Engineered wood has grown in popularity and demand in recent years, becoming the “go-to” material for builders, architects, building designers and others who are well aware of all of the advantages of this composite wood. In fact, the global engineered wood market is anticipated to grow to more than $41 billion by 2022. Why is engineered wood in such high demand?
Not only is it cost-effective and environmentally friendly, engineered wood reduces waste, helps speed the construction process and is a high-performance substitute that provides superior dimensional stability and structural performance.
A composite wood made by combining veneers, wood strands and various forms of wood fiber and lumber, engineered wood products are thought by many to be stronger and more durable than wood, plastics, concrete and even steel. Types of engineered wood include laminated veneer lumber, cross-laminated timber, OSB (oriented strand boards), plywood, Glulam and more for application in both residential and commercial construction.
Many builders, architects and others in the residential and commercial construction industry are turning to engineered wood not only because of its strength and durability, but due to strict regulations regarding CO2 emissions and rapid deforestation.
Engineered wood continues to grow in popularity and the market is anticipated to move quickly in North America and Europe, countries where populations are more aware of the advantages of this composite wood and also have a higher level of disposable income.
Some of the key players in the engineered wood market include Lowes Companies, Inc., Weyerhaeuser Company, Georgia Pacific Wood Products, LLC, Louisiana Pacific Corporation, Boise Cascade Company and 84 Lumber Company, among others.
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