Engineered Wood Market Size
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 285.85 Million cubic meters |
| Market Volume (2029) | 367.16 Million cubic meters |
| CAGR (2024 - 2029) | > 5.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Engineered Wood Market Analysis
The Engineered Wood Market size is estimated at 285.85 Million cubic meters in 2024, and is expected to reach 367.16 Million cubic meters by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).
The COVID-19 pandemic had a negative impact on the market. However, the market for engineered wood has now been close to reaching pre-pandemic levels because of increasing construction and restoration activities in the post-pandemic period.
- Over the medium term, growing demand from the non-residential sector and increasing use of cross-laminated timber (CLT) as a construction material are likely to drive the market during the forecast period.
- On the flip side, stringent environmental concerns related to formaldehyde emissions are likely to hinder market growth.
- The growing residential construction in India and China is expected to act as an opportunity in the forecast period.
- Asia-Pacific is likely to dominate the global market, while North America is expected to witness the fastest consumption of engineered wood during the forecast period.
Engineered Wood Market Trends
The Residential Segment to Dominate the Market
- Engineered wood is used for a wide range of applications, including furniture, walls, flooring, doors, roofs, cabinets, columns, beams, and staircases.
- The application of cross-laminated wood has been increasing rapidly. For low-rise construction, the increased loadbearing capacity of CLT wall panels adds further benefits over conventional stud-framed walls.
- Cross-laminated timber is now an established system in the mid-rise residential sector in Europe and North America. In addition, there are increasing examples of cross-laminated timber being used to construct skyscrapers for buildings over 150 meters tall.
- The growing application of OSB in various residential applications, such as walls, flooring, and roofs, is estimated to drive the market.
- All types of engineered woods are significantly used in various applications in the residential sector. With 73% of its population living in urban areas, Europe is expected to be over 80% urban by 2050.
- European furniture companies are very successful and innovative. The German, Italian, and Nordic furniture companies act as benchmarks in the field of high-class design.
- According to the data released by the United States Census Bureau, the total annual value of private construction in the country increased by 4.7% in 2023 compared to the previous year.
- The total value of construction in 2023 was USD 1,978.7 billion, which was 7% above the total value of construction in 2022.
- In December 2023, a total of USD 2,096 billion was spent compared to USD 1,840.9 billion in 2022, registering a 13.9% rise in construction spending.
- Thus, based on the aforementioned aspects, the residential segment is expected to drive the market during the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific has several major countries, such as China, India, ASEAN, and Japan.
- China has been majorly driven by ample developments in the residential and commercial construction sectors and is supported by a growing economy. In China, the housing authorities of Hong Kong launched several measures to push start the construction of low-cost housing. The officials aim to provide 301,000 public housing units by 2030.
- China is also likely to witness the construction of 7,000 more shopping centers, which are estimated to start functioning by 2025.
- In India, the availability of affordable housing is expected to rise by around 70% by 2024. By 2025, India's construction industry is expected to reach USD 1.4 trillion, as per Invest India.
- Also, by 2030, more than 30% of the population is expected to live in urban India, creating a demand for 25 million additional mid-end and affordable units, thus bolstering the demand for engineered wood products during the forecast period.
- In Asia-Pacific, Japan and China have a considerable share of the OSB market. Norbond has been marketing its OSB panels in Japan for over 20 years, and it has established a track record of high performance in a variety of end-user construction.
- Hence, Asia-Pacific is expected to dominate the global market.
Engineered Wood Industry Overview
The engineered wood market is partially consolidated, with most players accounting for a marginal market share. Major companies in the market (in no particular order) include Weyerhaeuser Company, Boise Cascade, Georgia-Pacific, Roseburg Forest Products, and Louisiana-Pacific Corporation.
Engineered Wood Market Leaders
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Weyerhaeuser Company
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Boise Cascade
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Georgia-Pacific
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Louisiana-Pacific Corporation
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Roseburg Forest Products
*Disclaimer: Major Players sorted in no particular order
Engineered Wood Market News
- December 2022: Boise Cascade expanded distribution centers in two new markets by acquiring 45 acres in Walterboro, SC, and purchasing a 34-acre land parcel in Hondo, Texas.
