Engineered Wood Products (EWP) are a type of composite material made from wood fibers and adhesives. They are created by breaking down wood into small fibers and then bonding them together with resin or glue to form a strong and durable product. EWP includes products such as laminated veneer lumber (LVL), oriented strand board (OSB), and glued laminated timber (glulam).
The global market size for Engineered Wood Products is expected to reach US$284761 million by 2022, growing at a compound annual growth rate of 6.2%. The growth in the market can be attributed to several factors, including the advantages offered by EWP over traditional wood products, such as their increased strength, dimensional stability, and resistance to warping and moisture.
EWP is mainly used in construction for a range of applications, including schools, public buildings, large warehouse complexes, and hotels. EWP provides greater design flexibility and versatility, allowing for larger spans and more complex shapes to be created. It also reduces waste and offers better sustainability compared to traditional wood products, making it an increasingly popular choice for environmentally conscious consumers.
In terms of industry status, there are several major global manufacturers of EWP dominating the market, including Arauco, Boise Cascade, Lowes, Roseburg, and Weyerhauser. These companies offer a wide range of EWP products and solutions for various construction needs. The market is highly competitive, with manufacturers constantly developing new products and technologies to meet the increasing demand for EWP.
Looking forward, the prospects for the EWP industry are promising. The growing trend towards sustainable and eco-friendly construction is driving demand for EWP, along with the increasing need for cost-effective and versatile building materials. The rise in construction activities in emerging economies, increasing urbanization, and growth in infrastructure development projects are expected to drive demand for EWP in the coming years.
However, the EWP industry faces several challenges that could impact its growth. The volatility of raw material prices and the fluctuations in the construction industry can affect the demand and supply dynamics of EWP. The competition from alternative materials, such as steel and concrete, may also pose a threat to the industry's growth.
Overall, the Engineered Wood Products industry is vital to the construction sector, providing cost-effective and sustainable solutions with increasing demand. With major global players operating in the market, there will be continued innovation and development to meet the demands of the growing construction industry. Despite challenges, the EWP market is expected to continue growing in the coming years, providing significant opportunities for manufacturers and vendors in the industry.
The SWOT analysis of the Engineered Wood Products industry is as follows:
Strengths:
Sustainable and eco-friendly: Engineered wood products are sustainable and eco-friendly, making them a popular choice for environmentally conscious consumers.
High strength and dimensional stability: EWP provides greater strength and dimensional stability compared to traditional wood products, making them ideal for use in construction.
Versatile: The versatility of EWP allows for more design flexibility and complex shapes to be created.
Cost-effective: EWP is cost-effective compared to alternative materials like steel and concrete.
Weaknesses:
Limited applications: The use of EWP is limited to certain applications in construction, such as flooring, roofing, and cladding.
Quality control: Maintaining consistent quality across different batches of EWP can be a challenge due to the variations in raw materials.
Fire resistance: Fire resistance can be a concern with certain types of EWP.
Opportunities:
Emerging markets: The increasing demand for EWP in emerging markets presents an opportunity for growth and expansion.
Innovation and development: Continued research and development can lead to new and improved EWP products and solutions.
Sustainable materials: Further innovation in sustainable materials can improve the sustainability credentials of EWP.
Threats:
Competition from other materials: Competition from alternative materials like steel and concrete may pose a threat to the EWP industry.
Regulatory changes: Changes in regulations related to forestry and woodworking can impact the availability and cost of raw materials.
Economic volatility: Changes in the global economy can significantly impact demand for EWP across industries.
Key players in global Engineered Wood Products market include:
Arauco
Boise Cascade
Lowes
Roseburg
Weyerhauser
Market segmentation, by product types:
LVL
Structural wood I-beams
Glued laminated timber (glulam)
Others
Market segmentation, by applications:
Schools
Public Buildings
Large Warehouse Complexes
Hotels
Summary:
Get latest Market Research Reports on Engineered Wood Products. Industry analysis & Market Report on Engineered Wood Products is a syndicated market report, published as Global Engineered Wood Products Market Report 2018-2029. It is complete Research Study and Industry Analysis of Engineered Wood Products market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.