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Engineered Wood Market Analysis & Forecast Research Report 2023

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Mayur Yewale
Engineered Wood Market Analysis & Forecast Research Report 2023

The global engineered wood market is projected to grow at a CAGR of 12.82% during the forecast period. As per the engineered wood market research report, the global market for engineered wood is projected to grow swiftly by US$24.12 million by 2023. According to analysts, scarcity of wood products as well as government norms and regulations will drive the market growth during the forecast period. The engineered wood market research report offers a comprehensive analysis of the global engineered wood market and its applications and product type segments. The concerns regarding durability along with lack of favorable properties are the elements that could influence the engineered wood market advancement throughout the forecast period. The engineered wood market research report by expert analysts is developed to assist organizations in the engineered wood market.

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Market Segmentation

The global engineered wood market has been segmented into product types and applications. 

By product type, the global market has been segmented into plywood, laminated veneer lumber (LVL), glulam, I-beams, and cross laminated timber (CLT).

By application, the global engineered wood market has been segmented into residential and non-residential. 

Regional Analysis

Europe dominates the global engineered wood market. This market has increased rapidly in the past decade despite the economic downturn. The largest market share attributes to the growing usage of engineered wood products in construction projects and the resurging construction sector in the region. Moreover, increasing consumer preference for green buildings and sustainable materials in the region influences the growth of the market.

North America stands second in the global engineered wood market. The region is witnessing a steady rise in demand for engineered wood. The market growth is driven by the spurting rise in the adoption of engineered wood products in the burgeoning construction region. Additionally, the economic and political stability drive the growth of the regional market.

The Asia Pacific region is the fastest-growing market for engineered wood.  Factors such as the massive consumption of engineered wood products in various industries in the region substantiate market growth. Also, the rapidly growing construction sectors and the construction and upgrade activities in the region foster the market demand. Besides, the growing residential and non-residential construction activities increase the engineered wood market size.

Major Players:

Players leading the global engineered wood market are Boise Cascade Company (US), Celulosa Araucoy Constitución (Chile), Lowe's Companies, Inc.(US), Weyerhaeuser (US), Roseburg Forest Products (US), Georgia Pacific Wood Products, LLC (US), Huber Engineered Wood LLC (US), Universal Forests Products, Inc. (US), CST Timber Co (US), Kahrs Group (Sweden), and Rockshield Engineered Wood products ULC (US), among others.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/engineered-wood-market-4791

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