ID: MRFR/CnM/9061-HCR | April 2021 | Region: Global | 150 pages
According to MRFR analysis, the global reclaimed lumber market is projected to register a CAGR of around 5% during the forecast period, 2020–2027, with Europebeing the dominant regional market globally.
Reclaimed lumber is milled wood which is recovered from its initial installation in buildings (such as old barns, factories, and warehouses) for reuse in new applications. Old wood is also increasingly being recovered from smaller structures such as wood packaging, old houses, boxcars, and pallets. The use of reclaimed lumber reduces the disturbance to forest ecosystems by decreasing the consumption of new timber, helps to reduce landfill waste, and reclaimed lumber has a lower carbon footprint than new lumber production.
The prominent factor driving the growth of the global market is the increasing demand for the reclaimed lumber and the products manufactured using reclaimed lumber in the building & construction industry. The growth of the construction industry in the developing countries of Asia-Pacific and the Middle East & Africa due to the rise in residential and commercial construction activities has fueled the demand for building materials and especially sustainable materials, and hence, for reclaimed lumber. The growing urbanization with increasing per capita disposable income and changing lifestyles are important factors driving the growth of the construction industry in the developing markets. Additionally, investments in commercial construction activities by the private organizations for aesthetic and luxury appearances are fueling the demand for reclaimed lumber-based products. Moreover, the increasing trend toward green and sustainable buildings is further expected to favor the market growth during the forecast period.
The surge in the construction sector in the developing economies and the increasein non-residential construction spending in the developed economies is expected to boost the demand for reclaimed lumber in the years to follow. However, processing of reclaimed wood is a costly procedure as typically any fasteners or other metal is to beremoved manually and adds to the cost. If further milling of reclaimed wood is required, additional metal detection must be undertaken of each piece prior to processing to avoid damage to milling tools. This is considered to be a challenge for the market players.
Green Building Initiatives and Certification Systems, such as LEED and BREEAM, assess the sustainable performance of building materials and the performance of the whole building (e.g., energy efficiency). Such initiatives are of growing importance and will consequently influence the market demands for construction products.
Some of the International Standards concerning Green Building materials: