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Manufactured Wood Materials Market: Robust Growth, Prominent Drivers, and Key Trends
Manufactured Wood Materials Market Share
Projected Market Size and Trends of Global Manufactured Wood Materials Market
The global market for manufactured wood materials has witnessed a notable growth rate and is poised to expand from $306.04 billion in 2024 to $329.7 billion in 2025, with a robust CAGR of 7.7%, largely due to the growth in emerging markets, the rise of residential construction activity, and prevailing low interest rates. Furthermore, the market is expected to reach $428.69 billion in 2029, growing at a CAGR of 6.8%, propelled by the growth of e-commerce, increasing demand for wooden furniture, and urbanization.
Key Drivers of the Manufactured Wood Materials Market
The increasing demand for construction is a primary growth driver for the manufactured wood materials market. The process of planning, designing, constructing, and assembling physical structures, facilities, or infrastructure, known as construction, immensely boosts the demand for manufactured wood materials. The application of these materials leads to positive economic, environmental, and societal impacts by promoting sustainability, innovation, and efficiency in the construction industry. In June 2024, total construction spending in the U.S. reached $1.98 trillion, reflecting a 7.4% increase from the previous year, thereby driving the growth in the manufactured wood materials market.
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Major players propelling Manufactured Wood Materials Market Growth
Key players in the manufactured wood materials market include:
• 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
Prominent Trends in the Manufactured Wood Materials Market
Key trends in the forecast period include:
• Offering customized engineered wood products to the construction industry
• Implementation of automation and robotics technologies
• Tracking and tracing technology
• Incorporating new and improved harvesting techniques to increase wood volume with less residual damage
Different Segments of the Global Manufactured Wood Materials Market
The manufactured wood materials market is segmented by:
1) Type: Reconstituted Wood, Plywood, Veneer Sheets
2) Type of Wood Plant: Teak, Oak, Other Types of Wood Plants
3) Application: Residential, Commercial
Which Region Dominates the Manufactured Wood Materials Market?
In 2024, Asia-Pacific was the largest region in the manufactured wood materials market, followed by North America. The regions mentioned in this market report comprise Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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The Manufactured Wood Materials Market Global Market Report Covers:
- Market Size Analysis: Analyze the Manufactured Wood Materials Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Manufactured Wood Materials Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Manufactured Wood Materials Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Manufactured Wood Materials Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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