Rising demand for cost-effective wood products for building applications is driving growth in the North American and European engineered wood markets.
Research by Frost & Sullivan found that, despite the severe decline in the housebuilding and RMI markets in both continents, volume consumption of engineered wood products (EWP) was expected to pick up due to increasing consumer acceptance.
The trend for environmentally-friendly products was also driving demand.
In Europe, there was greater use of EWP in the non-residential construction and industrial markets, while in North America the opposite was true, largely due to the prominence of timber frame housing.
The research, which covered OSB, plywood, MDF, chipboard, LVL, glulam, I-joists and hardboard, found that, while market prospects were bright, higher energy costs meant manufacturers’ profitability had declined. High capital costs had also discouraged investment in new facilities.
To purchase the report, go to www.researchandmarkets.com.
