Rise in use of engineered wood over other building materials, surge in focus on affordable homes, and growth in reconstruction, renovation, and remodelling of old buildings fuel the growth of the global engineered wood market. Moreover, the market across Asia-Pacific region has dominated in 2019, and is expected to lead the trail throughout the forecast period.
Portland, OR, Feb. 15, 2021 (GLOBE NEWSWIRE) -- As per the report, the global engineered wood industry was pegged at $284.76 billion in 2019, and is projected to reach $400.45 billion by 2027, growing at a CAGR of 6.2% from 2020 to 2027. The report offers an extensive analysis of changing market trends, key segments, top investment pockets, value chain, competitive landscape, and regional scenario.
Rise in use of engineered wood over other building materials, surge in focus on affordable homes, and growth in reconstruction, renovation, and remodelling of old buildings fuel the growth of the global engineered wood market. On the other hand, threat of substitute material and global trade war restrain the growth of the market. Nevertheless, surge in sales of furniture is expected to usher a plethora of opportunities for the market players in the future.
Download Sample PDF (235 Pages with More Insight): https://www.alliedmarketresearch.com/request-sample/1777
• The industries such as construction, manufacturing, tourism, and hotel were completely closed during the lockdown. Which in turn, decreased the demand for engineered wood.
• Furthermore, with the suspension of the manufacturing and transportation activities, the supply chain of engineered wood experienced a disruption as well.
• On the other hand, the companies are now retrieving back with concern to the unlock phase and progress against the pandemic. This in turn, would aid the industry to recoup soon.
The engineered wood market is segmented into type, application, end user, and region. Based on application, the furniture segment dominated with the largest share in 2019, garnering nearly one-third of the global engineered wood market. On the other hand, the packaging segment is expected to manifest the highest CAGR of 7.1% during the forecast period.
Get detailed COVID-19 impact analysis on the Engineered Wood Market Request Here
Based in industry, the commercial & industrial segment is expected to showcase the highest CAGR of 6.4% during the forecast period. At the same time, the residential segment accounted for the highest market share in 2019, with nearly two-thirds of the global engineered wood market.
Based on region, the market is studied across various regions including Asia-Pacific, Europe, North America, and LMAEA. The Asia-Pacific region has dominated in 2019, with around two-thirds of the market. On the other hand, the global engineered wood market across LAMEA is expected to portray the highest CAGR of 7.1% from 2020 to 2027.
Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/connect-to-analyst/1777
Major market players profiled in the report include Boise Cascade Company, Huber Engineered Woods LLC, Celulosa Arauco Y Constitucion SA, Norbord Inc., Louisiana-Pacific Corporation (LP), Raute Group, Patrick Industries, Inc., Universal Forest Products, Inc., Shenzhen Risewell Industry Co., Ltd, and Weyerhaeuser Company
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060