The Business Research Company Global Manufactured Wood Materials Market Report 2021: Impact and Recovery of COVID-19
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According to the new market research report ‘Global Manufactured Wood Materials Market Report 2021: COVID-19 Impact And Recovery âpublished by The Business Research Company, the manufactured wood materials market is expected to grow from $ 243.92 billion in 2020 to $ 260.34 billion in 2021 at a compound annual growth rate ( CAGR) of 6.7%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 344.68 billion in 2025 at a CAGR of 7%. The growing demand for online shopping is expected to drive the growth of the manufactured wood materials market. Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically, leading to the growth of the manufactured wood market.
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The manufactured wood materials market includes sales of wood materials produced by entities (organizations, independent traders, and partnerships) that produce veneer, plywood, engineered wood components, and reconstituted wood products. Some products produced by this industry include hardwood and softwood veneers, fabricated and laminated wood arches, wood roofs, floor trusses, sheets and planks of wood.
Global Manufactured Wood Materials Market Trends
Manufactured wood materials companies are increasingly integrating automation and robotics into their operations to improve productivity and reduce costs. Robotics is generally adopted in the functional fields where the working conditions of human labor are not safe and it can be implemented to complement human labor to increase operational efficiency. Automation is used to reduce the time required to manufacture reconstituted wood products and thus improve the efficiency of the process. According to a survey by the Manufacturers Alliance and the MN Precision Manufacturing Association, 38% of those surveyed were currently using automation or robotics, and 32% of those surveyed were in the process of implementing automation or robotics. Major companies providing automation equipment include Timber Automation and CG Power and Industrial Solutions.
Global Manufactured Wood Materials Market Segments:
The global manufactured wood materials market is further segmented:
By type: reconstituted wood, plywood, veneer sheets
By application: Residential, Commercial
By Type of Wood Plant: Teak, Oak, Others
By Geography: The global wood materials market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East, and Africa. Among these regions, the Asia-Pacific manufactured wood materials market accounts for the largest share of the global manufactured wood materials market.
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The 2021 Global Manufactured Wood Materials Market report is one of a series of new reports from The Business Research Company that provides global Manufactured Wood Materials market overviews, size and growth analysis and forecast Global Manufactured Wood Materials Market, Global Manufactured Wood Materials Market market share, Manufactured Wood Materials market players, Manufactured Wood Materials market segments and geographies, revenue, profiles and market share market of the main competitors of the manufactured wood materials market. The Manufactured Wood Materials Market report identifies key countries and segments for opportunities and strategies based on market trends and approaches of key competitors.
Read The Business Research Company’s Global Manufactured Wood Materials Market 2021 report for insights into the following:
Data segments: market size, global, by region and by country; Historical and forecast size, and growth rate for the world, 7 regions and 12 countries
Manufactured Wood Materials Market Organizations Covered: Georgia-Pacific Corporation, Weyerhaeuser Company, Celulosa Arauco y ConstituciÃ³n, Norbord Inc, RLC Industries Co.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, United States, South America, Middle East and Africa.
Country: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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