Industry Background:
Composite wood, also known as engineered wood, is containing the same woods that are used in lumber, but they are combined to make them stronger and more durable. Composite woods are used in applications like cabinets, furniture, sheathing, flooring, and siding. They are less expensive than hardwood and weather-resistant when painted or sealed.This growth is primarily driven by Rise in Construction and Infrastructure Demands for Modern House and Office Interiors and Growth in Demand for Furnitures and Water-Resistant Wood.
Globally, a noticeable market trend is evident Development in Wood Composite Material for More Stiffness and Different Property Enhancement like Termite-Resistance. The Materials sector in the Asia Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Trex Company, Inc. (United States), Advanced Environmental Recycling Technologies, Inc. (United States), Axion International, Inc. (United States), Beologic N.V. (Belgium), Certainteed Corporation (United States), Fiberon, LLC (United States), Fkur Kunststoff GmbH (Germany), Polymera, Inc. (United States), Tamko Building Products, Inc. (United States) and Timbertech Ltd. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2019, Certainteed Corporation acquired Norton Industries' wood ceilings business. This acquisition complement wood ceilings and walls portfolio with a strong lineup of composite wood products that complement our custom wood designs.
In 2021, Square Foot launched of ‘Co-extrusion’, a range of outdoor composite deck. It is a capped wood plastic composite having an advanced premium shield encasing all four sides around its inner core.
Market Drivers
- Rise in Construction and Infrastructure Demands for Modern House and Office Interiors
- Growth in Demand for Furnitures and Water-Resistant Wood
Market Trend
- Development in Wood Composite Material for More Stiffness and Different Property Enhancement like Termite-Resistance
Restraints
- Requirement of Extra Energy and Power for Manufacturing May Hamper the Market Growth
- Health Hazards and Toxicity with Adhesives Used for Composites
Opportunities
Rise in Manufacturing Transparent Wood Composites for Laboratories Use Where Transparency and Stiffness combined Via a Chemical Process
Challenges
Availability of Alternatives like Light Weight Metals in the Market
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Composite Wood Study Sheds Light on
The Composite Wood Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Composite Wood industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Composite Wood industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.