Reclaimed Lumber Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018 - 2028
Global Reclaimed Lumber Market: Snapshot
The increasing awareness amongst consumers and vendors about recycling, reusing, and reducing has given the global reclaimed lumber market a major push in the recent years. Reclaimed lumber refers to timer that is salvaged from warehouses, old buildings, discarded furniture pieces, barrels, and other wooden structures. Numerous environmental benefits of reclaimed lumber has won the market an unwavering consumer base over the years. The rise of construction industry across the globe and especially in the developing parts of the world has significantly upped the demand for reclaimed lumber as it is definitely known to better alternative to plastics.
The demand for reclaimed lumber is also expected to rise in the coming years as older wood is far more durable than new wood. The long-term exposure of reclaimed lumber to harsh weather conditions makes it less likely to split as it has already undergone expansion and contraction cycles. Thus, its intrinsic durability makes it a better option than newer timber. The demand for reclaimed timber will be primarily driven by the rapid pace of urbanization and industrialization. Usage of reclaimed lumber has also gained momentum as it lends a certain aesthetic appeal to the end products.
Recognition of claimed lumber as a green building material has garnered the global market special attention from many construction giants in recent years. Increasing emphasis on building eco-friendly structures to reduce material wastage and overall carbon footprint has favored the reclaimed lumber market tremendously. The only factor that is likely to hamper the sales of reclaimed lumber is its high cost. As this timber needs to be restored is demands Herculean time and effort to be brought to a point of reuse. This very factor is expected to restrain the growth of the global reclaimed lumber market in the coming years.
Global Reclaimed Lumber Market: Overview
The report details an exhaustive account of the global reclaimed lumber market along with numerous associated factors. Some of these factors that are included in the report are drivers, restraints, competitive analysis, latest trends and opportunities, geographical outlook, and many other aspects. The study covered in the report spans a forecast period from 2018 to 2028. From an overall perspective, the report is expected to exist as a valuable insight to businesses which are already operating in the global reclaimed lumber market, as well for those who intend to newly establish themselves in this environment.
Global Reclaimed Lumber Market: Market Potential and Drivers
A burgeoning expansion witnessed by the construction industry is primarily driving the global reclaimed lumber market. This is mainly due to highly preferred properties present in reclaimed lumber such as superior stability, high strength, less carbon footprint, and good durability. Such characteristics make the lumber perfect for utilization in various types of construction projects. With rapid urbanization and industrialization, a growing demand for construction of residential and commercial spaces is felt. And with a pointed effort made by several construction companies to cause least harm to the environment, the relevant market is growing with leaps and bounds in recent times. Moreover, with a rising awareness about reclaimed wood raw materials, the utilization of new timber has witnessed a substantial drop, thereby contributing towards a significant growth witnessed by the market.
Another major factor boosting the market’s growth involves favorable initiatives put forth by various governments that demand use of green building materials in order to achieve green building status. Reclaimed lumber being one of the officially recognized green building materials, the associated market is further expected to witness tremendous progress with a rising demand for eco-friendly structures.
Global Reclaimed Lumber Market: Geographical Outlook
The global reclaimed lumber market is majorly concentrated in North America, Asia Pacific, the Middle East and Africa, Europe, and Latin America. Of these, maximum presence of the market occurs in North America and Europe. The former region holds a leading position mainly due to a strong infrastructural setup and highly advancing construction industry. Whereas Europe holds the second spot owing to a high awareness in terms of green building techniques. Large-scale implementation of green building assessment methods such as BREEAM and LEED in Europe also have made the region depict a substantial market growth. However, apart from these regions, mammoth efforts are being made by leading countries from Asia Pacific too, in order to make their presence felt in the market. With well-known companies getting established in Asia Pacific, this region is anticipated to expand at a vigorous rate in future.
Global Reclaimed Lumber Market: Competitive Landscape
The global reclaimed lumber market depicts the presence of a highly competitive and fragmented vendor landscape. This is mainly due to numerous new companies entering this market on a regular basis, mainly by banking on the uniqueness of their products. Most participants procure raw materials from multiple sources, consequently providing superior quality products to the customers. With the number of players expected to increase in the vendor landscape, the competition is predicted to intensify further in the global reclaimed lumber market. Most businesses focus on improving product quality, bring forth product differentiation, and achieve geographical expansion, in order to gain extensive revenue.
Altruwood, Carpentier Hardwood Solutions NV, Recycling the Past, LLC, Vintage Timberworks, Inc., Longleaf Lumber, Inc., Atlantic Reclaimed Lumber, LLC, Eagle Reclaimed Lumber, Imondi Flooring, TerraMai, Jarmak Corporation, Elemental Republics, Elmwood Reclaimed Timber, Trestlewood, G R Plume Company, and Olde Wood Ltd., are key players operating in the global reclaimed lumber market.
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