The global engineered wood market reached a volume of 254.4 Million Cubic Metres in 2021. Looking forward, IMARC Group expects the market to reach 374.1 Million Cubic Metres by 2027, exhibiting a CAGR of 6.30% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Engineered wood, also known as composite wood, is made by binding particles, strands, fibers, veneers, or thin wood boards with adhesives. It is durable, waterproof, cost-effective, eco-friendly, moisture-resistant, and easier to clean as compared to its counterparts. It is widely used in modular kitchens, bookshelves, floors, walls, doors, tables and benches, boats, and wardrobes. At present, the growing traction of advanced grading wood among consumers is catalyzing the demand for engineered wood across the globe.

Engineered Wood Market Trends:
The growing demand for engineered wood as a substitute for emission-intensive materials, such as concrete, steel, and aluminum, to reduce greenhouse gases represents one of the key factors driving the market. Moreover, there is a rise in the innovation and remodeling of homes, especially in developed countries. This, along with increasing investments by governments of several countries in housing projects, is propelling the growth of the market. Additionally, there is a rise in the demand for cross-laminated timber (CLT) as a construction material across the globe. This, coupled with the growing applications of oriented strand board (OSB) in residential applications like walls, flooring, and roofs, is positively influencing the market. Besides this, increasing research and development (R&D) programs to introduce advanced variants of engineered wood that assist in sustainable construction is offering lucrative growth opportunities to industry investors. Apart from this, the escalating demand for aesthetically appealing furniture with stylish curves, arches, embossing, and trim, is bolstering the growth of the market. Some of the other factors anticipated to strengthen the growth of the market are rapid industrialization, improvement in the living standards of individuals, and the increasing demand for prefabricated houses worldwide.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global engineered wood market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, application and end user.

Breakup by Type:

I-Beams
Plywood
Laminated Veneer Lumber (LVL)
Glulam (Glued Laminated Timber)
Oriented Strand Boards (OSB)
Cross-Laminated Timber (CLT)
Others

Breakup by Application:

Construction
Furniture
Flooring
Packaging
Others

Breakup by End User:

Residential
Commercial and Industrial

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Boise Cascade Company, Havwoods Ltd, Huber Engineered Woods LLC (J.M. Huber Corporation), Louisiana-Pacific Corporation, Mayr-Melnhof Holz Holding AG, Nordic Structures, Pacific Woodtech Corporation (Daiken Corporation), Roseburg Forest Products Co. (Wilsonart), Stora Enso Oyj, Ufp Industries Inc., West Fraser Timber Co. Ltd and Weyerhaeuser Company.

Key questions answered in this report:
How has the global engineered wood market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global engineered wood market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global engineered wood market and who are the key players?
What is the degree of competition in the industry?