Global Reclaimed Lumber Market by Application (Flooring, Furniture, Beams & Boards), by End-use (Residential, Commercial) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global reclaimed lumber market was worth USD 49.27 Billion in 2020. It is projected to grow at a compound annual rate (CAGR of 4.6%) between 2021 and 2028. The market is thriving due to increasing environmental awareness, inclination to recycle, and increased provisions for waste management. Construction has noticed a growing trend towards sustainable construction with CLT. The product demand is expected to rise due to the increasing use of reclaimed lumber for CLT products and the rising interest of architects, engineers, and developers in tall wooden buildings that reduce carbon footprint.

China will see significant product demand due to growing awareness about reducing Greenhouse Gases (GHG) emissions, and the large wood-based construction industry. Wooden construction has been growing in China in recent years due to its excellent seismic performance, energy conservation and preservation of Chinese traditions.

These products can be used in construction to reduce the amount of waste going to landfills. This will result in significant reductions in environmental pollution. Wood waste recovery strategies have been encouraged by the rising costs of landfill space and state mandates to reduce waste. This has led to a rise in wood waste from deconstruction.

To reduce demolition debris and provide low-cost construction materials that are not too costly, product manufacturers try to recover both the quantity and quality of recyclable and reusable materials. The material prices at this stage are affected by the availability of old structures that can be deconstructed and rising labor costs.

The construction industry has seen a rise in green buildings as more building materials and practices are being scrutinized for their environmental impacts. The market outlook has been restructured by the stringent regulatory framework. This includes various policies and regulations such as The European Union Timber Regulation (EUTR) and certifications such as Forest Stewardship Council(FSC).

Application Insights

With a market share of more than 31% in 2020, the furniture segment led global markets. It is expected to see significant growth between 2021 and 2028. There is a high demand for antique furniture as well as custom-made furniture such shelves and chairs. Forecasts predict that this segment will grow significantly over the next few years.

The market can be divided by application into flooring, paneling & siding and flooring. Flooring is one prominent application. Flooring applications are best suited for materials that can be cut from clear, straight grain to naily grades.

Other applications include architectural millwork, small item manufacturing, and gift boxes. For small-item manufacturing, you will need small pieces of wood. This can easily be obtained from the secondary and primary wood manufacturing sectors. Although the material is inexpensive, the labor cost for producing it is high.

Global market growth has been significant and will continue to grow over the forecast period. The market outlook is affected by the Covid-19 pandemic. Market growth has been severely affected by the temporary shutdown of global industries, complete lockdown in several key regions, as well as supply chain disruptions.

End-use Insights

In 2020, the commercial end-use segment was the dominant market and accounted to over 57% global revenue share. This segment is expected to experience the fastest CAGR between 2021 and 2028. There are many uses for the product in commercial sectors, such as wall coverings, flooring and tabletops. It is loved for its unique design and rustic look. This design helps hide the wear and tear that can occur in high-traffic areas in commercial buildings. Operators often prefer unique product use for interior applications.

Reclaimed wood products are a great choice for many residential uses, including framing and casework, flooring, trim, cabinets and interior design components. Over the forecast period, the segment will see a rise in demand for high-quality decorative products. Reclaimed lumber products are certified by FSC and LEED, and they are associated with sustainable forestry and responsible forestry. The market share was smaller for industrial applications due to the dynamic nature and strict policies & regulations in place regarding materials and their use in industrial premises.

Regional Insights

Europe was the dominant market, accounting for 41% of global revenue. This is due to substantial growth and higher private investment in the construction sector. Due to the rapid growth of the regional residential sector and increasing product demand from developed countries like Germany and the U.K., the market will continue to expand at a steady CAGR between 201 and 2028.

Asia Pacific will experience the fastest CAGR between 2021 and 2028 due to its rapid urbanization, growing population, and increasing construction activity. Product penetration in the commercial sector is the main driver of this market. The region's flourishing tourism has resulted in a growing demand for restaurants and food chain businesses, which will fuel the product demand.

North America has a steady product demand because of increasing awareness about its functionality, appearance, feel, cost, and use in applications such as flooring, furniture and structural timbers. Due to the rise in demand from the commercial sector (retail, hospitality and offices), the U.S. dominates North America's regional market.

The Rest of the World segment comprises South Africa and Brazil. This market is expected to experience a significant growth because of increased demand for reclaimed furniture, household accessories and other construction materials. The segment is expected to grow due to increased product demand for interior decoration products.

Market Share Insights & Key Companies

Global market players compete primarily on the basis of product quality, customer service and price. Players focus on high-quality materials, and they follow a cost leadership strategy. Many companies seek to be competitive by offering a wide range of materials and fast turnaround times. There is increased competition in the market and more integration across the value chain. Due to rising transportation costs, there are limitations for companies at all stages of the value chain in expanding their geographic reach. The following are some of the major players in the global market for reclaimed lumber:

• Vintage Timberworks, Inc.

• Carpentier Hardwood Solutions, NV

• Imondi Flooring

• TerraMai

• Jarmak Corporation

• Elemental Republic

• Olde Wood Ltd.

• Trestlewood

• Reclaimed wood from American Grain

• Beam and Board, LLC

• Altruwood

Up Market Research published a new report titled “Reclaimed Lumber Market research report which is segmented by Application (Flooring, Furniture, Beams & Boards), by End-use (Residential, Commercial), By Players/Companies Elemental Republic, True American Grain Reclaimed Wood, Vintage Timberworks Inc, Beam and Board LLC, TerraMai, Jarmak Corporation, Carpentier Hardwood Solutions NV, Trestlewood, Olde Wood Ltd, Altruwood, Imondi Flooring”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Reclaimed Lumber Market Report Segments:

The market is segmented by Application (Flooring, Furniture, Beams & Boards), by End-use (Residential, Commercial).

Reclaimed Lumber Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Reclaimed Lumber Market

Overview of the regional outlook of the Reclaimed Lumber Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Reclaimed Lumber Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Reclaimed Lumber Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Flooring

                2. Furniture

                3. Beams & Boards

                1. Residential

                2. Commercial

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Reclaimed Lumber Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
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Reasons to Purchase the Reclaimed Lumber Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.