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Global Engineered Wood Market Share, Size, Analysis, Report, Growth, Forecast: By Type: I-Beams, Plywood, Laminated Veneer Lumber (LVL), Glulam (Glued Laminated Timber), Oriented Strand Boards (OSB), Cross Laminated Timber (CLT), Others; By End-Use: Residential, Others; By Application; Regional Analysis; Competitive Landscape; 2024-2032
Global Engineered Wood Market Outlook
The global engineered wood market size reached a value of approximately USD 331.24 billion in 2023. The market is further expected to grow at a CAGR of 6.1% between 2024 and 2032, reaching a value of USD 564.43 billion by 2032.
Key Trends in the Market
Engineered wood, also termed as man-made wood, is a type of wood that is made by binding pieces of scrap wood, sawdust, real wood, or shredded wood fibres using adhesives. It is called engineered wood because it is bonded together to form a stronger and stiffer end product.
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- The demand for engineered wood is rising from the construction industry due to its sustainability and as it offers similar strength and density as an old growth timber.
- Growing utilisation of engineered wood instead of greenhouse gas emission intensive materials such as steel, aluminium, and concrete is reducing the emission of greenhouse gases, and aiding the growth of the engineered wood market.
- The rising trend of remodelling and renovating older homes and growing demand for wooden floorings are major factors increasing the utilisation of engineered woods in various countries across the globe.
Market Analysis
Based on type, the market is segmented into I-beams, plywood, laminated veneer lumber (LVL), glulam (glued laminated timber), oriented strand boards (OSB), and cross laminated timber (CLT), among others. On the basis of end-use, the market is divided into residential, and commercial and industrial. By application, the market is categorised into construction, furniture, flooring, and packaging, among others. On the basis of region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global engineered wood market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Boise Cascade Company
- Arauco Wood Products, Inc.
- Huber Engineered Woods LLC
- Louisiana-Pacific Corporation
- West Fraser Timber Co. Ltd.
- Raute Corporation
- UFP Industries, Inc.
- Weyerhaeuser Company
- Stora Enso Oyj
- Resolute Forest Products
- Century Plyboards (India) Ltd
- Others
Market Share by End-Use
Residential sector is expected to account for a significant share in the engineered wood market. This is due to the rising utilisation of engineered wood in the construction of various products essential for a home such as flooring, doors, cabinets, staircases, and roofs, among others. However, commercial and industrial end-uses of engineered wood are also expected to rise, supported by the increasing demand for cross laminated timber for the growing construction of skyscrapers and offices.
Market Share by Region
The Asia Pacific accounts for a large share of the market for engineered wood owing to the rising construction activities in countries such as India and China. Moreover, the growing concerns towards environment among individuals is fuelling the demand for eco-friendly products such as the engineered wood in the region. They require less tree per plank in comparison to solid hardwoods which making them more environmentally sustainable.
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Competitive Landscape
Boise Cascade Company was founded in 1957 and is headquartered in Idaho in the United States. The company manufactures and distributes wood products and building materials to commercial and residential industries globally.
Arauco Wood Products, Inc. is a wood manufacturing company that was established in 1995 and is headquartered in Georgia in the United States. They specialise in thermally fused laminate panels, high density fibreboard composite panels, and decorative laminates, among others.
Huber Engineered Woods LLC was founded in 2003 and has its headquarters located in North Carolina, United States. This wood company is known globally for creating specialty products such as ZIP system walls and roof sheathing, among other products.
Other market players include Louisiana-Pacific Corporation, West Fraser Timber Co. Ltd., Raute Corporation, UFP Industries, Inc., Weyerhaeuser Company, Stora Enso Oyj, Resolute Forest Products, and Century Plyboards (India) Ltd, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by End-Use |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Engineered Wood Market Analysis
8.1 Key Industry Highlights
8.2 Global Engineered Wood Historical Market (2018-2023)
8.3 Global Engineered Wood Market Forecast (2024-2032)
8.4 Global Engineered Wood Market by Type
8.4.1 I-Beams
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Plywood
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Laminated Veneer Lumber (LVL)
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Glulam (Glued Laminated Timber)
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Oriented Strand Boards (OSB)
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Cross Laminated Timber (CLT)
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.4.7 Others
8.5 Global Engineered Wood Market by End-Use
8.5.1 Residential
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Commercial and Industrial
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Engineered Wood Market by Application
8.6.1 Construction
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Furniture
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Flooring
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Packaging
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Others
8.7 Global Engineered Wood Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Engineered Wood Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Engineered Wood Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Engineered Wood Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Engineered Wood Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Engineered Wood Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Boise Cascade Company
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Arauco Wood Products, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Huber Engineered Woods LLC
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Louisiana-Pacific Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 West Fraser Timber Co. Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Raute Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 UFP Industries, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Weyerhaeuser Company
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Stora Enso Oyj
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Resolute Forest Products
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Century Plyboards (India) Ltd
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Others
16 Trade Data Analysis
16.1 Major Exporting Countries (HS Code – 4410 and 4412)
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries (HS Code – 4410 and 4412)
16.2.1 By Value
16.2.2 By Volume
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Engineered Wood Market: Key Industry Highlights, 2018 and 2032
2. Global Engineered Wood Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Engineered Wood Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Engineered Wood Historical Market: Breakup by End-Use (USD Million), 2018-2023
5. Global Engineered Wood Market Forecast: Breakup by End-Use (USD Million), 2024-2032
6. Global Engineered Wood Historical Market: Breakup by Application (USD Million), 2018-2023
7. Global Engineered Wood Market Forecast: Breakup by Application (USD Million), 2024-2032
8. Global Engineered Wood Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Engineered Wood Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Engineered Wood Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Engineered Wood Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Engineered Wood Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Engineered Wood Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Engineered Wood Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Engineered Wood Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Engineered Wood Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Engineered Wood Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Engineered Wood Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Engineered Wood Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Major Exporting Countries by Value
21. Major Importing Countries by Value
22. Major Exporting Countries by Volume
23. Major Importing Countries by Volume
24. Global Engineered Wood Market Structure
Key Questions Answered in the Report
The global market reached a value of approximately USD 331.24 billion in 2023.
The market is expected to grow at a CAGR of 6.10% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 564.43 billion by 2032.
The key drivers of the market are rising demand for engineered wood by the construction industries, rising disposable income, and growing urbanisation.
The key trends of the market include improving standards of living, sustainability of engineered wood production, and increasing home remodelling projects.
The various types of engineered wood include I-beams, plywood, laminated veneer lumber (LVL), glulam (glued laminated timber), oriented strand boards (OSB), and cross laminated timber (CLT), among others.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key players in the engineered wood market are Boise Cascade Company, Arauco Wood Products, Inc., Huber Engineered Woods LLC, Louisiana-Pacific Corporation, West Fraser Timber Co. Ltd., Raute Corporation, UFP Industries, Inc., Weyerhaeuser Company, Stora Enso Oyj, Resolute Forest Products, and Century Plyboards (India) Ltd, among others.
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