Engineered Wood Market Size & Share Analysis - Growth Trends & Forecasts

The Engineered Wood Market Report Segments the Industry by Product Type (Plywood, Oriented Strand Board (OSB), Glulam, Cross-Laminated Timber (CLT), and More), Wood Source (Softwood and Hardwood), Application (Residential and Non-Residential), End-User Industry (Building and Construction, Furniture Manufacturing, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Engineered Wood Market Size and Share

Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.

Engineered Wood Market Analysis by Mordor Intelligence

The Engineered Wood market size is currently valued at 285.19 million m³ in 2024 and is forecast to reach 383.07 million m³ by 2030, translating into a 4.88 %CAGR for the 2025-2030 period. This scale reflects the market’s progressive shift toward sustainable building practices, with wood-based composites steadily displacing steel, concrete, and solid lumber in structural and non-structural applications. Continued urbanization, especially in Asia Pacific, is sustaining volume growth even as per-capita material intensity falls in mature economies. The market’s forward course suggests that sustainability regulations function less as a constraint and more as an accelerant, as companies able to certify ultra-low-emitting product lines capture a growing share of high-margin specifications in green public procurement.

Key Report Takeaways

  • By product type, the plywood segment held 42% of the market share, while the cross-laminated segment is advancing at a 12.4% CAGR to 2030.
  • By wood source, softwood accounted for 71.5% of the Engineered Wood market in 2024, while hardwood is growing at a 9.6% CAGR to 2030. 
  • By application, the residential segment held 65% of the market share in 2024 and is advancing at a 5.3% CAGR to 2030.
  • By end-user industry, building and construction held 81% of the market share in 2024; furniture and interior fit-out is growing at a CAGR of 8.91% through 2030. 
  • By geography, Asia-Pacific held 48% of the market in 2024, while North America is the fastest growing with a 6.26% CAGR.

Segment Analysis

Product Type: Plywood Dominates While CLT Accelerates

  • Plywood retains the largest Engineered Wood market share at an estimated 42 % in 2024, leveraging its mature supply chain and versatility in structural sheathing and furniture paneling. Volume growth, however, is slowing as CLT, posting a double-digit forecast CAGR of 12.4% through 2030, moves from pilot status to mainstream adoption in multi-family housing. 
Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.

Note: Segment shares of all individual segments available upon report purchase

Wood Source: Softwood Supremacy Faces Hardwood Challenge

Softwood maintains roughly 71.5 % of the Engineered Wood market size in 2024, owing to its favorable strength-to-weight ratio, fast regrowth cycles, and long-standing silvicultural infrastructure. The softwood segment demonstrates stable, albeit decelerating, volume growth as supply curves flatten in major producing regions. 

Hardwood engineered panels are forecast to register a 9.6 %CAGR from 2025-2030, the fastest among fiber sources, as research validates the structural capabilities of species like yellow poplar and birch. 

Application: Residential Construction Leads Growth Trajectory

Residential construction commands 65 % of the Engineered Wood market share today and is projected to expand at a 5.3 %CAGR through 2030 on the back of persistent housing shortages. In the United States alone, the inventory gap of 7.2 million single-family homes underscores how structural demand for floor and roof panels will remain elevated even if mortgage rates oscillate. Early evidence suggests that mass-timber apartment buildings achieve higher leasing velocity, giving developers a financial rationale to specify engineered wood over concrete. Furthermore, prefabricated wall panels cut on-site noise and dust, a feature that improves community acceptance in dense urban infill projects.

End-User Industry: Building and Construction Dominates While Furniture Accelerates

Building and Construction represents 81 % of the current Engineered Wood industry revenues, underpinned by policy mechanisms such as Canada’s GCWood program, which subsidizes demonstration projects and accelerates code familiarization. Furniture and Interior Fit-Out is forecast to post an 8.91 %CAGR, the sharpest among downstream industries, as digital routers and laser scanners enable mass customization of engineered panels at consumer price points. 

Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.

Note: Segment shares of all individual segments available upon report purchase

Geography Analysis

Asia Pacific accounts for 48 % of the global Engineered Wood market size in 2024, underlining how rising urbanization and public housing targets propel demand. China’s consumption of 500-600 million m³ of timber each year, with domestic output forecast at 121 million m³ in 2024, sets the supply-demand tone for adjoining nations[1]U.S Department of Agriculture, "Solid Wood Annual 2024," apps.fas.usda.gov.

North America is the fastest-growing region, projected at a 6.26 %CAGR through 2030, thanks to an accelerating mass-timber pipeline and chronic housing undersupply. The United States logged 1,753 completed or under-construction mass-timber projects as of March 2023[2]Library of Congress, "Mass Timber: Overview and Issues for Congress," crsreports.congress.gov.

