Laminated Veneer Lumber (LVL) Market is Growing in Huge Demand | Top Players, Application and Forecast to 2028

The primary factor driving the global LVL market is the revival of the construction industry.

BROOKLYN, NY, USA, September 1, 2023/EINPresswire.com/ -- The latest report by IMARC Group, titled “Laminated Veneer Lumber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global laminated veneer lumber market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

Laminated Veneer Lumber Market Size, CAGR and Forecast 2023-2028:

The global laminated veneer lumber market size reached US$ 5.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.1 Billion by 2028, exhibiting a growth rate (CAGR) of 2.6% during 2023-2028.

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Laminated Veneer Lumber (LVL) refers to a high-strength engineered wood product made by layering dried and graded wood veneers with durable, moisture-resistant adhesives. The manufacturing process involves several stages, such as sourcing and conditioning the veneers, applying the adhesive, pressing them together, and finally, sawing the pressed material into specified sizes. This results in a product with enhanced strength, dimensional stability, and versatility, positioning LVL as a significant part of the global engineered wood market.

LVL Market Trends and Growth Drivers:

The growing trend towards sustainable construction materials and the increasing global emphasis on structural integrity and durability are key drivers propelling the growth of the LVL market. In parallel with this trend, LVL is increasingly recognized as a superior alternative to solid lumber and concrete, significantly influencing market growth.

Moreover, advancements in wood engineering have enabled the production of LVL with diverse dimensions and strengths, driving market growth. The focus on sustainable living, resource efficiency, and product quality is amplifying the demand for LVL, as it aligns with these values. This aspect, combined with growing consumer awareness about the benefits of engineered wood products, is fostering market growth.

In addition, the increasing demand from various sectors, including residential, commercial, and industrial construction for eco-friendly and high-performance building solutions, is accelerating market expansion. Furthermore, the need for compliance with regulations pertaining to product safety, quality standards, and environmental sustainability is fuelling the market's growth.

The global construction and engineered wood product landscape, along with governmental policies supporting sustainable manufacturing practices and high-quality products, is fostering a positive market outlook. Other factors, such as investments in research for developing innovative LVL production methods, and the emergence of companies specializing in this sector, are stimulating market growth worldwide.

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What Is Included In Market Segmentation?

The report has segmented the market into the following categories.

Breakup by Residential and Commercial Application:

• Residential
• Commercial

Breakup by New Construction and Replacement Sector:

• New Construction
• Replacement

Breakup by Region:

• Asia Pacific
• North America
• Europe
• Latin America
• Middle East and Africa

Who Are The Key Players Operating In The Industry?

• STEICO SE
• Louisiana-Pacific Corporation
• Roseburg Forest Products Co.
• UFP Industries, Inc.
• Brisco Manufacturing Ltd.
• Huber Engineered Woods LLC
• Murphy Company
• Weyerhaeuser Company
• Boise Cascade Company
• Nelson Pine Industries Limited
• Stora Enso Oyj
• Magnus Plywood Pvt. Ltd.

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Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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