ENGINEERED WOOD MARKET ANALYSIS

Volatility in raw material prices has acted as a major restraining factor for the growth of the engineered wood market. Engineered wood products are primarily manufactured using raw materials like wood, binders, and resins. However, prices of these key raw materials fluctuate significantly due to various global and local factors affecting their supply and demand dynamics.

Market Opportunities: Product innovation

Product innovation could be a major opportunity for growth in the engineered wood market. Engineered wood products like plywood, oriented strand board, and glue laminated timbers have increasingly become substitutes for solid wood over the past few decades. These composite wood products are highly customizable and offer performance and consistency benefits over traditional wood. As builders and architects seek out more sustainable and environment-friendly building materials, engineered wood provides a renewable and recycled wood alternative. With advancements in wood science and adhesive technologies, product developers can continue enhancing the structural integrity, durability and design possibilities of engineered wood.