Global Manufactured Wood Materials Market Thrives, Poised to Reach $371.84 Billion by 2027
Manufactured Wood Materials Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
The Business Research Company’s Manufactured Wood Materials Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
LONDON, GREATER LONDON, UK, December 6, 2023 /EINPresswire.com/ -- The global manufactured wood materials market is experiencing robust growth, expanding from $262.86 billion in 2022 to $283.45 billion in 2023, registering an impressive compound annual growth rate (CAGR) of 7.8%. Forecasts indicate sustained growth, propelling the market to an estimated $371.84 billion by 2027, maintaining a solid CAGR of 7.0%.
Online Shopping Boosts Demand
The market is propelled by the increasing demand for online shopping, providing manufacturers with a larger platform to showcase and sell their products. This expanded reach enhances the geographic customer base, contributing to the overall growth of the manufactured wood materials market. E-commerce platforms, particularly in countries like India, have played a significant role in boosting the sales of wood manufacturers by providing broader exposure to producers who were previously confined to specific regions.
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Key Players Shaping the Market
Major companies contributing to the dynamism of 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. These companies play a crucial role in driving innovation and setting industry standards.
Integration of Automation and Robotics
Manufactured wood material companies are increasingly adopting automation and robotics to enhance productivity and reduce costs. Robotics are being integrated into areas where working conditions for human labor may not be safe, complementing human labor to increase operational efficiency. Automation is also streamlining the manufacturing process for reconstituted wood products, reducing production time and improving overall process efficiency. According to a survey by the Manufacturers Alliance and the MN Precision Manufacturing Association, 38% of respondents are currently using automation or robotics, and 32% are in the process of implementing these technologies. Leading companies providing automation equipment in this sector include Timber Automation and CG Power and Industrial Solutions.
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Regional Dynamics
In 2022, Asia-Pacific emerged as the largest region in the manufactured wood materials market, with North America securing the second-largest share. The comprehensive market analysis report encompasses regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Segmentation Overview
The global manufactured wood materials market is segmented based on:
• Type: Reconstituted Wood, Plywood, Veneer Sheets
• Application: Residential, Commercial
• Type of Wood Plant: Teak, Oak, Other Types of Wood Plants
Manufactured Wood Materials Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Manufactured Wood Materials Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on manufactured wood materials market size, manufactured wood materials market drivers and trends, manufactured wood materials market major players, manufactured wood materials market competitors' revenues, manufactured wood materials market positioning, and market growth across geographies. The manufactured wood materials market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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