Europe retains a strong presence, supported by long-standing forestry stewardship and aggressive decarbonization mandates. Scandinavian countries, already leaders in per-capita timber construction, are piloting hybrid timber-concrete bridge decks that further diversify engineered wood use cases. 

Engineered Wood Market
Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.

Competitive Landscape

The Engineered Wood market is highly fragmented, with vertically integrated forest product companies accounting for a rising proportion of global capacity. Medium-sized regional players counterbalance scale disadvantages by specializing in niche offerings, such as ultra-thin veneers or FSC-certified decorative panels, which command price premiums and nurture loyal customer bases.

Engineered Wood Industry Leaders

  1. Louisiana-Pacific Corporation

  2. Georgia-Pacific Gypsum LLC and Georgia-Pacific Wood Products LLC.

  3. Weyerhaeuser Company

  4. West Fraser Timber Co.

  5. Stora Enso

  6. *Disclaimer: Major Players sorted in no particular order
Engineered Wood Market
Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.
Need More Details on Market Players and Competitors?
Download PDF

Recent Industry Developments

  • December 2024: Kronoplus Limited (Kronospan) inaugurated a EUR 200 million (USD 228 million) OSB mill in Rivne, Ukraine. The facility adds 700,000 m³ of annual capacity and signals renewed investor confidence in Eastern European panel production despite geopolitical headwinds.
  • November 2024: Weyerhaeuser committed USD 500 million to construct a new TimberStrand facility in Arkansas, slated for 2027 operation. The plant will double the company’s TimberStrand capacity, reflecting expectations of enduring demand for strand-based structural lumber.

Table of Contents for Engineered Wood Industry Report

1. Introduction

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. Research Methodology

3. Executive Summary

4. Market Landscape

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Adoption of Cross-Laminated Timber (CLT) in Mid-Rise Buildings across Europe and North America
    • 4.2.2 Prefab Affordable-Housing Push Fueling LVL and Glulam Demand in Asia
    • 4.2.3 Increasing Use of Cross-laminated Timber (CLT) as Construction Materials
    • 4.2.4 Engineered wood offers cost-effective alternatives to solid wood.
    • 4.2.5 Rising demand for sustainable building materials drives engineered wood adoption.
  • 4.3 Market Restraints
    • 4.3.1 Tightening Formaldehyde/VOC Emission Caps in Asia Pacific and Europe
    • 4.3.2 Supply Chain Disruptions
    • 4.3.3 High Initial Investment Costs
  • 4.4 Value Chain Analysis
  • 4.5 Porter's Five Forces
    • 4.5.1 Bargaining Power of Suppliers
    • 4.5.2 Bargaining Power of Buyers
    • 4.5.3 Threat of New Entrants
    • 4.5.4 Threat of Substitutes
    • 4.5.5 Competitive Rivalry

5. Market Size and Growth Forecasts (Volume)

  • 5.1 By Product Type
    • 5.1.1 Plywood
    • 5.1.2 Oriented Strand Board (OSB)
    • 5.1.3 Glulam
    • 5.1.4 Cross-Laminated Timber (CLT)
    • 5.1.5 Laminated Veneer Lumber (LVL)
    • 5.1.6 Particleboard
    • 5.1.7 Other Engineered Products
  • 5.2 By Wood Source
    • 5.2.1 Softwood
    • 5.2.2 Hardwood
  • 5.3 By Application
    • 5.3.1 Residential
    • 5.3.2 Non-Residential
  • 5.4 By End-User Industry
    • 5.4.1 Building and Construction
    • 5.4.2 Furniture Manufacturing
    • 5.4.3 Others
  • 5.5 By Geography
    • 5.5.1 Asia-Pacific
    • 5.5.1.1 China
    • 5.5.1.2 India
    • 5.5.1.3 Japan
    • 5.5.1.4 South Korea
    • 5.5.1.5 Malaysia
    • 5.5.1.6 Thailand
    • 5.5.1.7 Indonesia
    • 5.5.1.8 Vietnam
    • 5.5.1.9 Rest of Asia-Pacific
    • 5.5.2 North America
    • 5.5.2.1 United States
    • 5.5.2.2 Canada
    • 5.5.2.3 Mexico
    • 5.5.3 Europe
    • 5.5.3.1 Germany
    • 5.5.3.2 United Kingdom
    • 5.5.3.3 France
    • 5.5.3.4 Italy
    • 5.5.3.5 Spain
    • 5.5.3.6 Turkey
    • 5.5.3.7 Russia
    • 5.5.3.8 Nordic
    • 5.5.3.9 Rest of Europe
    • 5.5.4 South America
    • 5.5.4.1 Brazil
    • 5.5.4.2 Argentina
    • 5.5.4.3 Colombia
    • 5.5.4.4 Rest of South America
    • 5.5.5 Middle-East and Africa
    • 5.5.5.1 Saudi Arabia
    • 5.5.5.2 United Arab Emirates
    • 5.5.5.3 Qatar
    • 5.5.5.4 Egypt
    • 5.5.5.5 Nigeria
    • 5.5.5.6 South Africa
    • 5.5.5.7 Rest of Middle-East and Africa

