Engineered Wood Market Size, Share, Growth Report, 2034

Engineered Wood Market

Engineered Wood Market By Application (Furniture, Construction, Flooring, and Others), By Type (Plywood, I-Beam, and Laminated Veneer Lumber (LVL)), By End-User (Industrial, Residential, and Commercial), And By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2025 - 2034

Category: Chemical & Materials Report Format : PDF Pages: 180 Report Code: ZMR-2093 Published Date: May-2025 Status : Published
Market Size in 2024 Market Forecast in 2034 CAGR (in %) Base Year
USD 281.7 Million USD 483.63 Million 5.7% 2024

Engineered Wood Industry Prospective:

The global engineered wood market size was worth around USD 281.7 Million in 2024 and is predicted to grow to around USD 483.63 Million by 2034 with a compound annual growth rate (CAGR) of roughly 5.7% between 2025 and 2034. The report analyzes the global engineered wood market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the engineered wood industry.

Global Engineered Wood Market sizeRequest Free Sample

Engineered Wood Market: Overview

Engineered wood, as the name suggests, is artificially created and is also known as manufactured board, composite wood, mass timber, or man-made wood. They are more or fewer derivatives of wood products that are created by fixing or binding fibers, strands, veneers, particles, or in some cases boards of wood. The binding is done using different methods of fixation or by using adhesives to give rise to the composite material, which describes any material manufactured using different types of constituent materials. Generally, engineered woods are manufactured with softwoods or using hardwoods.

The former indicated wood generated from gymnosperm trees whereas the latter is generated from angiosperm trees. There are different types of adhesives used in the process. The least expensive and the most common adhesive is urea formaldehyde resin (UF), however, it is not waterproof. For products that exhibit exterior exposure, phenol-formaldehyde resins are most commonly used. They are yellow or brown. Melamine-formaldehyde resins (MF) are more expensive but also widely used in cases of surfaces that are exposed if the budget is high.

Key Insights

  • As per the analysis shared by our research analyst, the global engineered wood market is estimated to grow annually at a CAGR of around 5.7% over the forecast period (2025-2034).
  • Regarding revenue, the global engineered wood market size was valued at around USD 281.7 Million in 2024 and is projected to reach USD 483.63 Million by 2034.
  • The engineered wood market is projected to grow at a significant rate due to increasing construction activities and sustainable alternatives to solid wood.
  • Based on Application, the Furniture segment is expected to lead the global market.
  • On the basis of Type, the Plywood segment is growing at a high rate and will continue to dominate the global market.
  • Based on the End-User, the Industrial segment is projected to swipe the largest market share.
  • Based on region, Asia-Pacific is predicted to dominate the global market during the forecast period.

Global Engineered Wood MarketRequest Free Sample

To know more about this report, request a sample copy.

Engineered Wood Market: Growth Drivers

Economic benefits offered by engineered wood to drive market growth

The global engineered wood market is anticipated to grow owing to the economical value offered by composite woods as compared to hardwood. In most cases, engineered wood offers the same kind of physical and mechanical benefits as their counterparts at a relatively lower cost thus making them a preferred choice amongst a large section of consumers, especially in home care settings. Man-made wood is more flexible in terms of meeting consumer requirements as they are comparatively easy to mold.

They are readily available unlike hardwood and do not harm the environment which is drastically affected in the case of the use of actual wood due to cutting of trees at a large scale further consequences like soil erosion are also prevented when using engineered wood. These materials can easily be drilled, glued, fastened, and cut without much hassle while also offering cost efficiency. They are widely used in the creation or manufacturing of units like wardrobes, wall partitioning, ceilings, cabinets, flooring, and others.

Engineered Wood Market: Restraints

Toxicity related to man-made woods to restrict market expansion

The global market may witness limitations during its growth period due to the use of toxic materials that are used as adhesives to manufacture engineered woods. Some of these chemicals include formaldehyde, which is an extremely toxic poison that the body can absorb during inhalation.

Formaldehyde vapor can lead to skin irritation, severe impact on the respiratory tract, suffocation, and dizziness. Skin or eyes can be severely burnt in case of direct contact with the chemical.

Engineered Wood Market: Opportunities

Growing number of remodeling activities to provide excellent growth moments

With the increasing movement of people along with the growing population, the world is witnessing a surge in remodeling, renovation, and rehabilitation activities to meet the growing housing demand across the globe. To fulfill the needs of the population, the global engineered wood market players will have to invest in the use of manufacturing objects that are not only physically competent but also offer cost-efficiency.

Engineered woods are the best fit for this type of requirement which could drive the demand for these materials during the projection period. In the first quarter of 2021, the US spent over USD 352.9 billion on remodeling activities. The majority of the expenditure was on home renovation.

Engineered Wood Market: Challenges

Lack of exact properties of hardwood to challenge the market rise

Although in most cases, engineered wood meets the benchmark set by hardwoods, they lack the exact physical, mechanical, and chemical properties that are found in naturally occurring wood.

For instance, plywood is known to bend or may even sag when exposed to a high weight which is not the case in a hardwood that exhibits high load-carrying capacity. For this reason, the global market may lose some potential consumers.

