The Business Research Company’s Manufactured Wood Materials Global Market Report 2021: COVID-19 Impact And Recovery
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According to the new market research report ‘Manufactured Wood Materials Global Market Report 2021: COVID-19 Impact And Recovery’ published 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 the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $344.68 billion in 2025 at a CAGR of 7%. Increasing demand for online shopping is expected to help the manufactured wood materials market grow. Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically driving the growth of the manufactured wood market.
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The manufactured wood materials market consists of sales of produced wood materials by entities (organizations, sole traders and partnerships) that produce veneer, plywood, engineered wood members and reconstituted wood products. Some products produced by this industry include hardwood and softwood veneer, fabricated and laminated wood arches, wood roof, floor trusses, wood sheets and boards.
Trends In The Global Manufactured Wood Materials Market
Manufactured wood material companies are increasingly integrating automation and robotics in their operations to enhance productivity and reduce costs. Robotics are generally being adopted in those functional areas where working conditions for human labour are not safe and it can be implemented to complement human labour to increase operational efficiency. Automation is being utilized to reduce the time taken for manufacturing reconstituted wood products and thereby improving process efficiency. According to a survey by the Manufacturers Alliance and the MN Precision Manufacturing Association, 38% of the respondents were currently using automation or robotics, and 32% of the respondents were in 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 in the global manufactured wood materials market.
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Manufactured Wood Materials Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides manufactured wood materials global market overviews, analyzes and forecasts market size and growth for the global manufactured wood materials global market, manufactured wood materials global market share, manufactured wood materials market players, manufactured wood materials market segments and geographies, manufactured wood materials market’s leading competitors’ revenues, profiles and market shares. The manufactured wood materials market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Manufactured Wood Materials Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Manufactured Wood Materials Market Organizations Covered: Georgia-Pacific Corporation, Weyerhaeuser Company, Celulosa Arauco y Constitución, Norbord Inc, RLC Industries Co.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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Here is a list of reports from The Business Research Company similar to the Manufactured Wood Materials Global Market Report 2021:
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Source: EIN Presswire