According to the latest report by IMARC Group, titled "Reclaimed Lumber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global reclaimed lumber market grew at a CAGR of around 4% during 2015-2020. Reclaimed lumber refers to milled wood sourced from old barns, factories, warehouses, wine casts, coal mines, and dying trees. The wooden elements recovered from these sources are carefully preserved while maintaining the integrity of beams and boards. Reclaimed lumber is primarily used in the production of hardwood flooring, wall paneling, countertops, shelves, cabinets, tables, and decks. The use of reclaimed wood helps minimize the need for new lumber, thereby reducing landfill waste and carbon footprints.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Reclaimed Lumber Market Trends:
The market is primarily being driven by the growing adoption of recycled materials on account of rising environmental concerns. In line with this, the emerging trend of sustainable construction with cross-laminated timber (CLT) has led to the widescale utilization of reclaimed lumber in the production of CLT products. This is further supported by initiatives undertaken by governments of several nations to promote recycled and reused construction materials to reduce construction waste. Moreover, reclaimed timber is increasingly being used for manufacturing artifacts and decorative items as it exhibits greater durability as compared to fresh lumber, which, in turn, is creating a positive outlook for the market. Looking forward, the market is expected to grow at a CAGR of 4.1% during 2021-2026.
- Based on the application, the market has been classified into flooring, paneling and siding, beams, furniture, and others.
- On the basis of the end user, the market has been divided into residential, commercial, and in-dustrial sectors.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Altruwood Inc., Atlantic Reclaimed Lumber LLC, Beam and Board LLC, Carpentier Hardwood Solutions, Elemental Republic, Elmwood Reclaimed Timber (Worldwide Steel), Imondi Flooring, Jarmak Corporation, Longleaf lumber Inc., Montana Reclaimed Lumber Co., Olde Wood Ltd., TerraMai, Trestlewood, True American Grain Reclaimed Wood and Vintage Timberworks Inc.
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