ID: MRFR/CnM/9061-HCR | April 2021 | Region: Global | 150 pages
According to the latest research report of MRFR analysis, the Reclaimed Lumber Market Size is expected to register a CAGR of about 5% during the forecast period of 2020-2027. Milled wood that has been retrieved from its successful setup in structures (including old barns, mills, and dormitories) for utilization in new applications is known as reclaimed lumber. Aging wood is also being reclaimed in greater quantities from smaller constructions such as wood packing, old dwellings, railcars, and pallets. Reclaimed lumber decreases disturbance to tropical forests by reducing the use of new timber, aids in the reduction of disposal trash, and has a higher energy density than new lumber production.
The rising demand for reclaimed lumber and goods made from reclaimed lumber in the building and construction sector is a major driver driving the Reclaimed Lumber Market rise. The expansion of the construction sector in Asia-Pacific and the Middle East and Africa as a result of increased business and residential construction activity has spurred demand for construction materials, particularly sustainable resources, and therefore for reclaimed lumber. Growing urbanization, rising per capita discretionary income, and urbanization are driving the development of the construction sector in developing economies. Furthermore, private expenditures in commercial building activities for attractive and premium features are boosting demand for recycled lumber-based goods. Furthermore, the growing trend toward sustainable and green buildings is likely to boost Reclaimed Lumber Market growth throughout the forecast period.
This report contains all the information on the Reclaimed Lumber Market report, research, and market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the Reclaimed Lumber Market analysis and forecast for 2027 is also included in the report.
Covid 19 Analysis
The global COVID-19 problem has harmed the construction sector, since numerous existing construction projects have been postponed or terminated, resulting in millions and billions of dollars in damages. The International Monetary Fund (IMF) predicts that global real GDP would fall by roughly 3%, expanding 5.9 percentage points less than the 2.9 percent increase seen in 2019. According to which, the construction sector in the United States, like many other businesses, would face huge losses, and project in southern Europe is expected to fall by 60-70 percent. As a result, the building sector has collapsed, and hence the Reclaimed Lumber Market has been constrained.
The expanding construction sector is the primary driver of the worldwide Reclaimed Lumber Market. With the deconstruction of ancient buildings and dwellings for rehabilitation and rebuilding reasons, there has been an increase in the sector's need for recovered timber goods. This is aided further by their considerably improved longevity as compared to fresh timber products, as well as increased public awareness of the need for recycling, reusing, and reducing building resources. Along with this, there has been an increase in global demand for green building, which has fueled the use of numerous eco-friendly materials such as reclaimed lumber.
Sustainable environmental construction industries, as well as increased demolition of existing structures for reconstruction and refurbishment, are likely to generate profitable prospects for the target reclaimed lumber market throughout the forecast period.
Excessive product and labor costs are likely to stifle worldwide reclaimed lumber market expansion throughout the projected period. Furthermore, the target market's growth is likely to be hampered by a scarcity of available salvaged wood as a result of penetration throughout the forecast period.
The process reclaimed lumber goes through, is way more expensive than virgin wood. A dealer selects and prepares reclaimed timber so that it is safe for customer use, whereas utilizing virgin timber requires a lot of nail removing and extra labor. Companies, on the other hand, may treat the timber with chemicals and paint, which may contain chemical compounds, adhesives, preservatives, pesticides, or lead. This raises the price of recovered timber end products and may provide a challenge to Reclaimed Lumber Market expansion.
Cumulative Growth Analysis
Governments throughout the world are working on improving infrastructure in order to help their countries flourish. For example, the construction development and infrastructure activities sectors in India attracted FDI inflows of US$ 25.69 billion and US$ 16.97 billion, respectively, between April 2000 and June 2020, according to the Department for Promotion of Industry and Internal Trade (DPIIT). These expenditures have aided the development of the construction sector in the past and will continue to do so shortly. As a result of the growing construction sector, the Reclaimed Lumber Industry is likely to expand.
