Market Synopsis:
According to the MRFR analysis, the global Reclaimed Lumber
Market Trends is projected to reach a market value of over USD 70 billion by
the end of 2027 at a CAGR of over 4.5%.
Reclaimed lumber is old timber that has been recovered and
repurposed. It is high-quality “upcycled” wood taken from various sources such
as factories, old barns, retired ships, warehouses, among others. Reclaimed
lumber offers several advantages over virgin wood, for instance,is up to 40
points harder on the Janka hardness scale than virgin wood. In addition,
reclaimed lumberprovides a vintage look, is long-lasting, and lends beautifully
rustic character to any building, modern or traditional, commercial or private.
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The prominent factor favoring the growth of the global
market is the increasing demand for reclaimed lumbers in the building &
construction industry, especially in commercial and residential constructions.
As per MRFR analysis, the expenditure in the global construction industry was
USD 11.2 trillion in 2019and is projected to rise at a healthy rate
year-on-year, to reach USD over 14 trillion by the end of 2027. The expanding
construction sector in the emerging economies of Asia-Pacific is likely to
drive the market growth during the forecast period. The growing investments
incommercial construction projectsin Southeast Asian economies such as
Thailand, Indonesia, Malaysia, Myanmar, Singapore, and Vietnam is likely to
favor the global market growth.
Moreover, the green building concepts are becoming
increasingly widespread in the construction field, thus resulting inrise in
examination of building materials for their environmental impact. Reusing
building materials has a distinct advantage over using newly manufactured
materials as these reclaimed materials avoid greenhouse gas emissions
associated with new (virgin) material manufacturing. For instance, the total
energy required to produce 1 m3 of wood flooring from virgin wood materials is
about 13 times the energy required to use reclaimed flooring.
SEGMENTATION
By Type
- Furniture:Reclaimed
lumber furniture provides rustic and elegantlook naturally without
requiring using paints, stains, and other related chemicals to refine
reclaimed wood furniture as this is the desired trendy look. Moreover, the
reclaimed lumber furniture is gaining popularity as it offers unique,
natural, rustic look or a vintage feel. Moreover, growing sentiments over
deforestation have driven people to choose environment friendly
product.Furniture made of reclaimed lumber is eco-friendly and is considered
sustainable furniture. The durability is much higher, and the dense wood
is stronger and will continue to last much longer than newly harvested
wood. Additionally, the reclaimed lumber is also resistant to termites due
to the hardness and density.
The furniture segment held the largest share of over 35%
in the global market in 2019.
- Flooring: Reclaimed
Lumber Market Trends in flooring applications is one of the most
promising applications in the global market. Reclaimed lumber flooring
offerswarmth, character, and durability.The enduring beauty of reclaimed
oak floors, the charm of reclaimed hemlock, the varying colors of
reclaimed hickory, and the rustic comfort of reclaimed pine flooring makes
reclaimed lumber a preferred flooring material. In addition, reclaimed
lumberis extremely versatile in terms of desired finishing look, it can be
stained in a variety of tones, from light to dark, or finished with a
clear stain for a natural look.
This segment held the second-largest share of the
market, around 25%, in 2019.
- Beams: Reclaimed
lumber beams are often used as decorative, exposed elements in residential
housing -ridge beams, trusses, rafters, posts, and headers. Alternatively,
they can be surfaced, ground, hand hewn, or sawn to change their original
appearance to better fit in with the design expectations.
- Paneling
& Siding
- Others: The
others segment includes fences, external structures, countertops.
By End Use
- Commercial
Construction: The commercial construction sector is the major
end-use segment forthe Reclaimed Lumber Market Trends, with a share of
over50% in 2019. The rising commercial construction,
especially in India and China, due to the growing economies and
population, the increasing private sector investments, the rising
per-capita incomes, growing consumer spending, and the improving standard
of living are together expected to boost the demand for furniture and
other construction materials, and thus for reclaimed lumbers. Widespread
use of reclaimed lumbers for both interiors and exteriors(flooring,
furniture or cladding) in commercial constructions, such as offices,
hotels, high-rise buildings, warehouses, shopping malls is expected to
favor the growth of the segment in the years to follow.
- Residential
Construction:The residential construction segment is expected to
witness healthy growth, particularly in the developing economies of
Asia-Pacific, Latin America, and the Middle East & Africa. Increasing
demand for luxury and vintage furniture and wooden itemsin the residences
is expected to favor the growth of the segment in the years to follow.
- Industrial
By Region
- North
America
- Europe:Western
European countries, including Germany, France, and Spain, are the major
contributors to the regional market growth.The established building &
construction industry is expected to support the growth of the regional
market during the forecast period.
- Asia-Pacific:Asia-Pacific
isthe fastest-growing regional market for reclaimed lumbers, with China
and India being the leading country-level markets.
- Latin
America:The booming construction sector in Mexico and Brazil
islikely to fuel the demand forreclaimed lumbers in Latin Americain the
coming years.
- Middle
East & Africa
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