Market Size of Engineered Wood Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Engineered Wood Market Analysis
The engineered wood market is expected to register a CAGR of over 5% during the forecast period.
The COVID-19 pandemic had a negative impact on the market, however, the market for engineered wood has now been close to reaching pre-pandemic levels because of increasing construction and restoration activities in the post-pandemic period.
- Over the medium term, growing demand from the non-residential sector and increasing use of cross-laminated timber (CLT) as a construction material are likely to drive the market in the forecast period.
- On the flip side, stringent environmental concerns related to formaldehyde emissions are likely to hinder the market growth.
- The growing residential construction in India and China is expected to act as an opportunity in the forecast period.
- The Asia-Pacific region is likely to dominate the global market and is expected to witness the highest consumption of engineered wood during the forecast period.
