The engineered wood, sometimes known as man-made wood or composite wood, is used as a substitute to hardwood and concrete in the construction sector. Latest report on the global engineered wood market, published by Market Research Future (MRFR), asserts that this market could witness progress at 12.82% CAGR between 2017 and 2023. By value, the market can be worth the USD 24.12 Mn by the end of the forecast period.
The primary factor advancing the global engineered wood market growth is a set of advantages that are offered by engineered wood. Such advantages include ease of customization, cost efficiency, better quality, waste reduction, longevity, easy maintenance, and uniqueness of colorful design. Other factors backing the market include growing demand for engineered wood, reduced disposal costs, less product damage, eco-friendly nature, less labor cost, and lastly, government regulations to encourage the use of engineered wood.
Market Segmentation
The global engineered wood market segmentation covers the application and product type. MRFR’s report peeks into the market to understand various facets of the market.
The application-based segmentation of this market covers residential and non-residential. Based product type, the market has been segmented into Cross Laminated Timber (CLT), Glulam, Laminated Veneer Lumber (LVL), I-beams, and Plywood.
Regional Segmentation
A geographical outlining of the global engineered wood market encompasses Asia Pacific, Europe, North America, and Rest of the World (RoW).
Asia Pacific region holds the dominating share in the global market due to rising demand from countries like China and India. Market growth in these two countries has made the Asia Pacific region, the fastest-growing regional market. Growing demand from the residential & non-residential construction industries is also driving the market growth. Technological advancement makes Japan a prominent country-specific market of this region.
Holding a major market share, Europe occupies a dominating position in the global market due to the growing use of engineered wood products in construction and increased cost competitiveness. New construction business models are promoting institutional changes that include revising wood-framed multi-storey building standards. Vital country-specific markets in this region include France, Germany, Spain, and the UK.
In North America, the market is strong due to technological advancement, the existence of strong infrastructure, and the presence of major market players in the USA. After USA, Canada is the most important country-specific market.
Key Players
Major players in the global engineered wood market include Boise Cascade Company (USA), Celulosa Arauco y Constitución (Chile), CST Timber Co (USA), Georgia Pacific Wood Products LLC (USA), Huber Engineered Wood LLC (USA), Kahrs Group (Sweden), Lowe's Companies Inc.(USA), Rockshield Engineered Wood products ULC (USA), Roseburg Forest Products (USA), Universal Forests Products Inc. (USA), and Weyerhaeuser (USA).
Latest Industry News
- For the renovation of two buildings in Surrey-based Cranleigh School in the UK, the laminated veneer lumber (LVL) products of Metsä Wood's Kerto have been used. The newly renovated structure has been turned into the van Hasselt Centre. 31 JUL 2019
- Structural wood products distributor Eastern Engineered Wood Products and patented WEBshield panel manufacturer Pinkwood have forged a partnership. Under the terms of the partnership, the two businesses have reached a distribution agreement to business with pro lumber dealers, component manufacturers, and regional wholesalers, in New England and through the Mid-Atlantic and North Eastern states. 26 JUL 2019
- On the lines of 18-storey Brock Commons tower in Vancouver, the Canadian Government has sanctioned some initiatives to sanction the use of engineered wood to construct similar skyscrapers in different cities of Canada. 22 JUL 2019
- To facilitate a cross-laminated timber (CLT) unit in its Ždírec mill in the Czech Republic, Stora Enso has initiated feasibility studies. Stora Enso is also sending a new construction beam unit to Ybbs mill in Austria. The company has plans to consolidate production with an increased focus on efficiency and to streamline the asset base. 19 JUL 2019
Astute Analytica published a new report on the Global Engineered Wood Market, the research study offers analysis and detailed insights on key market dynamics include growth drivers, restraint factors, challenges, opportunity analysis, and trends.