- October 2022: Boise Cascade announced the expansion of its distribution center through the acquisition of 4.67 acres of land adjacent to its Albuquerque, New Mexico branch.
Engineered Wood Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand from the Non-residential Sector
4.1.2 Increasing Use of Cross-laminated Timber (CLT) as Construction Materials
4.1.3 Other Opportunities
4.2 Restraints
4.2.1 Stringent Environmental Concerns Related to Formaldehyde Emissions
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter Five Forces
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
5.1 Type
5.1.1 Plywood
5.1.2 Oriented Strand Board (OSB)
5.1.3 Glulam
5.1.4 Cross-laminated Timber (CLT)
5.1.5 Laminated Veneer Lumber (LVL)
5.1.6 Particleboard
5.1.7 Other Types (Fiber Board, Parallel Strand, Others)
5.2 Application
5.2.1 Non-residential
5.2.2 Residential
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Malaysia
5.3.1.6 Thailand
5.3.1.7 Indonesia
5.3.1.8 Vietnam
5.3.1.9 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 France
5.3.3.4 Italy
5.3.3.5 Spain
5.3.3.6 Turkey
5.3.3.7 Russia
5.3.3.8 NORDIC Countries
5.3.3.9 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Colombia
5.3.4.4 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 Nigeria
5.3.5.3 Qatar
5.3.5.4 Egypt
5.3.5.5 United Arab Emirates
5.3.5.6 South Africa
5.3.5.7 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Binderholz GmbH
6.4.2 Boise Cascade
6.4.3 Georgia-Pacific (Georgia-Pacific Wood Products LLC)
6.4.4 HASSLACHER Holding GmbH
6.4.5 Havwoods India Pvt. Ltd
6.4.6 Huber Engineered Woods LLC
6.4.7 KLH Massivholz Wiesenau GmbH
6.4.8 Kronoplus Limited
6.4.9 Louisiana-Pacific Corporation
6.4.10 Mayr-Melnhof Holz Holding AG
6.4.11 Nordic Structures
6.4.12 Pacific Woodtech Corporation
6.4.13 Resolute Forest Products
6.4.14 Roseburg
6.4.15 Stora Enso
6.4.16 West Fraser
6.4.17 Weyerhaeuser Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Residential Construction in India and China
7.2 Other Opportunities
Engineered Wood Industry Segmentation
Engineered wood is a man-made wood product manufactured by binding strands, fibers, and wood chips with adhesives to make composite wood structures.
The engineered wood market is segmented based on type, application, and geography. By type, the market is segmented into plywood, oriented strand board (OSB), glulam, cross-laminated timber (CLT), laminated veneer lumber (LVL), particleboard, and other types (fiberboard, parallel strand, others). By application, the market is segmented into non-residential and residential. The report also covers the market sizes and forecasts for the engineered wood market in 27 countries across major regions. For each segment, the market sizes and forecasts are provided based on volume (thousand cubic meters).
| Type | |
| Plywood | |
| Oriented Strand Board (OSB) | |
| Glulam | |
| Cross-laminated Timber (CLT) | |
| Laminated Veneer Lumber (LVL) | |
| Particleboard | |
| Other Types (Fiber Board, Parallel Strand, Others) |
| Application | |
| Non-residential | |
| Residential |
| Geography | |||||||||||
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Engineered Wood Market Research FAQs
How big is the Engineered Wood Market?
The Engineered Wood Market size is expected to reach 285.85 million cubic meters in 2024 and grow at a CAGR of greater than 5% to reach 367.16 million cubic meters by 2029.
What is the current Engineered Wood Market size?
In 2024, the Engineered Wood Market size is expected to reach 285.85 million cubic meters.
Who are the key players in Engineered Wood Market?
Weyerhaeuser Company, Boise Cascade, Georgia-Pacific, Louisiana-Pacific Corporation and Roseburg Forest Products are the major companies operating in the Engineered Wood Market.
Which is the fastest growing region in Engineered Wood Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Engineered Wood Market?
In 2024, the Asia-Pacific accounts for the largest market share in Engineered Wood Market.
What years does this Engineered Wood Market cover, and what was the market size in 2023?
In 2023, the Engineered Wood Market size was estimated at 271.56 million cubic meters. The report covers the Engineered Wood Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Engineered Wood Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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