About Engineered Hardwood
Engineered hardwood is also called as composite wood. It is consist of several wood products by joining veneers, fibers, particles and strands of wood with adhesives to form a man-made composite material. The global engineered hardwood market has been on a high growth on account of the environment-friendly nature as well as extraordinary sustainability of the products. There are various applications of engineered hardwood in both residential as well as non-residential construction sectors.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Engineered Hardwood is a fragmented market due to the presence of various players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Engineered Hardwood market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Celulosa Arauco y Constitución (Chile), Boise Cascade Company (United States), Lowe's Companies, Inc. (United States), Roseburg Forest Products (United States), Weyerhaeuser (United States), Georgia Pacific Wood Products, LLC (United States), Universal Forests Products, Inc. (United States), Huber Engineered Wood LLC (United States), CST Timber Co (United States) and Rockshield Engineered Wood products ULC (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Kahrs Group (Sweden), Shenzhen Risewell Industry Co., Ltd. (China) and Louisiana Pacific Corporation (United States).
Segmentation Overview
AMA Research has segmented the market of Global Engineered Hardwood market by Type (Plywood, Laminated veneer, I-beams, Glulam, Oriented strand boards, Fiberboard and Cross laminated Timber), Application (Residential and Non-residential) and Region.
On the basis of geography, the market of Engineered Hardwood has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Engineered Hardwood market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rise in Demand for Engineered Timber and Increased Import of Raw Wood
Market Growth Drivers:
Owing To High Disposable Income and High Demand Due To It Can Be Designed As Per the Demand and Custom Specifications
Challenges:
Comparatively More Durable than the Conventional Wood and Wood Products and Adverse Environmental Challenges Hampering the Demand for Wooden Bi-products
Restraints:
Threats of Substitutes such as Natural Wood, Plastic, PVC and Many Others and Difficult Installments of Hardwood Floors
Opportunities:
Stringent Government Regulations for Substitutes such as Conventional Wood and Plastic or PVC and Growing Home Furniture Industry will Generate Excessive Demand
Market Leaders and their expansionary development strategies
In May 2022, Bauwerk Group AG has announced the acquisition of Somerset Hardwood Flooring, a vertically integrated forest products. With the acquisition, Bauwerk Group AG strengthens its global profile and gains a stronger foothold in the growing North American flooring markets.
In June 2018, composite wood products which are sold, supplied, manufactured, or imported in the United States are required to be labeled as CARB ATCM Phase II or TSCA Title VI compliant. In addition to this, from March 22, 2019, EPA has mandated that these composite wood products must be labeled as TSCA Title VI compliant. These products include hardwood plywood, medium-density fiberboard, and particleboard, as well as household and other finished goods containing these products.
"On December 12, 2016, United States Environmental Protection Agency and (EPA) has published a final rule in the Federal Register to reduce exposure to formaldehyde emissions from certain wood products produced domestically or imported into the United States. EPA worked with the California Air Resources Board (CARB) to help ensure the final national rule was consistent with California’s requirements for similar composite wood products. "
Key Target Audience
Engineering Hardwood Manufacturers, Hardwood Distributors and Traders, Environmental Regulators, Home Furnishing Industry Associations, Research and Development Organizations, Government Agencies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.