The research report also includes a detailed analysis of market segmentation, competitive landscape, market vendors and estimated market size in qualitative and quantitative methods.The global Engineered Wood market is anticipated to witness a remarkable growth at substantial CAGR of 6% over the forecast period i.e., 2021-2027.
In the past years, the global Engineered Wood Market has shown a significant growth rate and is projected to display a positive development in the upcoming years.
The research report offers a thorough and detailed analysis of key market players that registered an active participation in the global Engineered Wood Market.To know more about report scope and depth of data heads analyzed, request for Sample @ https://www.astuteanalytica.com/request-sample/engineered-wood-marketThe research study includes the chapters that explains about operating business segments, key strategic developments, product portfolio and business performance.
Companies profiled in the Engineered Wood Market are A Flooring, ALAMCO Wood Products, LLC, Boise Cascade Company, Celulosa Arauco y Constitución S.A, D.R.
Johnson Wood Innovations, Daiken, Eagle Plywood Specialties, FraserWood Industries Ltd., Georgia-Pacific Wood Products LLC, Hardel Mutual Plywood Corporation, Havwoods, Huber Engineered Woods LLC, Louisiana-Pacific Corporation, Natron Wood Products, Norbord Inc., Nordic Homeworx LLC, Pacific Woodtech Corporation, Patrick Industries, Incand among other prominent players.
As per Market Research Future (MRFR), the Global Engineered Wood Market is estimated to grow at USD 24.12 million at a CAGR of 12.82% from 2017 to 2023 (forecast period).
The report provides a systematic and in-depth review of the effect of the COVID-19 pandemic on the global engineered wood industry.Engineered wood, also known as man-made or composite wood, has become popular in construction as it is used as a replacement for hardwood and concrete.
As a result, the global market for engineered wood is projected to rise steadily in the forecast period.Engineered Wood Market Size products are an excellent option for construction as they are made of recycled wood and, hence, serve as environmentally friendly alternatives.
They are manufactured for years of trouble-free and dependable use.
It helps to minimize waste by reducing disposal costs and damaging the product.
It is referred to as one of the best materials of choice for residential and non-residential infrastructure over the last few decades due to its modern enhancement on a construction characteristic.
The global engineered wood market is projected to grow at a CAGR of 12.82% during the forecast period.
As per the engineered wood market research report, the global market for engineered wood is projected to grow swiftly by US$24.12 million by 2023.
According to analysts, scarcity of wood products as well as government norms and regulations will drive the market growth during the forecast period.
The engineered wood market research report by expert analysts is developed to assist organizations in the engineered wood market.Get Free Sample PDF @ https://www.marketresearchfuture.com/sample_request/4791Market SegmentationThe global engineered wood market has been segmented into product types and applications.
By product type, the global market has been segmented into plywood, laminated veneer lumber (LVL), glulam, I-beams, and cross laminated timber (CLT).By application, the global engineered wood market has been segmented into residential and non-residential.
This market has increased rapidly in the past decade despite the economic downturn.
Would you like to learn more about engineered wood flooring?Are you aware of its advantages and disadvantages?Well, as you are here on this page, you obviously have a bit idea of Wood Flooring and its engineered version.
So, let take this journey of learning a little more forward and know about the types of engineered flooring and its benefits.But before you get into technicalities, let’s revise the definition of engineered wood flooring.Understand engineered wood flooringEngineered here refer to manufacturing done at the factory level.
Manufacturers place the natural wood layer of their choices facing the plywood base, fixed using adhesive.
Engineered wood is also popular by the name composite wood, manufactured board, etc.The types of engineered wood flooring available with sellersEngineered wood flooring comes in twotypes –2-layerAt EcoHardwood, the 2-layer flooring is made up of top layer and base layer.
Both the top and base layer are compressed together to form 2-layer Engineered Wood Flooring for your house.
The layers are joined together with Formaldehyde-free PUR adhesive, which is strong and prevents delamination.The 2-layer option is best for underfloor heating and easy to install.
