The latest report by IMARC Group titled, “I-Joist Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global I-joist market reached a value of US$ 2 Billion in 2016, growing at a CAGR of nearly 15% during 2009-2016.I-joist is an engineered wood product, made from a combination of various timbers, such as laminated veneer timber or graded solid timber. I-joist has two parts – web and flanges. The web is placed between a top and bottom flange which gives it a distinctive ‘I’ shape.Both, the web and flanges produce a lightweight beam that is sturdy and durable.The function of the flanges is to resist bending, whereas the web aids in transmitting shear stresses, relying on plywood's panel shear capacity and dimensional stability.It is also popularly known as wooden I-beam, composite wooden joist, and plywood I-beam.
Highlights of the global I-joist market:
- The structural properties of I-joist are the key demand driver for the growth of the market.
- North America is the largest market, accounting for the majority of the share.
- The market is expected to reach a value of nearly US$ 4 Billion by 2022.
The market for I-joist is accelerated primarily by its structural properties. As a result of this, I-joist is extensively being used for a number of applications. Due to its ‘I’ shape, I-joist offers superior strength and flexibility in the installation of roof framing and residential flooring. Moreover, it provides high strength-to-weight ratio which facilitates carrying heavy loads over long spans and long structures. I-joist also resists shrinking or swelling more efficiently under changing ambient conditions, such as temperature, humidity and air pressure. Apart from this, it offers more options for designing economical floor joist layouts while being easy to install.Owing to these factors, the market for I-joist is further expected to reach a value of nearly US$ 4 Billion by 2022.
The market is segmented on the basis on the residential and commercialapplications. The residential applications are the largest consumer of I-joist, accounting for the majority of the share. The market is also segmented on the basis of key regions. Some of the major markets for I-joist are Asia Pacific, North America, Europe, Latin America, and Middle East and Africa. Amongst these, North America represents the largest market for I-joist.
The report has examined the global I-joist market on the basis of:
- Asia Pacific
- North America
- Latin America
- Middle East and Africa
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.
Follow us on twitter : @imarcglobal