EIN Presswire

Engineered Wood Market Outlook, Analysis & Industry Forecast, 2020–2027

The engineered wood market is mainly driven by increase in substitution of engineered wood for building materials.

PORTLAND, OR, UNITED STATES, October 5, 2021 /EINPresswire.com/ — The furniture segment dominated the engineered wood market, followed by the construction segment. The engineered wood market includes revenue generated by products used in several industries such as construction, furniture, and packaging. Engineered wood is also called mass timber or man-made wood or manufactured boards.

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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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. Further, rise in renovation and remodeling of old structures in developed nation of North America and Europe drives the engineered wood market.

Top 10 Leading Players

Boise Cascade Company
Celulosa Arauco Y Constitucion SA
Huber Engineered Woods 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)
Glulam (Glued Laminated Timber)
Oriented Strand Boards (OSB)
Cross-Laminated Timber (CLT)
Others

By Application

Construction
Furniture
Flooring
Packaging
Others

By End-User

Residential
Commercial & Industrial

By Region

North America
Europe
Asia-Pacific
LAMEA

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David Correa
Allied Analytics LLP
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