The North America secondary wood products market reached a value of US$ 286.1 Billion in 2018. Secondary wood products, also known as value-added wood products, refer to the products that are manufactured by processing primary wood products such as lumber, timber, pulp, etc. Secondary wood products majorly include wood furniture such as wooden kitchen, cabinets and countertops, engineered wood products, wooden pallets, and secondary paper products.
The secondary wood products market in North America is majorly being driven by the growth of the construction sector. The economic reforms and expansion of commercial real estate has positively impacted the growth of the industry in this region. The low production costs of secondary wood products have increased their demand in both the residential and commercial building sectors. Moreover, North America has the availability of forest reserves in massive amounts. As a result, the raw materials procurement to manufacture these products is also hassle-free. In addition to this, North America is one of the fastest growing markets for engineered wood products such as laminated veneer lumber (LVL). Lucrative growth in engineered wood products segment offers significant growth prospects to the secondary wood products industry. Furthermore, North American wooden products are also gaining traction in the Asian and European markets. Catalyzed by these factors, IMARC Group expects the secondary wood products market in North America to reach a value of US$ 322.1 Billion by 2024, exhibiting a CAGR of more than 2% during 2019-2024.
Market Breakup by Type
Amongst these, wood furniture currently represents the biggest segment, accounting for the largest market share.
Market Breakup by Country
Amongst these, the United States currently represents the biggest segment, accounting for majority of the market share.
The report has also examined the competitive landscape of North America secondary wood products market. Some of the major players include Ashley Furniture Industries, Steelcase, HNI Corporation, Herman Miller, Weyerhaeuser Company, etc.
Key Questions Answered in This Report:
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