Manufactured Wood Materials Market Characteristics
The produced wood materials market consists of sales of produced wood materials by entities (organizations, sole traders and partnerships) that produce veneer, plywood, engineered wood members 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.
Competitive Landscape of the Manufactured Wood Materials Market
Major players in the global manufactured wood materials market include Georgia-Pacific Corporation, Weyerhaeuser Company, Celulosa Arauco y Constitucion, Norbord Inc, RLC Industries Co.
Manufactured Wood Materials Market Size
The manufactured wood materials market size is expected to reach above $443.7 billion by 2022, significantly growing at a steady CAGR during the forecast period. The growth in the manufactured wood materials market is due to rising demand for durable wooden flooring and roofs. Moreover, in the forecast period technological advances such as cross-laminated timber (CLT) and MDF recycling is expected to fuel the demand for manufactured wood.
However, the market for manufactured wood materials is expected to face certain restraints from several factors such as lack of available resources, workforce issues and increasing inventory levels.
Manufactured Wood Materials Market Segmentation
The global manufactured wood materials market is further segmented based on type and geography.
By Type - The manufactured wood materials market is segmented into reconstituted wood, plywood and veneer sheets.
By Geography - The global manufactured wood materials is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America manufactured wood materials market accounts the largest share in the global manufactured wood materials market.
Trends in the Manufactured Wood Materials Market
The engineered wood products segment is gaining popularity and it 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. The engineered wood products include I-beams, laminated veneer lumber products and glulam products.
I-beam product 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, non-residential sectors and new residential roof manufacturers.
Potential Opportunities in the Manufactured Wood Materials Market
With rising demand for durable wooden flooring and roofs. Moreover, in the forecast period technological advances such as cross-laminated timber (CLT) and MDF recycling is expected to fuel the demand for manufactured wood, the scope and potential for the global manufactured wood materials market is expected to significantly rise in the forecast period.