Engineered Wood Market, By Type (Plywood, Oriented Strand Board (OSB), Glulam, Cross Laminated Timber (CLT), Laminated Veneer Lumber (LVL), Particleboard, Other Types), By Application (Non-residential, Residential), And By Geography (North America, Latin America, Europe, Asia-Pacific, Middle East, Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Engineered wood products are composed of raw wood combined with adhesives and resins. The raw wood can come from trees or from recovered wood chips and sawdust. The resins are typically synthetic. The mixture is then pressed together using heat and pressure. The final product has many of the benefits of solid wood while being more cost-effective. Engineered wood floors are often more durable than solid wood and are better suited for high-moisture environments. As a result, they can be installed on most levels of a home and over existing concrete.
Market Dynamics:
The growth of the engineered wood market is primarily attributed to the fact that new developments are designed to meet green building standards. This helps to reduce the overall project costs. In addition, increasing urbanization increases the need to optimize land use in urban areas. Moreover, increasing investments and funding in the market is again propelling market growth. Furthermore, increasing remodeling of old houses and growing new house construction are further driving growth of the engineered wood market.
On the other hand, strict environmental regulations pertaining to formaldehyde emissions is projected to hamper market growth.
Key features of the study:
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