The Global Reclaimed Lumber Market is forecast to reach USD 17.79 Billion by 2027, according to a new report by Reports and Data. Growing demand for recycled wood furniture due to low costs and environmental benefits will drive the global market over the forecast period. Various government mandates and the increased cost of landfills to reduce waste have encouraged the recovery of wood waste. The industry has experienced a notable shift from recovering wood recovered with little or no defects to recovering higher-value applications, including doors, wall panels, and fencing, to increase the percentage of salvage value.
Reclaimed lumber is of higher quality than sustainably harvested and virgin wood, but is available at a higher price than its counterparts. Besides, the industry is experiencing a significant gap between supply and demand, which results in high consumption of substitutes, thus limiting the growth of the industry. There are a large number of regional companies operating in the world market. Entry into the market is not capital intensive, which should intensify competition from emerging companies. Besides, the increase in profit margins associated with the growing demand for the product should also attract new companies to the industry.
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Market Overview:
As a result of steady revenue growth over the past few years, the manufacturing and construction industry is expected to achieve a robust annual revenue growth rate between 2021 and 2028. In addition to the rapidly growing construction industry, rapid urbanization and industrialization, and technological advancements in manufacturing techniques, this can also be attributed to these factors. Green construction and energy efficient buildings have become increasingly popular in recent years as awareness of environmental impact and carbon emissions has increased. Over the forecast period, key factors are expected to boost global market growth, including the rapid growth of global populations, changing lifestyle preferences, the increasing demand for smart buildings, an increase in renovation and reconstruction activities, and an increase in eco-friendly construction activities. Other factors that will contribute to market growth in the future include an increase in disposable income, government schemes, and investments by private organizations.
Some of the Leading Market Players Are Listed Below:
- Carpentier Hardwood Solutions NV,
- Recycling the Past, LLC,
- Vintage Timberworks, Inc.,
- Longleaf Lumber, Inc.,
- Atlantic Reclaimed Lumber, LLC,
- Imondi Flooring,
- Jarmak Corporation,
- Elmwood Reclaimed Timber,
- G R Plume Company,
- Olde Wood Ltd.
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Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as license agreements, partnerships, merger and acquisitions, collaborations, RD investments, and joint ventures to gain robust footing in the market.
Market Segmentation:
Application Outlook (Revenue, USD Billion; 2017-2027)
- Beams Boards
- Flooring
- Paneling and Siding
- Furniture
- Others
Source Outlook (Revenue, USD Billion; 2017-2027)
- Post-industrial Reclaimed
- Post-Consumer Reclaimed
- Water Reclaimed
- Orchard Salvage Reclaimed
- Forest Floor Salvage Reclaimed
End Use Outlook (Revenue, USD Billion; 2017-2027)
- Commercial
- Residential
- Industrial
The Global Reclaimed Lumber Market Is Segmented Into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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