Value Chain Analysis
According to the reports, the Reclaimed Lumber Market is segmented into application, end-user, and region. On the basis of application, the global market is further divided into furniture, flooring, paneling & sliding, beams, and others. In 2019, the furniture segment maintained the greatest market share of the worldwide Reclaimed Lumber Market, accounting for more than 35% of the total. Reclaimed lumber in furniture applications provides a rustic appeal that is becoming progressively fashionable, particularly in North America and Europe, where all interior decorating and design journals recommend it for home interior attractiveness. The flooring segment represented the second-largest market share, around 25%, in 2019. Reclaimed timber flooring gives a long-lasting, traditional, and time-honored aesthetic that contributes flair and refinement to the decor of homes.
On the basis of end-user, the Reclaimed Lumber Market is segmented into commercial construction, residential construction, and industrial. With a market share of roughly 50% in 2019, the commercial building industry is the most important end-use category of recovered timber. The impetus given by the expansion of the corporate world in developed nations is likely to increase the commercial construction segment's growth in the coming years. Used extensively in residential construction segment including as furniture, flooring, sidings, and fences.
The Reclaimed Lumber Market is segmented on the basis of application, end-user, and region. The Reclaimed Lumber Market is expected to witness decent growth during the forecast period.
Based on the application, the Reclaimed Lumber Market is segmented into furniture, flooring, paneling & sliding, beams, and others.
Based on the End-Users, the Reclaimed Lumber Market is segmented into commercial construction, residential construction, and industrial.
According to the reports, the Reclaimed Lumber Market is segmented into North America, Europe, Asia-pacific, Latin America, and Middle East & Africa. Due to a revival in residential buildings and increasing private investment in the construction sector, Europe led the market and contributed to more than 40% of worldwide sales in 2020. The regional market will increase at a modest CAGR from 2020 to 2027, due to the region's constantly developing residential sector and increased production volume from established economies such as Germany, France, and the UK. The Asia-Pacific Reclaimed Lumber Market had the second-largest share of more than 30% in 2019 and is expected to be the quickest regional market during the forecast period. This is mostly due to the product's strong demand in the rising business and residential building sectors, as well as increased commercial development projects in China, India, and Southeast Asian countries.
Global Reclaimed Lumber Market participants compete largely based on the quality of product, customer support, and product pricing. The players concentrate on offering high-quality materials while maintaining a concentrated pricing strategy. Many businesses attempt to obtain a competitive edge by offering reasonable costs, a diverse range of products, and quick turnaround times. The industry is dynamic, and competitors across the value chain are more integrated. However, due to rising transportation costs, businesses at all stages of the value chain are finding it difficult to expand their geographical reach.
The following report comprises of –
Breakup by Application:
Breakup by End-Use:
Rest of the World
|Market Size||2027: Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Application, End-Users and Region|
|Geographies Covered||North America, South America, Europe, Asia-Pacific, Middle-East, and Africa.|
|Key Vendors||Longleaf Lumber, Inc (US), Altholz - Baumgartner & Co GmbH (Germany), A/S Global Timber (Denmark), Viridian Reclaimed Wood (US), MONTANA RECLAIMED LUMBER Co. (US), IMONDI FLOORING (China), Fine Lumber Co (US), T. MOORE MANUFACTURING, INC (US), TerraMai (US), reSAWN TIMBER co. (US). Vintage Timberworks Inc (US), Sustainable Lumber Company (US)|
|Key Market Opportunities||Sustainable environmental construction industries, as well as increased demolition of existing structures for reconstruction|
|Key Market Drivers||The expanding construction sector is the primary driver of the worldwide Reclaimed Lumber Market|
Frequently Asked Questions (FAQ) :
Reclaimed Lumber Market is predicted to grow at 5% through forecast period of 2020-2027.
The forecast period for Reclaimed Lumber Market research report is 2020-2027.
Reclaimed Lumber Market is dominated by North America region.
The major players are Longleaf Lumber, Inc (US), Altholz - Baumgartner & Co GmbH (Germany), A/S Global Timber (Denmark), Viridian Reclaimed Wood (US), MONTANA RECLAIMED LUMBER Co. (US), IMONDI FLOORING (China), Fine Lumber Co (US), T. MOORE MANUFACTURING, INC (US), TerraMai (US), reSAWN TIMBER co. (US). Vintage Timberworks Inc (US), Sustainable Lumber Company (US)