Manufactured Wood Materials Global Market Report 2024

The manufactured wood materials market size has grown strongly in recent years. It will grow from $281.94 billion in 2023 to $302.41 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth observed in the historical period can be attributed to factors such as emerging market growth, an increase in residential construction activity, and low interest rates.

The manufactured wood materials market size is expected to see strong growth in the next few years. It will grow to $393.61 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The anticipated growth in the forecast period can be attributed to the expansion of e-commerce, an increasing demand for wooden furniture, and the ongoing process of urbanization. Key trends expected in this period include the provision of customized engineered wood products to the construction industry, the adoption of automation and robotics technologies to enhance production efficiency and reduce costs, the implementation of tracking and tracing technology to enhance credibility among stakeholders, and a focus on incorporating new and improved techniques in harvesting logs to increase wood volume with less residual damage.

The growth of the manufactured wood materials market is anticipated to be propelled by the increasing demand for construction. Construction involves the intricate processes of planning, designing, building, and assembling physical structures, facilities, or infrastructure. Manufactured wood materials play a crucial role in fostering sustainability, innovation, and efficiency in the construction industry, thereby yielding positive economic, environmental, and societal impacts. For example, Oxford Economics, a UK-based economic information services company, predicts a 42% increase, equivalent to $4.5 trillion, in global construction output between 2020 and 2030, reaching USD 15.2 trillion. The rising demand for construction acts as a driving force for the growth of the manufactured wood materials market.

The surge in demand for online shopping is expected to contribute to the growth of the manufactured wood materials market. Manufacturers now have the opportunity to expand their product reach on a global scale, attracting a broader customer base. This shift is particularly evident in countries such as India, where e-commerce platforms have significantly boosted the sales of wood manufacturers by providing greater exposure to producers who were previously confined to specific geographic regions.

Manufactured wood material companies are increasingly incorporating automation and robotics into their operations to boost productivity and reduce costs. Robotics are deployed in areas where working conditions for human labor may be unsafe, and automation is implemented to complement human labor, enhancing operational efficiency. According to a survey conducted by the Manufacturers Alliance and the MN Precision Manufacturing Association, 38% of respondents were already utilizing automation or robotics, and 32% were in the process of implementing these technologies. Key players offering automation equipment include Timber Automation and CG Power and Industrial Solutions.

Leading companies in the manufactured wood materials market are concentrating on innovative products, such as ready-to-use plywood and board techply, to provide reliable services to their customers. Ready-to-use plywood and board are engineered wood products designed for convenience and ease of use in various construction and woodworking applications. These pre-finished products eliminate the need for additional surface finishing before installation. For instance, in June 2023, Duroply Industries Limited, an India-based company specializing in manufacturing plywood and related wood-based products, introduced India’s first ready-to-use plywood and board, known as techply. Techply is a versatile solution suitable for various applications, featuring a veneer-such as finish for direct usage in furniture construction. Constructed from European beech hardwood with smooth ornamental surfaces, Techply exhibits enhanced strength and solidity compared to conventional plywood due to its excellent mechanical characteristics.

Major companies operating in the manufactured wood materials market report are Georgia-Pacific, Weyerhaeuser, Boise Cascade, West Fraser Timber Co Ltd., Universal Forest Products, UPM-Kymmene Corporation, Metsa Group, Potlatch Corporation, Austral Plywoods Pty Ltd., Eksons Corporation Bhd, Jilin Sen Workers' Forming Group Co., Ltd., Daya Shengxiang Home Co., Ltd., Xuzhou Mega Industries, Yalong Wood, Century Plyboards India Ltd., Greenply Industries Ltd., HOKUSAN, Caledonian Plywood Company Ltd., Hanson Plywood, Garnica Plywood Samazan, IMCA Panels, Templin OHG, Syktyvkar Plywood Mill Ltd., Plyterra Group, Segezha Group, JAF Group, Au-Mex, Hancock Timber Resource Group, RSH Forest Products, Sierra Pacific, Berneck, Araupel, Linea Parana Madeiras Ltda, Imaribo, Middle East Wood, Mazi Orman Urunleri Ltd., Dastas Demircioglu Agac A.S., Daco Parquet Factory AS, Gabon Veneer, Merensky, Miro Forestry and Timber Products, United Forest Products, Afeefa Overseas Sarl Gabon, Okoume Face Veneer.


Asia-Pacific was the largest region in the manufactured wood materials market in 2023. North America was the second largest region in the manufactured wood materials market. The regions covered in the manufactured wood materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the manufactured wood materials market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa. The market for manufactured wood materials consists of sales of laminated veneer lumber, Glulam, Oriented Strand Boards, pinewood, and spruce wood. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The main types of manufactured wood materials include reconstituted wood, plywood, and veneer sheets. Reconstituted wood is produced by rotary sawing wood sheets, gluing them together, and treating them to resemble various other woods. Reconstituted wood is used in the manufacturing of wall coverings, workstations, cabinetry, parquet flooring, and bookcases. Different types of wood plants, such as teak, oak, and others, are utilized for residential and commercial applications in the production of manufactured wood materials.

The manufactured wood materials market research report is one of a series of new reports that provides manufactured wood materials market statistics, including manufactured wood materials industry global market size, regional shares, competitors with a manufactured wood materials market share, detailed manufactured wood materials market segments, market trends and opportunities, and any further data you may need to thrive in the manufactured wood materials industry. This manufactured wood materials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.