Latin America Prefab Wood Buildings Market Size (2024 - 2029)

Latin America Prefab Wood Buildings Market Analysis

The Latin America Prefab Wood Buildings Market is expected to grow at a CAGR of more than 4.5% during the forecast period. 

• Contractors and suppliers in South America's construction sector are experiencing extreme uncertainty as a result of the COVID-19 outbreak. Lockdowns and limitations forced some construction businesses to halt their projects.
• Before the industrial revolution, wood was the most important building material. During the last two centuries, however, wood has often been replaced by concrete, bricks, steel, and also plastics. However, these materials have a significant negative impact on the environment. To prevent this, more construction companies are considering using bio-based materials such as wood. Sustainable timber provides a more ecologically acceptable cladding material than manufactured panels, and the variations in hue provided by natural wood can provide a dynamic aesthetic to any green building. Governments are striving to use more bio-based building materials, including wood.
• The market for prefab wooden structures has an opportunity due to recent increases in the cost of traditional construction methods and the growth of green buildings in the region. In the first half of 2022, the costs of the construction industry in Brazil increased by 7.53%. In June 2022, there was an increase of 2.14% in the INCC, which corresponds to the third largest increase for that month in the last 28 years. According to the Mexican Chamber of the Construction Industry (CMIC), the cost of building materials, such as rebar, steel, and cement, increased 15% to 25% from December 2021 to April 2022. In addition to the building materials prices, the labor costs increased by 20% in Mexico.
• In February 2022, the U.S. Green Building Council (USGBC) announced Mexico ranks ninth in the world on its annual list of Top 10 Countries and Regions for LEED in 2021. Brazil is the other Latin American country to make the 2021 list and ranked number seven. Both countries represent the ever-growing international demand for certified LEED green buildings that help reduce environmental impact and support health and well-being.

Latin America Prefab Wood Buildings Industry Segmentation

Prefabricated wood building kits are built from prefabricated parts that are delivered and fitted on-site, making them resemble life-size Legos. Prefabricated panels are most frequently used to manufacture whole parts of a building, including glazing packages, roofing components or structure (ceiling, decking, and beams), and building structure (wall panels, beams, columns, and shear paneling).

A complete assessment of the Latin America Prefab Wood Buildings Market includes an assessment of the economy market overview, market size estimation for key segments, and emerging trends in the market segments in the report. The report sheds a light on the market trends like growth factors, restraints, and opportunities in this sector. The competitive landscape of the Latin America Prefab Wood Buildings Market is depicted through the profiles of active key players. The report also covers the impact of COVID-19 on the market and future projections.

The Latin America Prefab Wood Buildings Market is segmented By Application (Residential, Commercial, Industrial), and by Geography (Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America). For each segment, the market sizing and forecasts have been done on the basis of value (USD billion).