The engineered wood market is mainly driven by increase in substitution of engineered wood for building materials.
PORTLAND, OR, UNITED STATES, November 16, 2021 /EINPresswire.com/ — The engineered wood being cost effective and environment friendly is preferred over other wood and cement products that emit harmful bi-products while manufacturing. In addition, subsidies provided by governments over green building material encourages builders and architects to use engineered wood products. Moreover, companies have keenly looked after products to enhance their aesthetics.
The engineered wood market size accounted for $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 Market by Type (I-Beams, Plywood, Laminated Veneer Lumber (LVL), Glulam (Glued Laminated Timber), and Oriented Strand Boards (OSB), Cross-Laminated Timber (CLT), and Others), Application (Construction, Furniture, Flooring, Packaging, and Others) and End User (Residential and Commercial & Industrial)
Further, rise in renovation and remodeling of old structures in developed nation of North America and Europe drives the engineered wood market. However, cheap and easily available plastic, rubber, and synthetic materials over engineered wood act as restraint to the engineered wood market. Similarly, plastic laminates also hamper sales of engineered wood.
Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging engineered wood market trends and dynamics.
In-depth engineered wood market analysis is conducted by estimations for the key segments between 2020 and 2027.
Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
The market forecast analysis from 2020 to 2027 is included in the report.
The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the market industry.
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Top 10 Leading Players
Boise Cascade Company
Celulosa Arauco Y Constitucion SA
Huber Engineered Woods LLC
Louisiana-Pacific Corporation (LP)
Patrick Industries, Inc.
Shenzhen Risewell Industry Co., Ltd
Universal Forest Products, Inc.