6. Competitive Landscape

  • 6.1 Market Concentration
  • 6.2 Strategic Moves (Mergers and Aacquistions, JV, Capacity Expansions, Patents)
  • 6.3 Market Share Analysis
  • 6.4 Company Profiles {(includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share, Products and Services, Recent Developments)}
    • 6.4.1 Binderholz GmbH
    • 6.4.2 Boise Cascade
    • 6.4.3 EGGER
    • 6.4.4 Georgia-Pacific Gypsum LLC and Georgia-Pacific Wood Products LLC.
    • 6.4.5 HASSLACHER Holding GmbH
    • 6.4.6 Huber Engineered Woods LLC
    • 6.4.7 KLH Massivholz GmbH
    • 6.4.8 Kronoplus Limited
    • 6.4.9 Louisiana-Pacific Corporation
    • 6.4.10 Mayr-Melnhof Holz Holding AG
    • 6.4.11 Nordic Structures
    • 6.4.12 PWT
    • 6.4.13 Pfleiderer
    • 6.4.14 Resolute Forest Products Inc.
    • 6.4.15 Roseburg Forest Products
    • 6.4.16 Stora Enso
    • 6.4.17 SWISS KRONO Group
    • 6.4.18 West Fraser Timber Co.
    • 6.4.19 Weyerhaeuser Company

7. Market Opportunities and Future Outlook

  • 7.1 White-Space and Unmet-Need Assessment
  • 7.2 Renovation and Retrofitting Boom
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Global Engineered Wood Market Report Scope

Engineered wood is a man-made wood product manufactured by binding strands, fibers, and wood chips with adhesives to make composite wood structures.

The engineered wood market is segmented based on type, application, and geography. By type, the market is segmented into plywood, oriented strand board (OSB), glulam, cross-laminated timber (CLT), laminated veneer lumber (LVL), particleboard, and other types (fiberboard, parallel strand, others). By application, the market is segmented into non-residential and residential. The report also covers the market sizes and forecasts for the engineered wood market in 27 countries across major regions. For each segment, the market sizes and forecasts are provided based on volume (thousand cubic meters).

By Product Type Plywood
Oriented Strand Board (OSB)
Glulam
Cross-Laminated Timber (CLT)
Laminated Veneer Lumber (LVL)
Particleboard
Other Engineered Products
By Wood Source Softwood
Hardwood
By Application Residential
Non-Residential
By End-User Industry Building and Construction
Furniture Manufacturing
Others
By Geography Asia-Pacific China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America United States
Canada
Mexico
Europe Germany
United Kingdom
France
Italy
Spain
Turkey
Russia
Nordic
Rest of Europe
South America Brazil
Argentina
Colombia
Rest of South America
Middle-East and Africa Saudi Arabia
United Arab Emirates
Qatar
Egypt
Nigeria
South Africa
Rest of Middle-East and Africa
By Product Type
Plywood
Oriented Strand Board (OSB)
Glulam
Cross-Laminated Timber (CLT)
Laminated Veneer Lumber (LVL)
Particleboard
Other Engineered Products
By Wood Source
Softwood
Hardwood
By Application
Residential
Non-Residential
By End-User Industry
Building and Construction
Furniture Manufacturing
Others
By Geography
Asia-Pacific China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America United States
Canada
Mexico
Europe Germany
United Kingdom
France
Italy
Spain
Turkey
Russia
Nordic
Rest of Europe
South America Brazil
Argentina
Colombia
Rest of South America
Middle-East and Africa Saudi Arabia
United Arab Emirates
Qatar
Egypt
Nigeria
South Africa
Rest of Middle-East and Africa
Need A Different Region or Segment?
Customize Now

Key Questions Answered in the Report

What is the current Engineered Wood market size?

The global Engineered Wood market size stands at 299.11 million cubic meters in 2025.

How fast is the Engineered Wood industry expected to grow?

Industry volume is forecast to expand at a 4.88 %CAGR between 2025 and 2030.

Which product type is growing the quickest?

Cross-Laminated Timber is the fastest-growing product, supported by evolving building codes and sustainability mandates.

Why is Asia Pacific the largest regional market?

Rapid urbanization, government housing initiatives, and established plywood supply chains give Asia Pacific a 48 % market share.

Engineered Wood Market Report Snapshots

Access Report