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 anticipated growth in the forecast period can be attributed to the expansion of e-commerce, an increasing demand for wooden furniture, and the ongoing process of urbanization. Key trends expected in this period include the provision of customized engineered wood products to the construction industry, the adoption of automation and robotics technologies to enhance production efficiency and reduce costs, the implementation of tracking and tracing technology to enhance credibility among stakeholders, and a focus on incorporating new and improved techniques in harvesting logs to increase wood volume with less residual damage.
The growth of the manufactured wood materials market is anticipated to be propelled by the increasing demand for construction. Construction involves the intricate processes of planning, designing, building, and assembling physical structures, facilities, or infrastructure. Manufactured wood materials play a crucial role in fostering sustainability, innovation, and efficiency in the construction industry, thereby yielding positive economic, environmental, and societal impacts. For example, Oxford Economics, a UK-based economic information services company, predicts a 42% increase, equivalent to $4.5 trillion, in global construction output between 2020 and 2030, reaching USD 15.2 trillion. The rising demand for construction acts as a driving force for the growth of the manufactured wood materials market.
The surge in demand for online shopping is expected to contribute to the growth of the manufactured wood materials market. Manufacturers now have the opportunity to expand their product reach on a global scale, attracting a broader customer base. This shift is particularly evident in countries such as India, where e-commerce platforms have significantly boosted the sales of wood manufacturers by providing greater exposure to producers who were previously confined to specific geographic regions.
Manufactured wood material companies are increasingly incorporating automation and robotics into their operations to boost productivity and reduce costs. Robotics are deployed in areas where working conditions for human labor may be unsafe, and automation is implemented to complement human labor, enhancing operational efficiency. According to a survey conducted by the Manufacturers Alliance and the MN Precision Manufacturing Association, 38% of respondents were already utilizing automation or robotics, and 32% were in the process of implementing these technologies. Key players offering automation equipment include Timber Automation and CG Power and Industrial Solutions.
Leading companies in the manufactured wood materials market are concentrating on innovative products, such as ready-to-use plywood and board techply, to provide reliable services to their customers. Ready-to-use plywood and board are engineered wood products designed for convenience and ease of use in various construction and woodworking applications. These pre-finished products eliminate the need for additional surface finishing before installation. For instance, in June 2023, Duroply Industries Limited, an India-based company specializing in manufacturing plywood and related wood-based products, introduced India’s first ready-to-use plywood and board, known as techply. Techply is a versatile solution suitable for various applications, featuring a veneer-such as finish for direct usage in furniture construction. Constructed from European beech hardwood with smooth ornamental surfaces, Techply exhibits enhanced strength and solidity compared to conventional plywood due to its excellent mechanical characteristics.
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.
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.
The countries covered in the manufactured wood materials market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa. The market for manufactured wood materials consists of sales of laminated veneer lumber, Glulam, Oriented Strand Boards, pinewood, and spruce wood. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The main types of manufactured wood materials include reconstituted wood, plywood, and veneer sheets. Reconstituted wood is produced by rotary sawing wood sheets, gluing them together, and treating them to resemble various other woods. Reconstituted wood is used in the manufacturing of wall coverings, workstations, cabinetry, parquet flooring, and bookcases. Different types of wood plants, such as teak, oak, and others, are utilized for residential and commercial applications in the production of manufactured wood materials.
The manufactured wood materials market research report is one of a series of new reports that provides manufactured wood materials market statistics, including manufactured wood materials industry global market size, regional shares, competitors with a manufactured wood materials market share, detailed manufactured wood materials market segments, market trends and opportunities, and any further data you may need to thrive in the manufactured wood materials industry. This manufactured wood materials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Table of Contents
Executive Summary
Manufactured Wood Materials Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on manufactured wood materials market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Where is the largest and fastest growing market for manufactured wood materials? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered: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
Key Companies Mentioned: Georgia-Pacific; Weyerhaeuser; Boise Cascade; West Fraser Timber Co Ltd; Universal Forest Products
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- 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.
Methodology
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