Latest News- Engineered Wood Products Market: Structural wood I-beams is expected to lead the Product segment during 2025-2029

The Engineered Wood Products Market is being driven by Increasing residential and commercial construction

The Engineered Wood Products Market is expected to grow at a CAGR of 7.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 7461.9 million. The engineered wood products market is experiencing a significant trend with rising wages in key manufacturing hubs, particularly in China and India. This development weakens the labor cost advantage held by companies in these regions. The primary drivers of this trend include rapid urbanization and industrialization in emerging economies, such as China, India, the Philippines, Vietnam, and Indonesia, as well as the expanding global economy, specifically the growing GDP of countries like China and India. This wage growth may negatively impact global companies with production facilities in these areas. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Structural wood I-beams
  • Glued laminated timber (Glulam)
  • LVL
  • Others
• Application
  • Construction
  • Furniture
  • Others
• End-user
  • Residential
  • Non-residential
• Geography
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing residential and commercial construction
• Demand for environmentally friendly and durable flooring
• Alternative to sawn wood

However, the market also witnesses some limitations, which are as follows:

• High volatility in raw material prices
• Moisture and humidity concerns
• Certifications for forest products

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Market Scope in Engineered Wood Products Market Research Report

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Research Analysis Overview

Engineered wood products, including cross-laminated timber, plywood, laminated veneer lumber, oriented strand boards, and glued laminated timber, are increasingly used in construction and restoration activities across the residential and non-residential sectors. These eco-friendly alternatives offer energy conservation benefits and reduce greenhouse gas emissions compared to traditional building materials like concrete and steel. However, concerns over formaldehyde emissions from adhesives/resins persist. Sustainable practices, such as deforestation mitigation and drone inspections using unmanned aerial vehicles (UAVs or drones), are being adopted to ensure responsible sourcing and production. Builders and architects are turning to engineered wood products for walls, flooring, doors, and furniture, as they offer cost-effectiveness and strength while minimizing deforestation.

Market Research Overview

The Engineered Wood Products Market is a significant segment of the global building products industry, encompassing companies that manufacture building components such as cross-laminated timber, flooring, and insulation materials. According to Technavio's market research, the global building products market is expected to grow due to the expansion of the construction sector in both developed and developing economies. The construction industry's surge is driven by the demand for infrastructure development in response to urbanization and public healthcare needs in emerging markets. Additionally, the increasing focus on sustainable building materials, such as cross-laminated timber, which offers reduced formaldehyde emissions, is expected to further fuel market growth within the non-residential sector.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/