USD 314.50 billion
Report ID: SQMIG20B2046 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 62 | Figures: 75
Engineered Wood Market size was valued at USD 314.50 billion in 2021 and is poised to grow from USD 333.74 billion in 2022 to USD 536.77 billion by 2030, growing at a CAGR of 6.12% in the forecast period (2023-2030).
The Global Engineered Wood Market is experiencing significant growth due to several factors. Engineered wood, also known as composite wood or man-made wood, offers a cost-effective and sustainable alternative to traditional solid wood products.
With the increasing demand for environmentally friendly construction materials, engineered wood is gaining traction in the market. It offers several advantages such as dimensional stability, durability, and resistance to moisture and pests.
Moreover, the growing focus on green building practices and stringent regulations regarding sustainable construction materials are driving the market growth. Additionally, the rising urbanization and construction activities in emerging economies are further fueling the demand for engineered wood products.
Overall, the Global Engineered Wood Market is poised for steady growth in the coming years.
US Engineered Wood Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 314.50 billion
To get more reports on the above market click here to Buy The Report
The global engineered wood market is segmented by type, application, and region. Based on type, the market can be segmented into plywood, oriented strand board (OSB), laminated veneer lumber (LVL), and glued laminated timber (glulam). Based on application, the market is segmented into mechanical testing and fire resistance testing. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Engineered Wood Market Analysis by Type
Among these sub-segments, plywood is the dominant type in the engineered wood market. Plywood is widely used in construction, furniture manufacturing, and other applications due to its versatility, strength, and cost-effectiveness. It is made by bonding layers of thin wood veneers together, creating a strong and stable panel.
The fastest growing sub-segment of testing type in the engineered wood market is oriented strand board (OSB). OSB is made by layering strands of wood in specific orientations and then compressing them together with resin binders. It offers excellent structural performance and is commonly used in sheathing, flooring, and roofing applications in the construction industry. The growing demand for cost-effective and sustainable construction materials is driving the adoption of OSB in the market.
Engineered Wood Market Analysis by Application
The dominant sub-segment of testing type in the Engineered Wood market is mechanical testing. Mechanical testing involves evaluating the strength, stiffness, and durability properties of engineered wood products. This type of testing is crucial in ensuring that engineered wood meets the required performance standards and can withstand various loads and stresses.
The fastest-growing sub-segment of testing type in the Engineered Wood market is fire resistance testing. With increasing concerns about fire safety, there is a growing demand for engineered wood products that exhibit high fire resistance. Fire resistance testing involves assessing the ability of engineered wood to withstand fire and limit the spread of flames, contributing to enhanced building safety and code compliance.
To get detailed analysis on other segments, Request For Sample Report
One dominant region in the global engineered wood market is North America. North America is a significant market for engineered wood due to the high demand for construction materials in the region. The region is characterized by a strong residential and commercial construction sector, which drives the demand for engineered wood products such as plywood, particleboard, and laminated veneer lumber. The presence of key players, technological advancements, and favorable government regulations supporting sustainable building practices further contribute to the dominance of North America in the engineered wood market.
One of the fastest-growing regions in the global engineered wood market is Asia Pacific. The Asia Pacific region is experiencing rapid urbanization, industrialization, and infrastructure development, which is driving the demand for engineered wood products. Countries such as China, India, and Japan are witnessing significant growth in the construction sector, leading to increased consumption of engineered wood materials. Additionally, rising disposable incomes, changing lifestyles, and a growing preference for eco-friendly construction materials are further fueling the demand for engineered wood in the region. The Asia Pacific region is expected to continue its robust growth in the coming years, supported by favorable government initiatives and increasing awareness about sustainable building practices.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Engineered Wood Market Drivers
Increasing Focus On Sustainable Construction Materials
Engineered Wood Market Restraints
Potential For Moisture Damage
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The global market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Engineered Woods. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions.
Engineered Wood Market Top Player’s Company Profiles
Engineered Wood Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global market is experiencing significant growth due to various factors such as the increasing demand for sustainable construction materials, rising urbanization, and advancements in manufacturing technologies. Engineered wood, also known as composite wood or man-made wood, is manufactured by binding together strands, particles, fibers, or veneers of wood with adhesives to create a strong and versatile material. It offers several advantages over traditional solid wood, including enhanced strength, dimensional stability, and resistance to moisture and pests. The market is witnessing a surge in demand from the construction and furniture industries, driven by the need for cost-effective and sustainable alternatives to solid wood. Additionally, the growing focus on green building practices and sustainable development is expected to drive the market's growth in the coming years.
|Market size value in 2021
|USD 314.50 billion
|Market size value in 2030
|USD 536.77 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Engineered Wood Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Engineered Wood Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Engineered Wood Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Engineered Wood Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.