Trusted Business Insights presents the Latest Study on Reclaimed Lumber Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Global Reclaimed Lumber Market
The global reclaimed lumber market size was valued at USD 11.22 billion in 2017 and is expected to register a CAGR of 4.6% over the forecast period. Increasing product penetration in the U.S. construction industry owing to easy availability and properties including high durability and strength is expected to propel the market growth. Majority of the demolition contractors recover salvaged wood from the old constructions, owing to the increasing product demand. Moreover, growing awareness regarding the environment coupled with degrading quality of new lumber as compared to well-preserved old wooden structures is also likely to boost the product demand.
The U.S. government imposed a heavy tariff of 20% on the imports of softwood lumber, including reclaimed lumber from Canada, owing to the appeal from U.S. International Trade Commission to levy countervailing and anti-dumping duties on imports. This move led to softwood lumber trade dispute between both the countries and is expected to limit the industry growth.
However, extensive use of salvaged wood in cross-laminated timber products is expected to drive the market. In addition, increasing use of wood in residential building construction to reduce the carbon footprint is expected to boost the product demand further. Additional processing coupled with high labor cost associated with deconstruction activities leads to a rise in the product price of reclaimed wood. Thus, high product costs may hinder market growth.
Limited availability of the salvaged wood due to low penetration is also expected to hinder growth. Suppliers in the industry focus on high price differentiation due to the presence of a limited number of companies. In addition, the industry is also heavily dependent on the number of deconstruction activities in a particular country, leading to a high degree of uncertainty in the growth prospects.
Market Segmentation, Outlook & Viewpoint: Global Reclaimed Lumber Market
Application Market Segmentation & Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)
Paneling & Siding
Beams & Boards
End Use Market Segmentation & Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)
Key Players, Recent Developments & Regional Insights: Global Reclaimed Lumber Market
Furniture emerged as the second-largest application segment in 2017. High product demand for the production of customized furniture, including tabletops, chairs, shelves, and cabinets, is expected to impel the growth of the this segment over the next few years. Paneling products are manufactured using the average-grade lumber recovered from old structures. However, they require additional weatherproofing with a sealant or paint for exterior use, to avoid the warping of panels from humidity. Re-milled beams and timbers are typically used in structural applications.
The demand for reclaimed lumber for the construction of beams exhibits a significant demand for residential structures and are often used in stick frame construction and joinery style of construction. The industry offers a variety of customized products, thereby driving demand from the residential sector. Other applications include small item manufacturing and architectural millwork. Small item manufacturing encompasses a variety of products, ranging from gift boxes to slingshot handles. The cost of these products are ususally expensive due to high labor and production costs. Hence, aggressive grading of the reclaimed lumber for this application is imperative.
End Use Insights
Residential sector emerged as a major consumer for the reclaimed lumber in 2017 and is expected register a CAGR of 4.3% over the forecast period. It is used for a number of applications including framing, casework, paneling, flooring, cabinets, and interior design components. The commercial sector is driven by high demand from the HORECA sector. The product has several applications in flooring, wall coverings, tabletops, seats, bar tops, and light fixtures. The design aesthetic helps disguise the wear and tear in high traffic areas, which will drive the demand over the forecast period.
Industrial applications accounted for a minor share of 10.0% of the market revenue in 2017 and is expected to witness a moderate growth over the forecast period. These applications include custom-made doors and windows, structurally efficient components, such as roof trusses, flat trusses, I-beams, box beams, and I-posts. Majority of the wood to be used across various applications requires an additional coating of varnishes to increase the aesthetic appeal, the use of which is also regulated across Europe and North America.
North America witnesses a steady growth. However, the region is expected to face challenges due to the lack of market development for recycled materials and cost-effective grading system for salvaged wood. U.S. leads the market in North America market, owing to the surge in demand from the commercial sector including retail, hospitality, and offices for custom fixture and interior decoration applications. Moreover, easy availability of reclaimed wood will drive the market further.
The product demand is expected gain a considerable momentum in China, owing to the incorporation of highly efficient building methods, better energy-efficiency, and seismic performance. Increasing effect of the green building regulations in China are further expected to encourage the product use in residential and commercial constructions. Germany was the largest consumer in Europe in 2017 and will maintain its dominance over the forecast period. Product demand for cross-laminated timber owing to superior characteristics like low moisture content and high density and strength is anticipated to impel market growth.
Reclaimed Lumber Market Share Insights
Companies in the market try to gain higher market shares through lower turnaround time, wide selection of materials, and price differentiation. Product availability is one of the key factors influencing the product sales; hence, companies prefer to procure raw material from multiple sources, instead of relying on a single source. Majority of the companies in the market have limited geographical scope, which allows them to maintain long-term relationships with consumers to widen their customer base. In addition, increasing penetration of the product in the construction industry is expected to lead the production levels, thereby boosting market growth.
Key Insights Covered: Global Reclaimed Lumber Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Reclaimed Lumber industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Reclaimed Lumber industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Reclaimed Lumber industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Reclaimed Lumber industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Reclaimed Lumber industry.
Research Methodology: Global Reclaimed Lumber Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
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This post was originally published on Space Market Research