Global Laminated Veneer Lumber Market to Reach USD 6.9 Billion by 2033, Impelled by Growing Construction Activities

December 06, 2024 | Chemical & Materials

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According to the latest report by IMARC Group, titled “Laminated Veneer Lumber Market Report by Residential and Commercial Application (Residential, Commercial), New Construction and Replacement Sector (New Construction, Replacement), and Region 2025-2033,” the global laminated veneer lumber market size reached USD 5.5 Billion in 2024. Laminated veneer lumber (LVL) refers to an engineered wood product made from peeled and sliced thin wood veneers that are bonded together with weatherproof glue under high heat and pressure. It is a lightweight material that offers high strength, durability, dimensional precision, uniformity and the ability to span long distances. LVL finds application in public buildings, large-prefabricated buildings, product components, industrial warehouses and customized wooden houses. It can also be used for structural framing in residential and commercial construction, like beams, lintels, purlins, joists, truss chords, concrete formwork, and scaffold boards.

Global Laminated Veneer Lumber Market Trends:

The primary factor driving the global laminated veneer lumber market is the revival of the construction industry. This has led to an increase in the construction of residential, commercial, and infrastructural projects, thereby escalating the demand for LVL worldwide. Besides this, LVL is easily available as a substitute for traditional building materials, like concrete and structural steel. It is also resistant to insects and water and requires less construction time. Due to this, it has gained momentum in the United States and several European countries. Some of the other factors bolstering the market growth are rapid urbanization, growing disposable incomes of consumers and the ongoing research exploring the feasibility of manufacturing LVL using different types of materials. Looking forward, the market value is expected to reach USD 6.9 Billion by 2033, registering a CAGR of 2.6% during the forecast period (2025-2033).

Market Summary:

Based on the end use, the market has been bifurcated into the commercial and residential segments. Amongst these, the residential sector represents the leading segment in the market.
On the basis of new construction and replacement, new construction holds the largest market share, as LVL is utilized in structural application due to its high dimensional stability, impact bending and superior strength.
On the geographical front, North America exhibits a clear dominance in the market. Other major regions are Asia Pacific, Europe, Latin America, and Middle East and Africa.
The competitive landscape of the market has also been analyzed in the report with some of the major players being Boise Cascade, Metsä Wood, Murphy Plywood, Nelson Pine Industries Limited, PWT, Roseburg Forest Products, STEICO SE, Ultralam, VMG Lignum, Wesbeam Pty Ltd, West Fraser Timber Co., Weyerhaeuser Company, etc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Million Cubic Meters, Billion USD
Segment Coverage	Residential and Commercial Application, New Construction and Replacement Sector, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	Boise Cascade, Metsä Wood, Murphy Plywood, Nelson Pine Industries Limited, PWT, Roseburg Forest Products, STEICO SE, Ultralam, VMG Lignum, Wesbeam Pty Ltd, West Fraser Timber Co., Weyerhaeuser Company, etc.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Laminated Veneer Lumber Market to Reach USD 6.9 Billion by 2033, Impelled by Growing Construction Activities

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