Reclaimed Lumber Market to Hit $80.37 Billion By 2030

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The global Reclaimed Lumber market size is expected to be worth around US$ 80.37 billion by 2030, according to a new report by Vision Research Reports.

The global Reclaimed Lumber market size was valued at US$ 49.27 billion in 2020 and is anticipated to grow at a CAGR of 4.10% during forecast period 2021 to 2030.

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Growth Factors

The global industry growth is also credited to the burgeoning demand for wood-based products in, paneling & siding, and architectural millwork owing to their durability and aesthetics. The antique look and aesthetic appeal offered by these products are the major factors responsible for its high demand.

Increased penetration of the product in the construction industry due to factors, such as its eco-friendly nature, availability of a wide range of products under LEED certifications, and rising adoption of green building construction materials, is expected to augment the market growth over the forecast period.

Key market players majorly focus on offering high-quality materials to their customers and follow a focused cost leadership. The companies attempt to diversify their business through consistent quality and better customer service. New entrants or small market players prefer to develop a strategic relationship with local end-users, such as furniture manufacturers or construction contractors, who consume a large portion of the products.

Report Highlights

The furniture segment led the global market with a revenue share of over 31% in 2020 and is projected to witness significant growth from 2021 to 2028. High demand for antique furniture and custom-manufactured furniture, including chairs, shelves, etc. is expected to drive the segment growth over the forecast period.

Based on application, the market is segmented into furniture, paneling & siding, flooring, beams, and others. flooring s one of the prominent applications. Materials ranging from clear, vertical grain to naily grade are preferred for flooring applications.

The others application segment includes architectural millwork and small item manufacturing, such as gift boxes and slingshot handles. Small-item manufacturing requires small wood pieces, which can be easily obtained from the waste wood of primary and secondary wood manufacturing sectors. The material used is often inexpensive; however, the product cost is usually high due to high labor costs.

The global market has witnessed significant growth and is projected to maintain its pace over the forecast period. However, the impact of the Covid-19 pandemic can be seen on the overall market prospect. Temporary shutdown of the global industries, complete lockdown across several key regions, and supply chain interruptions have severely affected the market growth.

The commercial end-use segment dominated the market in 2020 and accounted for over 57% of the global revenue share. The segment is projected to witness the fastest CAGR from 2021 to 2028. The product has several applications in the commercial sector, including wall coverings, flooring, tabletops, seats, and light fixtures. The product is preferred for its rustic design and unique look. The design aesthetic helps to disguise the wear and tear in high traffic areas, which is a common occurrence in the commercial sector. Moreover, product usage for interior applications offers uniqueness to the design, which is often preferred by the operators.

Reclaimed wood products offer an ideal choice for many residential applications, such as framing, casework, paneling, flooring, trim, cabinets, and interior design components. The product demand in high-quality decorative applications is expected to fuel the segment growth over the forecast period. Reclaimed lumber products meet LEED and FSC certifications and are associated with responsible forestry and sustainability. However, the industrial applications accounted for a minor share in the market on account of the dynamic nature of the industrial processes and stringent policies & regulations regarding the materials used in the industrial premises.

Europe dominated the market and accounted for over 41% of global revenue in 2020 owing to significant growth and increased private investments in the construction sector. The regional market will expand further at a steady CAGR from 201 to 2028 due to the rapidly growing residential sector in the region and rising product demand from developed economies, such as Germany and the U.K.

Asia Pacific is expected to register the fastest CAGR from 2021 to 2028 owing to rapid urbanization, rising population, and an increasing number of construction activities in the region. The market is majorly driven by product penetration in the commercial sector. Flourishing tourism has led to growing requirements for restaurants and food chains in the region, which is projected to fuel the product demand.

North America exhibits a steady product demand due to increasing awareness regarding its functionality, look, feel, and cost in applications, such as flooring, furniture, and structural timbers. The U.S. dominates the North America regional market owing to the surge in demand from the commercial sector, including retail, hospitality, and offices.

The Rest of the World segment includes South Africa and Brazil, where the market is projected to have a substantial growth due to demand for reclaimed furniture and other household accessories on account of the rise in construction activities. Moreover, increasing product demand in interior decoration applications is anticipated to bolster the segment growth.

Key Players

  • Vintage Timberworks, Inc.
  • Carpentier Hardwood Solutions, NV
  • Imondi Flooring
  • TerraMai
  • Jarmak Corporation
  • Elemental Republic
  • Olde Wood Ltd.
  • Trestlewood
  • True American Grain Reclaimed Wood
  • Beam and Board, LLC
  • Altruwood

Market Segmentation

  • Application Outlook 
    • Flooring
    • Paneling & Siding
    • Beams
    • Furniture
    • Others
  • End-use Outlook 
    • Residential
    • Commercial
    • Industrial
  • Regional Outlook 
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Russia
    • Asia Pacific
      • China
      • Japan
    • Rest of the World
      • Brazil
      • South Africa

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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Daksh is an SEO Analyst having 3 years of experienced. we can quickly understand and support initiatives that will contribute to the goals and success of client campaigns. and also Perform keyword research in coordination with client business objectives to optimize existing content and uncover new opportunities.

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