Engineered Wood Market, By Type (Plywood, Oriented Strand Board (OSB), Glulam, Cross Laminated Timber (CLT), Laminated Veneer Lumber (LVL), and Other Types), By Application (Non-residential and Residential), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Jul 2024

Code : CMI5319

Pages :163

Formats :

Excel and PDF

Industry : Advanced Materials

Market Concentration and Competitive Landscape

Engineered Wood Market Concentration By Players

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Diminishing forest resources

Another key driver contributing to the rising demand of engineered wood is the diminishing natural forest resources and the need for sustainable utilization of wood resources. Over the past few decades, there has been growing concerns regarding deforestation and its impact on the environment. Extraction of wood from natural forests is witnessed to decline sharply due to shrinking forest areas and implementation of stricter wood procurement policies to promote afforestation. However, the requirement of wood as a construction material continues to increase. Engineered wood products help overcome this challenge of limited natural wood resources as they utilize wood residues and by-products which would otherwise be wasted. Using wood residues efficiently through manufacturing processes of engineered wood extends the life span of forest resources.

The engineered wood market provides an avenue to make the optimal use of small-diameter trees, wood wastes, and other wood by-products. It helps avoid further depletion of natural forests for construction needs.

Key Players Insights