Engineered Wood Products Market Expected to Grow at a CAGR of 6% by 2025, Assessing Drivers, Challenges, Vendors and Segmentation

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NEW YORK, July 12, 2022 /PRNewswire/ — The engineered wood products market the size should increase by 6985.34 million cubic feest from 2020 to 2025, and record a 6% CAGR, according to Technavio’s latest market research report. The market for engineered wood products is fragmented and vendors are deploying organic and inorganic growth strategies to compete in the market. Boise Cascade Co., Celulosa Arauco y Constitucion SA, JM Huber Corp., Louisiana-Pacific Corp., Lowes Companies Inc., Patrick Industries Inc., Raute Corp., Roseburg Forest Products Co., West Fraser Timber Co. Ltd., and Weyerhaeuser Co. are some of the major players in the market.

Technavio has announced its latest market research report titled Engineered Wood Products Market by Type and Geography – Forecast and Analysis 2021-2025

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Engineered Wood Products Market 2021-2025: Scope

The report also covers the following areas:

Engineered Wood Products Market 2021-2025: Market Dynamics

Major driver:

  • The main drivers for the growth of the engineered wood products market are the increase in residential and commercial construction.

  • Developed economies, like the United States, plan to invest billions in infrastructure development. The increasing focus on infrastructure and real estate development, as well as the construction of new residences and offices, is expected to increase sales of new wood products and furniture.

  • In addition to new construction, the growing demand for wood products is also complemented by the increase in the number of renovation and modification projects in key countries such as the United States, China, and India. It is estimated that the increase in the number of multinational and global enterprises, as well as technology and business parks due to favorable trade relations between countries and government policies such as the relaxation of FDI, will increase the demand for wood products. office and commercial over the forecast period.

Major Challenges:

  • High volatility in raw material prices will be a major challenge for the engineered wood products market during the forecast period.

  • The price of wood has increased significantly in recent times. Also, the prices of raw materials such as particle board, wood, foam, polishing chemicals, color paints and hardware used in furniture manufacturing have increased. In the past, furniture manufacturers’ profit margins were negatively affected due to the shrinking gap between rising production costs and the ability of sellers to raise prices for their products in the market.

  • The price of medium quality furniture has recorded an increase of 25-30% due to the high cost of wood and its shortage. This, in turn, is hampering the growth of the market due to the low purchase rate due to the high cost of timber. All these factors collectively negatively impact the profitability of the engineered wood products market, thereby reducing growth.

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Engineered Wood Products Market 2021-2025: Segmentation Assessment

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Engineered Wood Products Market 2021-2025: Key Highlights

  • Market CAGR over the forecast period 2021-2025

  • Detailed information on the factors that will contribute to the growth of the engineered wood products market over the next five years

  • Estimation of the engineered wood products market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the engineered wood products market

  • Market Competitive Landscape Analysis and Detailed Vendor Information

  • Comprehensive details of the factors that will challenge the growth of the Engineered Wood Products Market vendors

Related reports:

Scope of the engineered wood products market

Report cover

Details

Page number

120

base year

2020

Forecast period

2021-2025

Growth momentum and CAGR

Accelerate at a CAGR of 6%

Market Growth 2021-2025

6985.34 million cubic feet

Market structure

Fragmented

Annual growth (%)

3.47

Successful market contribution

Europe at 31%

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

Boise Cascade Co., Celulosa Arauco y Constitucion SA, JM Huber Corp., Louisiana-Pacific Corp., Lowes Companies Inc., Patrick Industries Inc., Raute Corp., Roseburg Forest Products Co., West Fraser Timber Co. Ltd., and Weyerhaeuser Co.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

Contact

Technavio Research
Jesse Maida
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E-mail: [email protected]
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

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