Engineered Wood Market: Segmentation

The global engineered wood market is segmented based on application, type, end-user, and region

Based on application, the global market segments are furniture, construction, flooring, and others. In 2021, the furniture segment dominated the global market and it is anticipated to grow at a CAGR of 6.59% during the forecast period. The sector grew due to the high demand for attractive and efficient furniture in modern homes. As per Valuepenguin, a US household spends an average of USD 190 on home furniture every month. In 2021, the average expense per consumer reached around USD 716 on furniture alone. Some of the items included in the furniture segment are sofa sets, tables, cabinets, chairs, and closets.

Based on type, the global market is divided into plywood, I-beam, and laminated veneer lumber (LVL). The plywood segment is anticipated to grow at a high CAGR. In 2021, the plywood market in North America was valued at USD 15 million cubic meters. Plywood is popular due to the versatility of the product along with uniform strength and cost efficiency.

Recent Developments:

  • In April 2022, the United Kingdom and Singapore entered a joint venture to launch engineered timber also called Laminated Veneer Lumber (LVL) in the Indian market along with some other South Asian countries, to target housing projects. The joint venture is anticipated to lead the ambitious project of substituting the use of traditional building materials with LVL
  • In September 2022, The National Wood Flooring Association (NWFA) launched a new program called the NWFA Engineered Wood Flooring Refinishable Program that aims to identify wood-based products that have wear layers that can be further refinished or sanded

Engineered Wood Market: Report Scope    

Report Attributes Report Details
Report Name Engineered Wood Market
Market Size in 2024 USD 281.7 Million
Market Forecast in 2034 USD 483.63 Million
Growth Rate CAGR of 5.7%
Number of Pages 180
Key Companies Covered Boise Cascade Company, Celulosa Arauco y Constitución, Universal Forests Products Inc., Lowe's Companies Inc., CST Timber Co, Georgia Pacific Wood Products, LLC, Rockshield Engineered Wood Products ULC, Roseburg Forest Products, and Huber Engineered Wood , and others.
Segments Covered By Application, By Type, By End-User, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, The Middle East and Africa (MEA)
Base Year 2024
Historical Year 2020 to 2023
Forecast Year 2025 - 2034
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Engineered Wood Market: Regional Analysis

Asia-Pacific to register highest CAGR in the coming years

The global engineered wood market is anticipated to be dominated by Asia-Pacific growing at a CAGR of 6.49% by 2028. The regional growth can be attributed to the presence of half of the world’s population in China and India resulting in more demand for housing societies and living centers. Rapid modernization along with growing interest in engineered woods in Japan, Singapore, and other regions may further the regional market. China is currently the world’s top supplier of plywood.

In a recent survey, China contributed over 58% of the world’s plywood supply. 39.9% of the country's wood production is dependent on plywood manufacturing. The need for cost-effective furniture and construction materials is a major reason for the regional governments investing heavily in advertising and pushing the adoption of engineered wood over conventional wood.

Engineered Wood Market: Competitive Analysis

The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the engineered wood market on a global and regional basis.

The global engineered wood market is home to players like;

  • Boise Cascade Company
  • Celulosa Arauco y Constitución
  • Universal Forests Products, Inc.
  • Lowe's Companies, Inc.
  • CST Timber Co
  • Georgia Pacific Wood Products, LLC
  • Rockshield Engineered Wood products ULC
  • Roseburg Forest Products
  • Huber Engineered Wood LLC

The global engineered wood market is segmented as follows:

By Application

  • Furniture
  • Construction
  • Flooring
  • Others

By Type

  • Plywood
  • I-Beam
  • Laminated Veneer Lumber (LVL))

By End-User

  • Industrial
  • Residential
  • Commercial

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

The global engineered wood market is expected to grow due to increasing demand for sustainable building materials, rising construction activities, and cost-effectiveness compared to traditional wood.

According to a study, the global engineered wood market size was worth around USD 281.7 Million in 2024 and is expected to reach USD 483.63 Million by 2034.

The global engineered wood market is expected to grow at a CAGR of 5.7% during the forecast period.

Asia-Pacific is expected to dominate the engineered wood market over the forecast period.

Leading players in the global engineered wood market include Boise Cascade Company, Celulosa Arauco y Constitución, Universal Forests Products Inc., Lowe's Companies Inc., CST Timber Co, Georgia Pacific Wood Products, LLC, Rockshield Engineered Wood Products ULC, Roseburg Forest Products, and Huber Engineered Wood , among others.

The report explores crucial aspects of the engineered wood market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.

Choose License Type

  • zion payment modes

HappyClients

Office Address

Contact Us

Zion Market Research
Tel: +1 (302) 444-0166
USA/Canada Toll Free No.+1 (855) 465-4651

Asia Pacific Office

3rd Floor, Mrunal Paradise, Opp Maharaja Hotel, Pimple Gurav, Pune 411061, Maharashtra, India
Phone No +91 7768 006 007, +91 7768 006 008

Contact #

US OFFICE NO +1 (302) 444-0166
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com

We Are On Social

twitter

Industry Press Release

We Accept

We have secured system to process your transaction.

  • payment methods

Business Hours

Our support available to help you 24 hours a day, five days a week.

Monday - Friday: 9AM - 6PM

Saturday - Sunday: Closed