Global Laminated Veneer Lumber Market Overview 2018 - Share, Size, Trends And Forecast to 2023
united states, 12 July 2018 -- The global laminated veneer lumber market has experienced a robust growth over the years. The increasing demand for LVL can be attributed to the revival in the construction activities and increasing renovation projects across the globe.
Laminated veneer lumber (LVL) is made by bonding rotary peeled and sliced thin wood veneers with weatherproof glue under high heat and pressure. This engineered wood product provides high durability, uniformity and strength due to the low variability of the panels. Additionally, it is light in weight and has the ability to span long distances. A new research report by IMARC Group, titled “Laminated Veneer Lumber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the global laminated veneer lumber market reached a value of US$ 2.3 Billion in 2017, registering a CAGR of around 16% during 2010-2017. The report further anticipates the market to reach a value of US$ 5.5 Billion by 2023.
Global Laminated Veneer Lumber Market Drivers/Constraints:
Due to its advantageous structural properties, laminated veneer lumber is employed in the construction of customised wooden houses, large prefabricated buildings and industrial warehouses. A rise in the construction of these buildings is stimulating the market growth.
Revival in the construction industry, particularly in the developed regions, has led to an increase in the construction of residential, commercial and infrastructural projects, thereby bolstering the demand for LVL worldwide.
In the recent years, the global laminated veneer lumber market has gained momentum in the United States and European countries, where LVL is used for substituting traditional building materials such as concrete or structural steel.
The availability of alternatives for LVL can hamper the growth of the global LVL market. Moreover, uncertainties in the economic scenario and infrastructural risks are some of the other factors deterring the growth of the market.
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