The global I-joist market exhibited moderate growth during 2015-2020. I-joist is an engineered wood product made from a combination of timber products such as laminated veneer timber or graded solid timber. Also known as a wooden I-beam, composite wooden joist, and plywood I-beam, I-joist has two parts, namely the web and flanges. The web is placed between the top and bottom flanges that gives it the distinct ‘I’ shape. The flanges resist bending, and the web helps to transmit the shear stresses, relying on plywood's panel shear capacity and dimensional stability. Moreover, the web and flanges also produce a lightweight beam, which is both sturdy and durable.
The significant growth of the construction and real estate sectors represent the primary factor escalating the demand for I-joist. It is used in wall studs and roof rafters, as well as for installing flooring and roof framing, due to its lightweight yet resilient properties. It also offers improved strength and stiffness with an enhanced aesthetic appearance and flexibility. This is based on its high strength-to-weight ratio, which helps carry heavy loads over long spans and structures. It also shrinks or swells less than solid wood when the ambient conditions such as the temperature, humidity and air pressure change. Apart from this, it provides more options for designing economical floor joist layouts while being easy to install. It also consists of a thin layer of wood that is easier to drill for plumbing, HVAC and electrical purposes. Along with this, it is cheaper, stronger and easily available in the market compared to plywood. As a result, manufacturers nowadays prefer I-joists prepared from oriented strand board web materials. Moreover, the development of smart cities and the growing need for renovating residential spaces on the global level is also contributing to the market growth. Looking forward, IMARC Group expects the global I-joist market to reach a value of US$ 2.89 Billion by 2026, exhibiting a CAGR of 6.60% during 2021-2026.
Breakup by Sector:
On the basis of the sector, the residential sector dominates the market, accounting for the majority of the total market share.
Breakup by New Construction and Replacement:
Breakup by Application:
Region-wise, North America holds the leading position in the market.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players.
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