Global Engineered Wood Product Market - Future Trends and Opportunities 2019

Engineered wood, also known as man-made or composite wood, refers to wood products made by binding wood strands, particles, fibers, and veneer with adhesives to form composite. Engineered wood products, ranging from roof trusses and plywoods, are gaining increased acclaim and are replacing hardwood across several application areas owing to their high level of sustainability and environment-friendly nature. Capable of being modeled according to client’s specifications and boating excellent strength, flexibility, and cost competitiveness compared to hardwood products, engineered woods are taking the center stage in the furniture industry and several applications in the construction industry.

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Over the course of the report’s forecast period, the global demand for engineered wood is expected to rise at a remarkable pace owing to a substantial rise in application areas across home construction, industrial, and commercial sectors. The vast rise in global demand for engineered wood products in the past few years has compelled many new vendors to venture into the field, significantly increasing the production capacity of the global market. In the next few years, the increased level of competitiveness in the market will lead to significant developments in terms of available product varieties and innovations served by companies wanting to stay ahead of the competition.

Global Engineered Wood Products Market: Scope of the Report

This report on the global engineered wood market presents a complete account of the current state of the market and its segments and several projections regarding the expected course the growth trajectory of the market will take over the period between 2016 and 2024. The study includes detailed analysis of the several factors expected to have a notable influence on the market’s growth prospects, including but not limited to growth drivers, popular trends of past and present times, market restraints, growth opportunities, and competitive landscape. A detailed overview of the regulatory scenario of the global market and key regional markets and its potential impact on a number of business decisions is also included in the report.

It report also presents detailed analysis of some of the notable recent developments in the technology sector, Porter’s five force model analysis of competitive landscape, and business profiles of some of the key vendors in the market. A review of micro- and macro-economic factors essential for growth of existing players and new entrants in the market is also included along with detailed value chain analysis.

Global Engineered Wood Products Market: Drivers and Restraints

The vast global rise in demand for cost-effective and environmentally-sustainable wood products for a variety of building applications such as structure paneling, load bearing, and flooring is considered the primary growth driver of the global engineered wood products market. With a substantial rise in focus on the increased inclusion of green technology and products across the construction sector, the use of engineered wood products has become imperative as a replacement to several conventional environmentally-unsafe composites.

Engineered wood products are also an attractive replacement to natural wood, the high demand for which across the construction sector is a chief cause of deforestation, which itself is a chief cause of global warming and environmental degradation.

Global Engineered Wood Products Market: Geographical and Competitive Dynamics

The report presents a thorough overview of the engineered wood products market across regional markets such as North America, Europe, Asia Pacific, and Middle East and Africa. Of these, developed economies such as the U.S. and many European countries, wherein a significant portion of construction projects is wood framed, are dominant consumers of engineered wood products. Europe is presently the leading contributors of revenue to the global market owing to the presence of a large number of sawmills and the continuously rising volumes of glulam production capacity of countries such as Austria and Germany.

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