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Reclaimed Lumber Global Market Predicted to Augment and Reach over $69.9 Billion at a CAGR of 5.9% By 2028 | AltruWood Inc., Imondi Flooring, TerraMai Inc., Olde Wood Ltd., Trestlewood Inc.
Reclaimed Lumber Global Market
The reclaimed lumber market size is expected to see strong growth in the next few years. It will grow to $69.9 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to circular economy emphasis, architectural and design trends, innovative manufacturing techniques, commercial and residential demand, regulatory support and policies. Major trends in the forecast period include sustainability emphasis, heritage and storytelling, regulatory support, consumer preference for sustainability, technology integration.
Market Overview -
Reclaimed lumber refers to the processed wood that is sourced from old homes and buildings and is strong, stable, and durable. This wood is recyclable and environmentally friendly, and it is used in a variety of industries, mostly for the manufacture of wooden items.
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Expanding Construction Sector Fuels Reclaimed Lumber Market Surge
The expanding construction sector is expected to propel the growth of the reclaimed lumber market going forward. Construction activities have been on the rise due to rapid industrialization and urbanization. These construction activities are creating a massive demand for reclaimed lumber for the construction of residential and commercial buildings. Reclaimed lumber is strong, stable, and durable and is used for various construction projects. For instance, in September 2023, according to a report issued by the Census Bureau, a US-based agency responsible for collecting and producing various demographic, economic, and social data about the United States and its population, total construction spending during September 2023 was estimated at a seasonally adjusted annual rate of $1,996.5 billion, which is above the revised August estimate of $1,988.3 billion. . Therefore, the expanding construction sector is driving the growth of the reclaimed lumber market.
Competitive Landscape -
Major companies operating in the reclaimed lumber market report are Montana Reclaimed Lumber Co., AltruWood Inc., Vintage Timberworks Inc., Recycling The Past LLC, Beam and Board LLC, Longleaf Lumber Inc., Sustainable Lumber Company, Imondi Flooring, TerraMai Inc., Elemental Republic SDN BHD, Olde Wood Ltd., Trestlewood Inc., True American Grain Reclaimed Wood, Altholz - Baumgartner & Co. GmbH, Viridian Reclaimed Wood LLC, Moore Manufacturing Inc., Resawn Timber Co., Atlantic Reclaimed Lumber LLC, Carpentier Hardwood Solutions NV, Elmwood Reclaimed Timber Inc., Jarmak Corporation, GR Plume Company Inc., Eagle Reclaimed Lumber, Appalachian Woods LLC, Pioneer Millworks LLC, The Hudson Company, The Woodshop of Texas, The Barnwood Farm Ltd., The Old Wood Co., The Woods Company, The Reclaimed Wood Shop, The Lumber Baron Inc., The Reclaimed Barnwood Company, The Old Texas Wood Company, The Wood Cycle of Wisconsin
Reclaimed Lumber Market Surges With Product Evolution
Product innovations are a key trend gaining popularity in the reclaimed lumber market. Major market players are developing innovative products to sustain their position in the reclaimed lumber market. For instance, in July 2022, Studio HENK, a Netherland-based furniture company that partnered with Renewi, a UK-based waste management company operating in reclaimed lumber products, designed a unique, limited-edition dining table out of waste wood. This dining table is made of 100% recycled coniferous wood and was created using reclaimed wood from old Amsterdam canal houses that were found on the street.
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Key Segments -
The reclaimed lumber market covered in this report is segmented -
1) By Source: Post-industrial Reclaimed, Post-Consumer Reclaimed, Water Reclaimed, Orchard Salvage Reclaimed, Forest Floor Salvage Reclaimed
2) By Application: Flooring, Paneling and Siding, Beams, Furniture, Other Applications
3) By End-Use: Commercial Construction, Residential Construction, Industrial
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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