Engineered Wood Market

Key Insights

The Global Engineered Wood Market is valued at USD 354.40 Billion in 2023 and is projected to reach a value of USD 572 Billion by 2032 at a CAGR (Compound Annual Growth Rate) of 6.17% between 2024 and 2032.

Overview and Description

Engineered Wood, also called mass timber, composite wood, man-made wood, or manufactured board, includes a range of derivative wood products which are manufactured by binding or fixing the strands, particles, fibres, or veneers or boards of wood, together with adhesives, or other methods of fixation to form composite material.

This report provides an analysis of the Engineered Wood market for the historic period of 2019–2022 and forecasts for 2023–2032 while 2022 is considered as a base year for estimations. The report includes exhaustive analysis of segments, regions and countries comprising of market size and estimations in terms of revenue for the years 2019–2032. There regional section of the report is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Moreover, the report also covers a thorough insights on various tools such as SWOT analysis, PEST analysis, value chain analysis, Porter’s five forces analysis, pricing analysis, and technology roadmap among others. These assessments aid the industry stakeholders to analyze the Engineered Wood market on the basis of different parameters, such as forward/backward integration, economies of scale, the share of various distribution channels, various factors affecting consumer behavior such as brand loyalty, price, and product availability among others, capital investments, regulatory landscape, production rights and patents, promotional strategies, and other customer preferences. This data is likely to help the industry stakeholders and stimulate the decision-making process.

COVID-19 Impact Analysis

The COVID-19 outbreak has affected various industries worldwide. The Engineered Wood market is no exception. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop swift spread of COVID-19. These actions led to severe impact on the global economy. Industrialist across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

• Impact Assessment of COVID-19 Pandemic
• Pre & Post COVID-19 Market Size
• Qualitative analysis on the short term & long-term impact of COVID-19 on the market
• The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Industry Analysis

The report covers exhaustive analysis on the global Engineered Wood industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. It includes an extensive competitive landscape covering key players in the industry and their comparative study on the basis of different parameters such as company overview, product portfolio, market revenue, business, and marketing strategies. Moreover, the report covers a thorough analysis drivers, restraints, and opportunities considering regional growth factors, technological advancements, and availability of substitute, regulatory norms, and such other growth impacting factors.

• As compared to solid wood furniture the Engineered Wood furniture is available at affordable rates. The Engineered Wood furniture pieces are manufactured using machines and are readily available in the market. These are the primary factors driving the market.
• The wood is pre-laminated that in turn increases the durability and beauty of the furniture. Engineered Wood is light in weight and are easy to transport from one place to another. These are also some determinants fueling the market growth.
• Egineered wood also lacks the grace and elegance of solid wood, hard to repair, less durability, and stringent concerns regarding environment, are some factors restraining the market growth of Engineered Wood market.

Market Segmentation

The report delivers an acute breakdown of the market based on various segments such as Type, Application, and region. The report will cover market estimations and forecast for each segment by region for the years 2019–2032. Several growth factors and opportunities impacting various segments have been incorporated in the report.

On the basis of Type, the market is divided into I-Beams, plywood, laminated veneer lumber (LVL), glulam (glued laminated timber), oriented strand boards (OSB), cross-laminated timber (CLT), others. plywood held the largest share in 2022 and is projected to witness substantial growth during the forecast period.

Based on Application, the market is divided into construction, furniture, flooring, packaging, others. furniture attributed to the highest market share and is expected to grow at a significant CAGR from 2023 to 2032.

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Regional Analysis: Preview

Based on the geography, the global Engineered Wood market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The regional analysis covers market estimations and forecast for each segment for each region for the years 2019–2032. The regional analysis section also provides qualitative analysis comprising of regional trends such as drivers, restraints, opportunities and regulatory norms. Moreover, the regional sections if further bifurcated into key country level markets for better understanding of the market.

Competitive Landscape

The global Engineered Wood market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Engineered Wood market are 84 Lumber Company, Universal Forests Products Inc., Louisiana Pacific Corporation, Nordic Structures, Patrick industries, Shenzhen Risewell Industry, Rockshield Engineered Wood products, Georgia Pacific Wood Products, Norbord Inc., Lowes Companies, Weyerhaeuser Company, Huber Engineered Wood, Roseburg Forest Product Company. This section of the report comprising of a thorough profiling of companies based on various parameters such as company/business overview, portfolio analysis, business strategies, financial performance, geographical presence, and recent developments among others. Moreover, the report also includes extensive information on key strategies such as new product development/launch, merger & acquisitions, partnerships, collaborations & joint ventures, research & development, and regional expansion.

The global Engineered Wood market can be categorized as Type, Application, End-Use Industry, and Region.