The engineered wood products segment
is gaining popularity and it is the fastest growing segment in manufactured
wood materials market. Engineered wood is manufactured by binding veneers,
boards of wood, fibers and particles with adhesives and it is widely used by
customers in the construction industry. They are pre-finished, durable, water
resistant and easier to mount. The engineered wood products include I-beams,
laminated veneer lumber products and glulam products. I-beam product is widely
used in load-bearing commercial and residential applications. These beams are
of high-strength and are used to manufacture supporting structures. The end
users of engineered wood products are non-residential floors manufacturers,
floor and roof remodelers, non-residential sectors and new residential roof
manufacturers.
THE BUSINESS RESEARCH COMPANY EXPECTS
THE MANUFACTURED WOOD MATERIALS MARKET TO GROW TO $445 BILLION BY 2021
Asia Pacific was the largest region in
the manufactured wood materials market in 2017, accounting for two-third of the
market share. This was mainly due to the large population in China and India
and real estate industry boom in the region, driving demand for wood flooring,
interiors, furniture, door
and windows.
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According to The Business Research
Company’s Consultant, Nitin Gianchandani, major
companies in this industry are entering into strategic partnerships and
collaborations with complementary industries. Some of the companies are
acquiring existing market players to increase its geographical presence and
enhance its expertise. For instance, In June 2016, ARAUCO completed 50% share
purchase agreement of Tafisa (a subsidiary of Portugal based company Sonae
Industrial) to form a new joint venture Sonae-Arauco. This joint venture will
focus on the manufacturing and marketing of OSB, MDF, particleboard panels, and
sawn timber. Through this initiative, ARAUCO focuses on strengthening its
manufactured wood materials market in Europe and South Africa.
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Georgia-Pacific was the largest wood product
manufacturing company, with revenues of $17.2 billion for the financial year
2016. The company engages in the manufacturing and marketing of tissue, pulp,
paper, packaging, and building products, and related chemicals. Its
sustainability strategy includes minimizing the impact on environment; paper
recovery and recycling; recycling its products; reusage of its products; and
renewing of its products. Its growth strategy includes strategic expansion in
new areas to strengthen its business operations. For instance, in September
2016, it completed lumber operation in its Gurdon, Arkansas with an investment
of $40 million. The expansion also includes the installation of a new
continuous dry kiln, a state-of-the-art planer mill.
Manufactured wood product
establishments manufacture veneer, plywood, engineered wood members and
reconstituted wood products. Some products produced by this industry include
hardwood and softwood veneer, fabricated and laminated wood arches, wood roof,
floor trusses, wood sheets and boards.
Manufactured Wood Materials Global
Market Report 2018 is a detailed report giving a unique insight into this market.
The report is priced at $4000 for an individual user. To use across your
office, the price is $6000 and $8000 if you wish to use across a multinational
company.
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