The global engineered wood market was valued at $254.2 billion in 2023, and is projected to reach $427.3 billion by 2033, growing at a CAGR of 5.3% from 2024 to 2033.Engineered wood, also known as composite wood, refers to a broad range of products made by binding wood fibers, particles, veneers, and strands with adhesives to form a robust, man-made composite.
This category of materials includes plywood, laminated veneer lumber (LVL), oriented strand board (OSB), and roof trusses, among others, each offering varying degrees of strength and functionality depending on its specific application. The construction industry heavily relies on these products due to their enhanced durability, uniformity, and resistance to environmental factors such as humidity and temperature fluctuations.
The market for engineered wood has seen significant growth, largely driven by the increased renovation and remodeling of older homes, as well as the continuous rise in new housing projects. These factors contribute to heightened demand, as engineered wood offers a cost-effective, eco-friendly alternative to traditional construction materials like natural wood, cement, and steel. Compared to more emission-intensive materials such as concrete and aluminum, engineered wood has a significantly smaller environmental footprint during production, emitting fewer harmful by-products. This sustainability factor, combined with its relatively lower cost, has led to greater adoption in the construction sector.
In addition to being an environmentally responsible choice, engineered wood also plays a critical role in reducing greenhouse gas emissions. The adhesives and resins used in these products are chemically stable and do not release harmful emissions, further bolstering the material's reputation as a green alternative. Builders and architects increasingly favor engineered wood due to its sustainability benefits and versatility in applications ranging from residential to commercial projects.
However, the market faces competition from cheaper materials like plastic laminates and re-sanded or reused engineered wood products. These alternatives offer lower-cost solutions, which may slow market expansion. Despite this, rapid urbanization in developing regions such as Asia-Pacific and LAMEA is expected to provide lucrative growth opportunities in the coming years. As urban populations rise, the demand for affordable, sustainable building materials will likely drive the growth of engineered wood, cementing its place as a key resource in future construction projects.
The Engineered wood market is segmented on the basis of type, application, and region. Depending on type, the market is segregated into particle board, plywood, medium density fiberboard (MDF), cross laminated timber (CLT), laminated veneer lumber, oriented strand board, and glue laminated timber (glulam). By application, it is categorized into construction, flooring, furniture, transport, packaging, and others. By end user industry, it is bifurcated into residential, and non-residential. By region, it is analyzed across North America, Europe, Asia-Pacific, Latin America and Middle East & Africa.
This category of materials includes plywood, laminated veneer lumber (LVL), oriented strand board (OSB), and roof trusses, among others, each offering varying degrees of strength and functionality depending on its specific application. The construction industry heavily relies on these products due to their enhanced durability, uniformity, and resistance to environmental factors such as humidity and temperature fluctuations.
The market for engineered wood has seen significant growth, largely driven by the increased renovation and remodeling of older homes, as well as the continuous rise in new housing projects. These factors contribute to heightened demand, as engineered wood offers a cost-effective, eco-friendly alternative to traditional construction materials like natural wood, cement, and steel. Compared to more emission-intensive materials such as concrete and aluminum, engineered wood has a significantly smaller environmental footprint during production, emitting fewer harmful by-products. This sustainability factor, combined with its relatively lower cost, has led to greater adoption in the construction sector.
In addition to being an environmentally responsible choice, engineered wood also plays a critical role in reducing greenhouse gas emissions. The adhesives and resins used in these products are chemically stable and do not release harmful emissions, further bolstering the material's reputation as a green alternative. Builders and architects increasingly favor engineered wood due to its sustainability benefits and versatility in applications ranging from residential to commercial projects.
However, the market faces competition from cheaper materials like plastic laminates and re-sanded or reused engineered wood products. These alternatives offer lower-cost solutions, which may slow market expansion. Despite this, rapid urbanization in developing regions such as Asia-Pacific and LAMEA is expected to provide lucrative growth opportunities in the coming years. As urban populations rise, the demand for affordable, sustainable building materials will likely drive the growth of engineered wood, cementing its place as a key resource in future construction projects.
The Engineered wood market is segmented on the basis of type, application, and region. Depending on type, the market is segregated into particle board, plywood, medium density fiberboard (MDF), cross laminated timber (CLT), laminated veneer lumber, oriented strand board, and glue laminated timber (glulam). By application, it is categorized into construction, flooring, furniture, transport, packaging, and others. By end user industry, it is bifurcated into residential, and non-residential. By region, it is analyzed across North America, Europe, Asia-Pacific, Latin America and Middle East & Africa.
Competition Analysis
The key players profiled in the report include Boise Cascade Company, Celulosa Arauco Y Constitucion SA, Huber Engineered Woods LLC, Louisiana-Pacific Corporation (LP), Norbord Inc., Patrick Industries, Inc., Raute Group, Shenzhen Risewell Industry Co., Ltd, Universal Forest Products, Inc., and Weyerhaeuser Company.Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging Engineered wood market trends and dynamics.
- In-depth market analysis is conducted by constructing market estimations for the key market segments between 2023 and 2033.
- Extensive analysis of the Engineered wood market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
- The global Engineered wood market forecast analysis from 2024 to 2033 is included in the report.
- The key market players within Engineered wood market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the Engineered wood industry.
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- Consumer Buying Behavior Analysis
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Key Market Segments
By Application
- Construction
- Floorig
- Furniture
- Packaging
- Transport
- Others
By End User Industry
- Residential
- Non-Residential
By Type
- Plywood
- Medium Density Fiberboard (MDF)
- Cross Laminated Timber (CLT)
- Laminated Veneer Lumber (LVL)
- Oriented Strand Board (OSB)
- Glue Laminated Timber (Glulam)
- Particle Board
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- Latin America
- Brazil
- Argentina
- Colombia
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- Nigeria
- Egypt
- Rest of Middle East And Africa
Key Market Players
- Boise Cascade Company
- Celulosa Arauco Y Constitucion SA
- Huber Engineered Woods LLC
- Lamiwood™ Designer Floor
- Louisiana-Pacific Corporation (LP)
- Norbord Inc.
- PFEIFER GROUP
- Raute Group
- Universal Forest Products, Inc.
- Weyerhaeuser Company
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ENGINEERED WOOD MARKET, BY TYPE
CHAPTER 5: ENGINEERED WOOD MARKET, BY APPLICATION
CHAPTER 6: ENGINEERED WOOD MARKET, BY END USER INDUSTRY
CHAPTER 7: ENGINEERED WOOD MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- Boise Cascade Company
- Celulosa Arauco Y Constitucion SA
- Huber Engineered Woods LLC
- Lamiwood™ Designer Floor
- Louisiana-Pacific Corporation (LP)
- Norbord Inc.
- PFEIFER GROUP
- Raute Group
- Universal Forest Products, Inc.
- Weyerhaeuser Company
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 197 |
| Published | December 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 254.2 billion |
| Forecasted Market Value ( USD | $ 427.3 billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
