The engineered wood market is mainly driven by the increasing substitution of engineered wood for construction materials.
PORTLAND, OR, USA, Oct. 5, 2021 /EINPresswire.com/ – The furniture segment dominated the engineered wood market, followed by the construction segment. The engineered wood market includes the revenue generated by the products used in several industries such as construction, furniture and packaging. Engineered wood is also referred to as solid wood or artificial wood or manufactured planks.
The engineered wood market size was $ 284,761.1 million in 2019 and is expected to reach $ 400,450.9 million by 2027, registering a CAGR of 6.2% from 2020 to 2027.
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Engineered wood being cost effective and environmentally friendly is preferred over other wood and cement products that emit harmful by-products during manufacturing. In addition, government grants on green building materials encourage builders and architects to use engineered wood products. In addition, companies have taken great care of the products to improve their aesthetics. In addition, the increase in renovation and remodeling of old structures in developed countries of North America and Europe is boosting the engineered wood market.
Top 10 major players
Boise Cascade Company
Celulosa Arauco Y Constitucion SA
Huber Engineered Wood LLC
Louisiana-Pacific Corporation (LP)
Norbord inc.
Patrick Industries, Inc.
Raute Group
Shenzhen Risewell Industry Co., Ltd
Universal Forest Products, Inc.
Weyerhaeuser Company
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Key market segmentation
By type
I-beams
Plywood
Laminated veneer lumber (LVL)
Glued laminated timber (glued laminated timber)
Oriented strand board (OSB)
Cross-laminated timber (CLT)
Others
By application
Construction
Furniture
Ground
Packaging
Others
By end user
Residential
Commercial and industrial
By region
North America
Europe
Asia Pacific
LAMEA
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