engineered Wood Market.

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