growing emphasis on eco-friendly construction materials is driving the I-Joist Market
Technavio analyzes that the I-Joist Market is expected to grow at a CAGR of 6.4% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1273.7 million.There are various factors that contribute to the growth of the market. The I-Joist market is experiencing significant growth due in part to the increasing focus on eco-friendly construction materials. Builders and architects are increasingly turning to I-Joists as a sustainable alternative to traditional lumber. These engineered wood products offer numerous benefits, including improved strength, consistency, and reduced waste. Moreover, I-Joists are manufactured using a precise process that minimizes the amount of raw materials used, making them a more sustainable choice for construction projects. As the demand for eco-friendly building solutions continues to rise, the I-Joist market is poised for continued expansion.
In the realm of urban development, the construction sector is increasingly turning to engineered building materials, such as wood based I-joists, to expedite multistory building projects. These innovative structural products, characterized by their I-shaped design consisting of two flanges made from lumber or engineered wood, like laminated veneer lumber, connected by a web of structural panels bonded with adhesives, offer a superior strength-to-weight ratio. This attribute not only reduces the amount of lumber required but also enhances structural performance. The adoption of I-joists in residential and commercial new construction and replacement projects contributes significantly to the global I-joist market. The market's growth is fueled by the demand for sustainable and efficient building materials, which aligns with the industry's efforts to minimize greenhouse gas emissions and promote resource conservation.
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I-Joist Market Segmentation
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The Global I-Joist Market encompasses engineered wood products like I-Joists, utilized in construction for floors, roofs, and walls in residential and commercial buildings. I-Joists offer high load-bearing capacity and are available in fire-resistant coatings for enhanced structural integrity. They are essential in modular and prefab construction, commercial real estate, smart cities, and urban development. I-Joists are used for flooring installation, roof framing, and wall studs, replacing traditional materials such as plastic and metal. Their installation speed and ease contribute to the efficiency of the construction sector and real estate sector. I-Joists are suitable for renovating residential spaces, multi-story buildings, and roof rafters, ensuring superior structural performance and compliance with fire safety regulations.
In the expansive landscape of the global construction materials market, engineered wood products, such as I-Joists, occupy a significant segment. Manufacturers and providers of these materials contribute to this market, which encompasses the revenue generated by companies dealing in chemicals, construction materials, containers and packaging, metals and mining, and paper and forest products. The construction industry's resurgence serves as a primary growth driver, with the global market experiencing substantial expansion in recent years. This trend is expected to persist, fueled by the increasing demand for floors, roofs, walls, and load-bearing structures in both residential and commercial projects. Additionally, the adoption of fire-resistant coatings and prioritization of structural integrity further bolsters market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: media@technavio.com
Website: www.technavio.com/
