Increase In Application Of Engineered Wood Products

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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