Overview and Scope
Manufactured wood materials refer to a derivative wood product formed by binding or attaching the strands, particles, etc. together with adhesives or other techniques of fixation to create composite materials, also known as composite wood, manufactured board, or composite board.
Sizing and Forecast
The manufactured wood materials market size has grown strongly in recent years. It will grow from $281.94 billion in 2023 to $302.41 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to emerging markets growth, growth in residential construction activity, and low interest rates.
The manufactured wood materials market size is expected to see strong growth in the next few years. It will grow to $393.61 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to growth of e-commerce, increasing demand for wooden furniture, and urbanization. Major trends in the forecast period include offering customized engineered wood products to the construction industry, automation and robotics technologies to enhance production efficiency and reduce costs, implementing tracking and tracing technology to enhance their credibility among stakeholders, and focus on incorporating new and improved techniques in harvesting logs to increase wood volume with less residual damage.
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Segmentation & Regional Insights
The manufactured wood materials market covered in this report is segmented –
1) By Type: Reconstituted Wood, Plywood, Veneer Sheets
2) By Type of Wood Plant: Teak, Oak, Other Types of Wood Plants
3) By Application: Residential, Commercial
Asia-Pacific was the largest region in the manufactured wood materials market in 2023. North America was the second largest region in the manufactured wood materials market. The regions covered in the manufactured wood materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing demand for construction is expected to propel the growth of the manufactured wood materials market going forward. Construction refers to the process of planning, designing, building, and assembling physical structures, facilities, or infrastructure. Manufactured wood materials can have positive economic, environmental, and societal impacts by promoting sustainability, innovation, and efficiency in the construction industry. For instance, in September 2021, according to Oxford Economics, a UK-based economic information services company, the global construction output between 2020 and 2030 is anticipated to increase by 42%, or $4.5 trillion, to reach USD 15.2 trillion. The increasing demand for construction is driving the growth of the manufactured wood materials market
Key Industry Players
Major companies operating in the manufactured wood materials market report are Georgia-Pacific, Weyerhaeuser, Boise Cascade, West Fraser Timber Co Ltd, Universal Forest Products, UPM-Kymmene Corporation, Metsa Group, Potlatch Corporation, Austral Plywoods Pty Ltd, Eksons Corporation Bhd,, Jilin Sen Workers’ Forming Group Co., Ltd., Daya Shengxiang Home Co., Ltd., Xuzhou Mega Industries, Yalong Wood, Century Plyboards India Ltd, Greenply Industries Ltd, HOKUSAN, Caledonian Plywood Company Ltd, Hanson Plywood, Garnica Plywood Samazan, IMCA Panels, Templin OHG, Syktyvkar Plywood Mill LTD, Plyterra Group, Segezha Group, JAF Group, Au-Mex, Hancock Timber Resource Group, RSH Forest Products, Sierra Pacific, Berneck, Araupel, Linea Parana Madeiras Ltda, Imaribo, Middle East Wood, Mazi Orman Urunleri Ltd., Dastas Demircioglu Agac A.S., Daco Parquet Factory AS, Gabon Veneer, Merensky, Miro Forestry and Timber Products, United Forest Products, Afeefa Overseas Sarl Gabon, Okoume Face Veneer
The manufactured wood materials market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
……..
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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