Global Engineered Wood Market Growth Analysis Report - Market Size, Share, Forecast Trends and Outlook (2024-2032)

Global Engineered Wood Market Size

The global engineered wood market reached a value of approximately USD 331.24 billion in 2023. The market is further expected to grow at a CAGR of 6.1% between 2024 and 2032, reaching a value of USD 564.43 billion by 2032.

Key Trends in the Market

Engineered wood, also termed as man-made wood, is a type of wood that is made by binding pieces of scrap wood, sawdust, real wood, or shredded wood fibres using adhesives. It is called engineered wood because it is bonded together to form a stronger and stiffer end product.

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• The demand for engineered wood is rising from the construction industry due to its sustainability and as it offers similar strength and density as an old growth timber.

• Growing utilisation of engineered wood instead of greenhouse gas emission intensive materials such as steel, aluminium, and concrete is reducing the emission of greenhouse gases, and aiding the growth of the engineered wood market.

• The rising trend of remodelling and renovating older homes and growing demand for wooden floorings are major factors increasing the utilisation of engineered woods in various countries across the globe.

Engineered Wood Market Analysis

Based on type, the market is segmented into I-beams, plywood, laminated veneer lumber (LVL), glulam (glued laminated timber), oriented strand boards (OSB), and cross laminated timber (CLT), among others. On the basis of end-use, the market is divided into residential, and commercial and industrial. By application, the market is categorised into construction, furniture, flooring, and packaging, among others. On the basis of region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global engineered wood market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Boise Cascade Company

• Arauco Wood Products, Inc.

• Huber Engineered Woods LLC

• Louisiana-Pacific Corporation

• West Fraser Timber Co. Ltd.

• Raute Corporation

• UFP Industries, Inc.

• Weyerhaeuser Company

• Stora Enso Oyj

• Resolute Forest Products

• Century Plyboards (India) Ltd

• Others

Engineered Wood Market Share

Residential sector is expected to account for a significant share in the engineered wood market. This is due to the rising utilisation of engineered wood in the construction of various products essential for a home such as flooring, doors, cabinets, staircases, and roofs, among others. However, commercial and industrial end-uses of engineered wood are also expected to rise, supported by the increasing demand for cross laminated timber for the growing construction of skyscrapers and offices.

The Asia Pacific accounts for a large share of the market for engineered wood owing to the rising construction activities in countries such as India and China. Moreover, the growing concerns towards environment among individuals is fuelling the demand for eco-friendly products such as the engineered wood in the region. They require less tree per plank in comparison to solid hardwoods which making them more environmentally sustainable.

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Competitive Landscape of Engineered Wood Industry

Boise Cascade Company was founded in 1957 and is headquartered in Idaho in the United States. The company manufactures and distributes wood products and building materials to commercial and residential industries globally.

Arauco Wood Products, Inc. is a wood manufacturing company that was established in 1995 and is headquartered in Georgia in the United States. They specialise in thermally fused laminate panels, high density fibreboard composite panels, and decorative laminates, among others.

Huber Engineered Woods LLC was founded in 2003 and has its headquarters located in North Carolina, United States. This wood company is known globally for creating specialty products such as ZIP system walls and roof sheathing, among other products.

Other market players include Louisiana-Pacific Corporation, West Fraser Timber Co. Ltd., Raute Corporation, UFP Industries, Inc., Weyerhaeuser Company, Stora Enso Oyj, Resolute Forest Products, and Century Plyboards (India) Ltd, among others.

Key Highlights of the Report

Engineered Wood Market Report Snapshots

Engineered Wood Market Size

Engineered Wood Market Analysis

Engineered Wood Market Share

Engineered Wood Companies