Future of Engineered Wood Panels Market Along with Global Industry Size, Share, Major Manufactures and Regional Trends 2023

Global Engineered Wood Panels Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Country-level Analysis for Every Segment, Key Player's Market Share Analysis, Competitive Landscape and Supply Chain Analysis.

Pune , India - June 7, 2019 /MarketersMedia/ —

Engineered Wood Panels Market Research Report 2019: Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation By Product Type (Plywood, Laminated Veneer Lumber (LVL), Glulam, I-beams and Cross Laminated Timber (CLT)) and Application (Residential and Non-residential) -and Region - Forecast To 2023

Market Synopsis:

According to Market Research Future (MRFR)’s analysis, the global engineered wood market is set to touch a valuation of USD 24.12 Mn by the end of the assessment period 2017 to 2023. The report also suggests that the market is expected to strike a CAGR of 12.82% over the forecast period. Engineered wood offers key advantages such as eco-friendly, const-efficiency, etc. which is anticipated to propel the expansion of the market over the next couple of years.

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Carbon emission norms are expected to drive the growth of the market in the forthcoming years. Also, the expansion of the construction sector is poised to reflect on the growth pattern of the engineered wood market positively across the review period. These products facilitate reduction of waste and cutting of disposable costs which are the major factors responsible for catalyzing adoption of engineered wood in the construction industry. An upsurge in demand for these products is forecasted for both residential and non-residential applications. It is likely to augment the engineered wood market in the foreseeable future.

Engineered wood has higher resistance to moisture and temperature variation which makes it eligible for offering customized offerings to the consumers. It is presumed to accelerate revenue creation for the participants of the engineered wood market. On the flip side, the concerns regarding fire resistance and durability are prognosticated to undermine market growth.

Competitive Dashboard:

Some of the noted players operating in the global engineered wood market profiled in this MRFR report are-

• Celulosa Arauco y Constitución (Chile)
• Lowe's Companies Inc.(U.S.)
• Rockshield Engineered Wood products ULC (U.S.)
• Boise Cascade Company (U.S.)
• Roseburg Forest Products (U.S.)
• Georgia Pacific Wood Products LLC (U.S.)
• Weyerhaeuser (U.S.)
• Universal Forests Products Inc. (U.S.)
• CST Timber Co (U.S.)
• Huber Engineered Wood LLC (U.S.)
• Kahrs Group (Sweden)

Industry News:

In April 2019, future STEM Teaching and Learning Facility of the Michigan State University has announced USD 100 Mn investment for construction which will be the first in the university to use solid or engineered wood.

In April 2019, US LBM Holdings, LLC, a leading supplier of engineered wood, lumber, fasteners, floor and roof truss systems, has announced the acquisition of BM Windows, a provider of sales, distribution, and installation services for doors and windows.

In March 2019, a Castlegar-based family-owned business, Kalesnikoff Lumber, has announced the investment of USD 35 Mn in an engineered wood manufacturing plant.

Global Engineered Wood Market - Competitive Analysis

The market is observing stiff competition which is expected to get more intensified during the forecast period. The players have adopted various strategies to increase their market positioning, and brand value.

Composite Wood Company participated in the Great FIT 2017. The Composite Wood stand at K1 in Hall 7 expected to give visitors a chance to observe the home improvement. At the FIT Show, the company was expected to launch some new products.

Georgia-Pacific Wood Products LLC announced that it entered an agreement for a patent license with Huber Engineered Woods LLC. This is to settle litigation related to the company’s ForceField System products. HEW, owns a portfolio of patents and associated pending applications for a structural system integrating water resistant and air barrier technologies that is used to streamline the weatherization process.

In 2016, Huber Engineered Woods LLC announced the reopening of its Spring City, Tennessee, oriented strand board (OSB) facility. The facility is expected tom reopen in 2018. The company takes the step in anticipation that the operational investment will increase their production capacity and further help them to enhance their product availability and efficient customer service.

In 2017, The UFP-Edge Rustic Collection launched new product line. This features new lumber that is distressed, primed and painted and is available in both 1x6 shiplap interior siding up to 12 ft. long and 1x4 trim boards up to 8 ft. long. It comes with various color options. Unfinished variants are also available to be customized later. The company feels their brand with such product launches continues to add value to both contractors and the DIY market.

Market Segmentation:

By product type, the global engineered wood market has been segmented into plywood, Laminated Veneer Lumber (LVL), glulam, I-beams and Cross Laminated Timber (CLT).

By application, the engineered wood market has been segmented into residential and non-residential.

Regional Analysis:

By region, the global engineered wood market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). Europe accounts for a major share of the market and is poised to maintain its prominence in the upcoming years. The towering demand from the construction sector has been forecasted to expedite the expansion of the engineered wood market over the next couple of years. Increasing economic activities in the construction industry in conjunction with the strict emission norms enforced by the European Union are poised to boost the growth trajectory of the market through the projection period.

Scope of Report

The report for Global Engineered Wood Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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