(MENAFN-PR Newswire) DUBLIN , Nov. 6, 2023 /PRNewswire/ -- The
"Engineered Wood Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2023-2028" report has been added to the report
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The global engineered wood market has shown tremendous growth, reaching 273.5 million cubic meters in 2022. A bright future lies ahead, with the market expected to reach 392.3 million cubic meters by 2028, at a high compound annual growth rate (CAGR). . ) by 5.9% in the period 2023-2028.
Engineered wood, also known as composite wood, is made by joining fine wood particles, fibers, fibers, veneers or panels with glue. Known for its durability, waterproof properties, cost-effectiveness, environmental friendliness, moisture resistance and easy cleaning, engineered wood can be used versatilely in modular kitchens, shelves, floors, walls, doors, tables, benches, boats and cabinets. Today, consumers' increasing preference for premium wood is driving the demand for engineered wood around the world.
Engineered Lumber Market Trends:
Some trends shaping the global engineered wood market:
Sustainable construction: The growing demand for engineered wood as a sustainable substitute for emission-intensive materials such as concrete, steel and aluminum is a major driver of market growth. Home innovation and renovation: Home innovation and renovation, especially in developed countries, along with public investment in housing projects, is driving market expansion. Glued Laminated Timber (CLT): The growing global demand for Glulam (CLT) as a building material and the growing use of Oriented Strand Board (OSB) panels in residential applications are positively impacting the market. Research and development initiatives: Ongoing research and development (R&D) efforts aimed at introducing advanced variants of engineered wood for sustainable construction offer lucrative opportunities for investors in the sector. Aesthetic Furniture: The growing demand for aesthetically appealing furniture with elegant features such as curves, curves, embossing and embellishments is driving the growth of the market. Global industrialization: Rapid industrialization, rising living standards, and growing demand for prefabricated houses across the globe are additional factors driving the growth of the market.Main Market Segmentation:
The market analysis covers the main segments:
- Old:
- I-ray Plywood Micro Laminated Wood (LVL) Glued laminated wood (glued laminated wood) Oriented Strand Board (OSB) Cross Laminated Timber (CLT) Other (I-beam is the largest segment)
- Building Furniture Earth PACKAGING Other (construction represents the largest segment)
- Residential area Commercial and Industrial
Regional Overview:
The market analysis covers important regional markets:
- North America: (United States and Canada)
- North America leads the engineered wood market, driven by emphasis on data privacy and security, increased cyber attacks, and supportive government initiatives.
- Europe is growing due to the need for data security and regulatory compliance.
- Asia Pacific is experiencing significant growth due to the adoption of digital payment technology and concerns about cyber security.
- Latin America is experiencing expansion driven by increased awareness of data security and the rise of digital payments.
Competitive landscape:
This report provides a comprehensive analysis of the competitive landscape in the global engineered wood market. It includes market structure, market share of key players, player positions, key winning strategies, competitive dashboards and business scoreboards. Detailed profiles of major companies, such as Boise Cascade Company, Havwoods Ltd, Huber Engineered Woods LLC (JM Huber Corporation), Louisiana-Pacific Corporation, Mayr-Melnhof Holz Holding AG, Nordic Structures, Pacific Woodtech Corporation (Daiken Forest Corporation), Products Co (Wilsonart), Stora Enso Oyj, Ufp Industries Inc., West Fraser Timber Co. Ltd, Weyerhaeuser Company and others are provided.
Key questions answered in this report:
What will be the size of the global composite wood market in 2022? What is the estimated growth rate of global engineered wood market during 2023-2028? How will COVID-19 affect the global engineered wood market? What are the key factors driving the global composite wood market? What is the market segmentation by type, application and end user? Which region is the main market for processed wood? – Who are the key global players in this composite wood market?For more information on this report, visit
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