Global Manufactured Wood Materials Market Trends And Strategies Of Major Players In The Manufactured Wood Materials Market 2021-2030
5 Jan, 2021
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The manufactured wood materials market consists of sales of produced wood materials by entities (organizations, sole traders and partnerships) that produce veneer, plywood, engineered wood and reconstituted wood products. Some products produced by this industry include hardwood and softwood veneer, fabricated and laminated wood arches, wood roof, floor trusses, wood sheets and boards. The manufactured wood materials industry involves various types of procedures used to convert raw wood to produce wood materials by binding or fixing strands, particles, fibers, veneers or boards of wood with adhesives or other methods in order to form composite materials.
Global Manufactured Wood Materials Market Size And Drivers:
The global manufactured wood materials market reached a value of nearly $264.6 billion in 2019, having increased at a compound annual growth rate (CAGR) of 6.9% since 2015. The market is expected to decline from $264.6 billion in 2019 to $256.9 billion in 2020 at a rate of -2.92%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8.07% from 2021 ad reach $315.7 billion in 2023. The market is expected to reach $367.4 billion by 2025, and $525.4 billion by 2030. Increasing concerns of global warming and climate change have significantly shifted the consumer preference towards eco-friendly furniture which has enabled the manufacturers to develop furniture using eco-friendly materials.
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Trends In The Global Manufactured Wood Materials Market
The engineered wood products segment is gaining popularity and is the fastest growing segment in manufactured wood materials market. Engineered wood is manufactured by binding veneers, boards of wood, fibers and particles with adhesives and it is widely used by customers in the construction industry. They are pre-finished, durable, water resistant and easier to mount. Engineered wood products include I-beams, laminated veneer lumber products and glulam products. I-beam is widely used in load-bearing commercial and residential applications. These beams are of high-strength and are used to manufacture supporting structures. The end users of engineered wood products are non-residential floors manufacturers, floor and roof remodelers and new residential roof manufacturers.
Global Manufactured Wood Materials Market Segments:
The global manufactured wood materials market is further segmented based on type, type of plant, application and geography.
By Type: Reconstituted Wood, Plywood, Veneer Sheets.
By Type of Plant: Beech, Oak, Others.
By Application: Residential, Commercial.
By Geography: The global manufactured wood materials market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, the Asia Pacific manufactured wood materials market accounts for the largest share 49.9% in the global manufactured wood materials market 2019.
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Manufactured Wood Materials Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides manufactured wood materials market overviews, analyzes and forecasts market size and growth for the global manufactured wood materials market, manufactured wood materials market share, manufactured wood materials market players, manufactured wood materials market segments and geographies, manufactured wood materials market’s leading competitors’ revenues, profiles and market shares. The manufactured wood materials market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.