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Engineered Wood Products Market 2021-2025: Scope
The report also covers the following areas:
Engineered Wood Products Market 2021-2025: Market Dynamics
Major Driver:
- The key factors driving growth in the engineered wood products market are the increasing residential and commercial construction.
- Developed economies, such as the US, are planning to invest billions in infrastructural development. The rising focus on infrastructural and real estate development, as well as the construction of new residences and offices, is expected to increase the sales of new wood products and furnishings
- .In addition to new construction, the rising demand for wood products is also complemented by the increase in the number of renovation and modification projects across key countries such as the US, China, and India. The rise in the number of multinational and global companies, as well as technology and business parks due to favorable trade relations between countries and government policies such as FDI relaxation, is estimated to increase the demand for office and commercial wood products during the forecast period.
Major Challenges:
- The high volatility in raw material prices will be a major challenge for the engineered wood products market during the forecast period.
- The cost of wood has increased considerably in recent times. In addition, the prices of raw materials such as chipboard, timber, foam, polish chemical materials, color paints, and hardware used in making furniture have increased. In the past, the profit margins of furniture manufacturers were negatively affected because of the decrease in the gap between production cost increment and vendors' ability to increase the prices of their products in the market.
- The price of average-quality furniture has registered an increase of 25%-30% due to the high cost of wood and its shortage. This, in turn, is hindering market growth due to the low purchase rate as a result of the high cost of wood. All these factors are collectively having a negative impact on the profitability of the engineered wood product market, thus reducing the growth.
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Engineered Wood Products Market 2021-2025: Segmentation Assessment
- Type
- Structural Wood I-beams
- Glued Laminated Timber
- LVL
- Others
- Geography
- Europe
- North America
- APAC
- MEA
- South America
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Engineered Wood Products Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist engineered wood products market growth during the next five years
- Estimation of the engineered wood products market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the engineered wood products market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of engineered wood products market vendors
Related Reports:
Engineered Wood Products Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6% |
Market growth 2021-2025 |
6985.34 million cubic feet |
Market structure |
Fragmented |
YoY growth (%) |
3.47 |
Performing market contribution |
Europe at 31% |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Boise Cascade Co., Celulosa Arauco y Constitucion SA, J M Huber Corp., Louisiana-Pacific Corp., Lowes Companies Inc., Patrick Industries Inc., Raute Corp., Roseburg Forest Products Co., West Fraser Timber Co. Ltd., and Weyerhaeuser Co. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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