Major companies in the manufactured wood materials market include Weyerhaeuser Company, CELULOSA ARAUCO Y CONSTITUCIÓN S.A., Louisiana-Pacific Corporation, Norbord Inc., Patrick Industries Inc., Boise Cascade Company UFP Industries Inc., PotlatchDeltic Corporation, upm-kymmene oyj, and GreenPly Industries Ltd.
The global manufactured wood materials market is expected to grow from $238.64 billion in 2021 to $255.73 billion in 2022 at a compound annual growth rate (CAGR) of 7.2%. The market is expected to grow to $323.27 billion in 2026 at a compound annual growth rate (CAGR) of 6%.
The manufactured wood materials market consists of sales of produced wood materials by entities (organizations, sole traders and partnerships) that produce 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.
The main types of manufactured wood materials are reconstituted wood, plywood and veneer sheets.Reconstituted wood is made out of wood sheets that have been rotary sawn, glued together, and treated to resemble a variety of other woods.
Wallcoverings, workstations, cabinetry, parquet flooring, and bookcases are made from reconstituted wood. The different types of wood plant include teak, oak, others that are used for residential and commercial applications.
Asia Pacific was the largest region in the manufactured wood materials market in 2021.North America was the second largest region in the manufactured wood materials market.
The regions covered in the manufactured wood materials market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Increasing demand for online shopping is expected to help the manufactured wood materials market grow.Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically driving the growth of the manufactured wood market.
In countries such as India, for instance, e-commerce portals have boosted the sales of wood manufacturers by giving larger exposure to producers who were confined to one geography.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the manufactured wood materials market in 2021 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia.Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of ’lock down’ and the outbreak had a negative impact on businesses throughout 2020 and into 2021.
However, it is expected that the manufactured wood materials market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Manufactured wood material companies are increasingly integrating automation and robotics in their operations to enhance productivity and reduce costs.Robotics are generally being adopted in those functional areas where working conditions for human labour are not safe and it can be implemented to complement human labour to increase operational efficiency.
Automation is being utilized to reduce the time taken for manufacturing reconstituted wood products and thereby improving process efficiency.According to a survey by the Manufacturers Alliance and the MN Precision Manufacturing Association, 38% of the respondents were currently using automation or robotics, and 32% of the respondents were in process of implementing automation or robotics.
Major companies providing automation equipment include Timber Automation and CG Power and Industrial Solutions.
The countries covered in the manufactured wood materials market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.
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