Global Reclaimed Lumber Market Competitive Landscape, Top Market Segments, And Top Opportunities
25 May, 2023
The global reclaimed lumber market size is expected to grow from $49.63 billion in 2022 to $52.67 billion in 2023, at a compound annual growth rate (CAGR) of 6.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The reclaimed lumber market size is expected to reach $64.44 billion in 2027 at a CAGR of 5.2%.
Global Reclaimed Lumber Market Key Driver
The rising construction sector is likely to drive future growth in the reclaimed timber market. Construction activity has increased as a result of rising industrialization and urbanization. These construction operations are producing a huge demand for salvaged timber for residential and commercial building development. Reclaimed timber is sturdy, stable, and long-lasting, and it is employed in a variety of construction projects. For instance, in June 2021, according to a report published by Canada's national statistical agency, the investment in building construction increased from $14294 million in April 2019 to $19273 million in 2020. Furthermore, in the 2022 U.S. Construction Cost Trends report, there is a rise in residential construction, which will continue to drive up demand for materials and labor, escalating competition, and cost pressures. In the U.S., total construction spending has increased by 16% since the pandemic's onset. Therefore, the expanding construction sector is driving the growth of the reclaimed lumber market.
Get a sample of the global reclaimed lumber market reportGlobal Reclaimed Lumber Market Segments
The global reclaimed lumber market is segmented:
1) By Source: Post-industrial Reclaimed, Post-Consumer Reclaimed, Water Reclaimed, Orchard Salvage Reclaimed, Forest Floor Salvage Reclaimed
2) By Application: Flooring, Paneling and Siding, Beams, Furniture, Other Applications
3) By End-Use: Commercial Construction, Residential Construction, Industrial
4) By Geography: The regions covered in the reclaimed lumber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global reclaimed lumber market.
Major Reclaimed Lumber Industry Players
MONTANA RECLAIMED LUMBER Co., AltruWood, Vintage Timberworks Inc., Recycling The Past LLC, Beam and Board LLC, Longleaf Lumber Inc., Sustainable Lumber Company, Imondi Flooring, TerraMai, Elemental Republic, Olde Wood Ltd., Trestlewood, True American Grain Reclaimed Wood, Altholz - Baumgartner & Co GmbH, Viridian Reclaimed Wood, Altholz - Baumgartner & Co GmbH, Viridian Reclaimed Wood, T. Moore Manufactruing Inc., and Resawn Timber co.
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Reclaimed Lumber Market Overview
Reclaimed timber is processed wood recovered from ancient homes and buildings that is robust, solid and lasting. This wood is recyclable and environmentally benign, and it is utilized in a range of industries, mostly for the production of wooden goods.
Reclaimed Lumber Global Market Report 2023 provides data on the global reclaimed lumber market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The reclaimed lumber market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.