Global Engineered Wood Market: Overview
The engineered wood market is witnessing great advancements due to the advancement in the science of wood-composite composite technology.
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Industry players are focusing on improving the profile of engineered wood and making it at least as good as solid natural wood, if not better. The compelling propositions on which commercial players in the engineered wood market pin their hopes are their lower cost and quality. Applications have therefore been on a rapid expansion path, particularly for flooring and home furnishings. Advancements in the building and construction industry have boosted the demand for new building materials, especially for residential applications.
The ease of care and maintenance of engineered woods makes them lucrative for making kitchen cabinets, for example. Advances in engineering methods for hardwood expand the options for end users in terms of surface finish, durability and style ranges. Ease of installation is a key aspect that enhances their use in a variety of furnishings.
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The market for engineered wood is relatively new and there are relatively few product lines with the desired mechanical and chemical properties. However, in recent years, advancements in biofiber composite technologies have expanded the type of biofiber raw materials used to manufacture engineered wood with attractive properties.
The search for new engineered biocomposites opens new doors to promising revenue streams for market players. A key part of these activities is advancing the troika of performance, durability and lifespan. Many new trends are shaping the contours of the engineered wood market. Oil-based preservative systems have gained momentum among manufacturers due to their environmental friendliness. The constant focus on improving performance expands the market potential of engineered wood.
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Engineered wood market: green option for building and construction applications
Engineered wood is a composite wood made by bonding various components such as strands, fibers and particles together with suitable adhesives. It can replace hardwood and concrete in building and construction applications.
Engineered wood is increasingly being used in place of steel beams in various construction projects. The primary end users of engineered wood are property developers, architects and designers.
Engineered wood can be made using waste products such as sawmill waste, rice straw, sugarcane bagasse, wheat straw, and other wood waste. It is an eco-friendly option for building and construction applications because it is made from recycled wood. The use of engineered wood in construction applications leads to a reduction in waste formation. This reduces the disposal cost.
Engineered wood can be designed as per end users’ request and custom specifications. In addition, it has greater resistance to temperature variations and humidity.
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Rise in demand for sustainable building products
The increase in the number of environmental regulations regarding carbon dioxide emissions is fueling the demand for engineered wood. In developed regions such as North America and Europe, emissions from buildings and their share of total emissions have increased steadily over the past few years. Several manufacturers have started to develop sustainable products with high energy efficiency thanks to the implementation of environmental regulations in the building and construction sector in North America and Europe.
Rising number of research and technology development programs related to sustainable building and construction, especially in developed countries, is expected to propel the consumption of engineered wood during the forecast period.
The European Union’s Energy Performance of Buildings Directive obliges member states to draw up plans for low or zero carbon buildings. In the UK, under the Energy Performance of Buildings Regulations 2008, all new buildings must have an Energy Performance Certificate or Display Energy Certificate.
The demand for sustainable construction products has also increased in developing countries. UN Environment works with Asia-Pacific countries to pursue sustainable growth that catalyzes the efficient use of the region’s natural assets, reduces environmental degradation and delivers social and economic benefits to people in the region. .
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Furniture apps to provide money-making opportunities
The demand for engineered wood in furniture applications has increased. This is expected to provide lucrative opportunities for the market over the forecast period. Engineered wood (such as plywood and fiberboard) is used in furniture applications.
Engineered wood is used in furniture applications because it can provide high consistency and uniform strength. In addition, the furniture becomes highly resistant to warping, cracking and splitting. Thus, high performance standards make engineered wood a superior option for most furniture and cabinetry applications.
The demand for superior visual style and appeal in furniture has increased among consumers. This is expected to provide growth opportunities for the global engineered wood market. Engineered wood is used to create elegant curves, arches, embossments and trim. This is also considered a key factor in driving the engineered wood market.
Performance Issues Associated with Moisture and Humidity Measurement to Hinder the Market
Performance issues associated with moisture and humidity measurement of engineered wood are believed to hinder the market. Health complications occurring after the installation of engineered wood, due to unwanted moisture and relative humidity, is one of the most common performance issues.
nce issues of engineered wood.
Engineered wood has less ability to withstand extreme temperature and pressure conditions. This is also one of the factors restraining the global engineered wood market.
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North America will hold a major share of the global engineered wood market
In terms of region, the global engineered wood market can be divided into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
North America is estimated to account for a major share of the global engineered wood market in the near future owing to the increase in environmental concerns such as pollution in the region. The wood industry in Canada is an important contributor to the engineered wood market in North America.
Building and building regulations in the United States and Canada encourage the use of sustainable building components
Key players in the engineered wood market
The global engineered wood market is moderately concentrated with major manufacturers accounting for a large share. Prominent players operating in the global engineered wood market are looking to enter into partnerships for the development of engineered wood applications.
Major players operating in the engineered wood market include:
ALAMCO Wood Products, LLC
Nordic Homeworx LLC
Huber LLC Engineered Wood
DR Johnson Wood Innovations
Eagle Plywood Specialties
FraserWood Industries Ltd.
Georgia-Pacific Wood Products LLC
Hardel Mutual Plywood Corporation
Natron Wood Products
Pacific Woodtech Corporation
Healthy Wood Products, Inc.
Scotch Plywood Company, Inc.
Patrick Industries, Inc.
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