Laminated Veneer Lumber Market Size 2021-2026: Global Industry Overview, Price Trends, Share, Growth, Opportunity and Forecast – mainlander.nz

2021-12-29 14:42:34 By : Ms. Aling Zhang

The global laminated veneer lumber market has experienced a robust growth over the years. The increasing demand for LVL can be attributed to the revival in the construction activities and increasing renovation projects across the globe.

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Laminated veneer lumber (LVL) is made by bonding rotary peeled and sliced thin wood veneers with weatherproof glue under high heat and pressure. This engineered wood product provides high durability, uniformity and strength due to the low variability of the panels. Additionally, it is light in weight and has the ability to span long distances. A new research report by IMARC Group, titled “Laminated Veneer Lumber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, estimates that the global laminated veneer lumber market reached a value of US$ 2.9 Billion in 2020, Looking forward, IMARC Group expects the market to reach US$ 5.3 Billion by 2026, exhibiting a CAGR of 10.6% during 2021-2026.

Global Laminated Veneer Lumber Market Drivers/Constraints:

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The report has categorised the applications of LVL into residential and commercial, and new construction and replacement segments.

Based on application, the residential sector accounts for the majority of the total market share, followed by the commercial sector. LVL beams are used as bearing structures in the construction of walls, roofs and floors. A surge in the urbanisation rate in the emerging regions has boosted the demand for LVL in the residential sector.

At present, new construction dominates the LVL market, representing the leading segment. This can be accredited to its utilisation in structural applications due to its high dimensional stability, impact bending and superior strength.

Region-wise, North America enjoys the leading position in the global laminated veneer lumber market. Increasing demand for residential housing is one of the major factors for the growth of the market in the region. Apart from this, renovation projects of building and furniture in North America is another factor bolstering the market growth.

The market is highly fragmented with the presence of numerous small, medium and large players who compete in terms of price and quality. However, the presence of high economy of scale negates the threat from new entrants. Some of the leading players operating in the market are:

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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