NEW YORK, Jan. 28, 2022 /PRNewswire/ -- Europe is currently the largest market for engineered wood products. Factors such as the high demand for premium and personalized wood products and the high purchasing power of consumers are driving the demand for engineered wood products in Europe.

The market will witness slower growth in Europe than in other regions. APAC, MEA, and South American markets are set to observe faster growth owing to rising industrialization and increasing urban population.

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Key Engineered wood products Market Report Highlights:

1. Market growth 2020-2025: 6985.34 million cubic feet
2. Growth momentum & CAGR: Accelerate at a CAGR of 6%
3. YoY growth (%) in 2021: 3.47%
4. Performing market contribution: Europe at 31%
5. Key consumer countries: China, the US, Germany, Japan, and India

Competitive Analysis
The competitive scenario provided in the engineered wood products market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.

Key Vendors and Vendor Strategies
Some of the major companies covered in this report are Boise Cascade Co., Celulosa Arauco y Constitucion SA, J M Huber Corp., Louisiana-Pacific Corp., Lowes Companies Inc., Patrick Industries Inc., Raute Corp., Roseburg Forest Products Co., West Fraser Timber Co. Ltd., and Weyerhaeuser Co.

The engineered wood products market is fragmented due to the presence of many local and international players. The rising competition in the market is driving vendors to adopt several organic and inorganic growth strategies to remain competitive in the market.

Boise Cascade Co.: The company manufactures laminated veneer lumber (LVL), I-joists, laminated beams, and structural, appearance, and industrial plywood panels. The company offers molding, ply, particleboard, fibrex, and many more.

Celulosa Arauco y Constitucion SA: The company offers forestry products such as sawlogs, pulp logs, chips, and others in Chile, Argentina, and Brazil. The company offers molding, ply, particleboard, fibrex, and many more.

J M Huber Corp.: The company manufactures innovative specialty products, including AdvanTech subflooring and subfloor adhesive; and ZIP System roof and wall sheathing, for residential and commercial building applications. The company offers molding, ply, particleboard, fibrex, and other products.

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Key Market Drivers
Factors such as increasing residential and commercial construction, demand for environmentally friendly and durable flooring, and the use of engineering wood products as an alternative to sawn wood will drive the growth of the engineered wood products market during 2020-2025. However, high volatility in raw material prices might hamper market growth.

• Increasing residential and commercial construction:

The construction industry is witnessing significant investments in infrastructural development in both developed and developing regions across the world. In developed economies such as the US, the governments are investing billions in infrastructural development. Developed countries are also witnessing an increase in the number of renovation and modification projects. In developing countries such as China and India, the construction industry is being driven by rising investments in the construction of new residences and business parks. All these factors are increasing the demand for engineering wood products, which is driving the growth of the market.

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Related Reports:

Wood Recycling Market by Material and Geography - Forecast and Analysis 2021-2025

Global Woodworking Machines Market by Application and Geography Forecast and Analysis 2022-2026

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