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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Laminated Veneer Lumber Market Growth
Laminated veneer lumber (LVL) is an engineered wood product. LVL’s strength and durability are comparable to steel and concrete structures. Its exceptional strength, lightweight, and sustainability are aiding its adoption in residential and commercial construction.
According to the International Energy Agency (IEA) in 2022, to achieve the Net Zero Emissions by 2050 Scenario (NZE Scenario), the construction sector globally, needs to retrofit at least 20% of its existing building stock to a zero-carbon-ready level by 2030. Compared to energy-intensive traditional building materials, such as cement, iron, and steel, LVL offers an eco-friendlier production while simultaneously serving as a carbon stock.
The carbon dioxide stored in wood remains in LVL products throughout their lifecycle and is not released back into the carbon cycle. LVL and CLT yield a substantial substitution effect of 1 – 2.5 tonnes CO2 for every cubic meter (m3) of engineered wood or 2 – 5 tonnes per ton of engineered wood, with a typical density of around 0.5 kg/m3. Engineered wood products are accredited by various sustainable certifications and green building programs, such as the Leadership in Energy and Environmental Design (LEED) certification.
In 2023, Mainland China held the majority of LEED-certified buildings globally, with 1,563 LEED projects.
Laminated Veneer Lumber Market Report Snapshots
Laminated Veneer Lumber Market Size
Laminated Veneer Lumber Market Growth
Laminated Veneer Lumber Market Trends
Laminated Veneer Lumber Market Share
Laminated Veneer Lumber Manufacturers
Laminated Veneer Lumber Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a volume of 5,116.8 thousand CBM in 2023.
The market is estimated to grow at a CAGR of 4.0% during 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a volume of 7,256.3 thousand CBM by 2032.
The factors driving the market growth are increasing inclination towards environmental safety and sustainability, rising adoption of wood as a construction material, and favourable government initiatives supporting the adoption of wood.
The key regional markets for laminated veneer lumber are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The end uses include construction and non-construction.
The applications include residential, commercial, and others.
The key players in the market include Murphy Company, METSÄ Group Companies, Roseburg Forest Products Co., STEICO SE, Stora Enso Oyj, Boise Cascade Company, Weyerhaeuser Company, Pacific Woodtech Corporation, and Juken New Zealand Ltd. among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124