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Global I-Joist Market Share, Current Trends, Opportunities, Growth Size & Forecasts 2023
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IMARC Group’s latest report, entitled “I-Joist Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global I-joist market reached a value of US$ 2.3 Billion in 2017, registering a CAGR of nearly 15% during 2010-2017. I-joist refers to a lightweight and strong I-shaped engineered wood product. It is made up of orientated web strand boards which are placed between the top and bottom laminated wood flanges to give them the distinct ‘I’ shape. These flanges, when united with the web, provide outstanding shear resistance and resist bending. Today, manufacturers prefer using I-joist made up of oriented strand board web material as it is stronger, cheaper and readily available than plywood. Moreover, it has replaced lumber-joists as they are more expensive and lack the adequate load-carrying ability required for longer spans.
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Market Trends:
I-joist can withstand heavy loads and offers improved strength, stiffness, appearance and performance than solid wood along with more consistent sizes. Additionally, I-joist resists shrinking and swelling under ambient conditions more efficiently. Apart from this, it consists of a thin layer of oriented strand board web that is easier to drill for plumbing, HVAC and electrical purposes. I-joist can be easily installed in both the residential and commercial areas, owing to its light weight and dimensional stability. As a result, I-joist is extensively utilized for floor and roof joists, wall studs and roof rafters as it helps in eliminating squeaky or noisy floors. However, the lightweight nature of I-joist makes it less fire-resistant than dimensional lumber which acts as a hindrance to the growth of the global I-joist market. Looking forward, the market is projected to reach a value of nearly US$ 4 Billion by 2023.
Market Summary:
* On the basis of end-use, the report has categorized the I-joist market into residential and commercial; new construction and replacement segments; and floors, roofs and other applications.
* Residential and Commercial: Currently, the residential sector represents the leading end-use segment.
Market Breakup by End Use (New Construction and Replacement)
* New Construction and Replacement: The new construction segment dominates the global I-joist market, holding the largest share.
* Floors, Roofs and Other Applications: Floors are the most popular end-use segment as I-joist is used for room flooring to eliminate the noise produced by conventional wood joist products.
* Region-wise, North America represents the largest market for I-joist, accounting for the majority of the total global share. Some of the other major regions are Europe, Asia-Pacific, Latin America and Middle East and Africa.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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