The Global Engineered Wood Market to grow from USD 360.41 billion in 2023 to USD 542.68 billion by 2030, at a CAGR of 6.02%.

Engineered wood, known as manufactured or composite wood, is derived from a combination of wood products and other materials. It's important to differentiate engineered wood from solid wood, as the former stands out in versatility of application, ease of installation, and resistance to humidity and temperature changes. Increasing consumer need for high-quality, reliable, and environment-friendly construction materials is driving the growth of the engineered wood market. With engineered wood, builders can use less expensive wood types without compromising on strength, durability, or visual appeal.

 As a result, it is a cost-effective alternative to traditional hardwood. The growing need to reduce the carbon footprint in construction is propelling the demand for engineered wood. Its manufacturing process is less intensive than producing traditional hardwood, contributing to fewer greenhouse gas emissions. The volatile price of adhesives used in manufacturing and durability issues hinder market growth. The growing introduction of advanced engineered wood by market vendors is expected to create opportunities for market growth.

The engineered wood market in the Americas is expanding at an exponential rate with a significant drive towards sustainable construction and an emphasis on lightweight and durable materials across both the United States and Canada.

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