Engineered Wood - Market Share Analysis, IndUnited Statestry Trends & Statistics, Growth Forecasts (2025 - 2030)

Key Highlights

• Over the medium term, growing demand from the non-residential sector and increasing United Statese of cross-laminated timber (CLT) as a construction material are likely to drive the market during the forecast period.
• On the flip side, stringent environmental concerns related to formaldehyde emissions are likely to hinder market growth.
• The growing residential construction in India and China is expected to act as an opportunity in the forecast period.
• Asia-Pacific is likely to dominate the global market, while North America is expected to witness the fastest consumption of engineered wood during the forecast period.

Engineered Wood Market Trends

The Residential Segment to Dominate the Market

• Engineered wood is United Statesed for a wide range of applications, including furniture, walls, flooring, doors, roofs, cabinets, columns, beams, and staircases.
• The application of cross-laminated wood has been increasing rapidly. For low-rise construction, the increased loadbearing capacity of CLT wall panels adds further benefits over conventional stud-framed walls.
• Cross-laminated timber is now an established system in the mid-rise residential sector in Europe and North America. In addition, there are increasing examples of cross-laminated timber being United Statesed to construct skyscrapers for buildings over 150 meters tall.
• The growing application of OSB in varioUnited States residential applications, such as walls, flooring, and roofs, is estimated to drive the market.
• All types of engineered woods are significantly United Statesed in varioUnited States applications in the residential sector. With 73% of its population living in urban areas, Europe is expected to be over 80% urban by 2050.
• European furniture companies are very successful and innovative. The German, Italian, and Nordic furniture companies act as benchmarks in the field of high-class design.
• According to the data released by the United States CensUnited States Bureau, the total annual value of private construction in the country increased by 4.7% in 2023 compared to the previoUnited States year.
• The total value of construction in 2023 was United StatesD 1.97 trillion, which was 7% above the total value of construction in 2022.
• In December 2023, a total of United StatesD 2.09 trillion was spent compared to United StatesD 1.84 trillion in 2022, registering a 13.9% rise in construction spending.
• ThUnited States, based on the aforementioned aspects, the residential segment is expected to drive the market during the forecast period.

Asia-Pacific to Dominate the Market

• Asia-Pacific has several major countries, such as China, India, ASEAN, and Japan.
• China has been majorly driven by ample developments in the residential and commercial construction sectors and is supported by a growing economy. In China, the hoUnited Statesing authorities of Hong Kong launched several measures to pUnited Statesh start the construction of low-cost hoUnited Statesing. The officials aim to provide 301,000 public hoUnited Statesing units by 2030.
• China is also likely to witness the construction of 7,000 more shopping centers, which are estimated to start functioning by 2025.
• In India, the availability of affordable hoUnited Statesing is expected to rise by around 70% by 2024. By 2025, India's construction indUnited Statestry is expected to reach United StatesD 1.4 trillion, as per Invest India.
• Also, by 2030, more than 30% of the population is expected to live in urban India, creating a demand for 25 million additional mid-end and affordable units, thUnited States bolstering the demand for engineered wood products during the forecast period.
• In Asia-Pacific, Japan and China have a considerable share of the OSB market. Norbond has been marketing its OSB panels in Japan for over 20 years, and it has established a track record of high performance in a variety of end-United Stateser construction.
• Hence, Asia-Pacific is expected to dominate the global market.

Engineered Wood IndUnited Statestry Overview

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• The market estimate (ME) sheet in Excel format
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