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Market Overview
Recent research shows that the Global Reclaimed Lumber Market has witnessed prominent growth in the past few years and the market is expected to find more opportunities to grow in the projected period of 2023 – 2032.
The Global Reclaimed Lumber Market revenue was valued at USD 48.5 Billion in 2022. The reclaimed lumber market industry is projected to grow from USD 50.92 Billion in 2023 to USD 75.239 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.00%
The increasing awareness for preserving the environment, and the growing need for waste management, recycling etc were some of the major market drivers to boost the Global Reclaimed Lumber Market in past years. These aspects are also expected to work as the main forces in the market growth in the forecasted period.
During Covid-19 the market witnessed some major drawbacks in production and distribution sectors due to lockdowns and restrictions all over the world, but rising awareness of the environment due to the pandemic has positively impacted the market in post-pandemic time.
Market Segmentation
The Global Cookies Market is segmented into Application, end-use and region.
Depending on the Application, the Global Reclaimed Lumber Market is divided into Furniture, panelling, siding, flooring, beams are other applications. The furniture segment holds the largest market share. Materials starting from vertical grains, and clear grains to naily grades are preferred for furniture application.
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Depending on the end-user, the market is divided into residential, commercial and industrial. The commercial segment dominates the Global market and is predicted to continue its dominance over the market in future years.
The increasing need for environmental protection, inclination toward wood cutting and growing awareness of preserving old wood structures are predicted to be the major market drivers in the forecasted period and help in development of the Global Reclaimed Lumber Market size.
Regional Classification
According to the regional classification, the Global Reclaimed Lumber Market is further divided into North America, Latin America, Middle East Asia, Asia Pacific, Europe and Africa.
Europe holds the largest Global Reclaimed Lumber Market share due to the rising awareness about the environment, increasing demand for preserving old wood structures and increasing investment in this sector has fuelled the market growth in this region.
Asia Pacific region will be the fastest-growing market in the forecasted period due to the rapid modernization, growing population and increasing construction activities in this region. And this region will hold a significant amount of Global Reclaimed Lumber Market revenue in future years.
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Industry News
Some of the major key players in the Global Reclaimed Lumber Market are Longleaf Lumber Inc, Altholz – Baumgartner & Co GmbH, A/S Lumber, Viridian Reclaimed Wood, MONTANA RECLAIMED LUMBER Co., IMONDI FLOORING, Fine Lumber Co, T. MOORE MANUFACTURING INC, TerraMai, reSAWN LUMBER co., Vintage Lumberworks Inc and Sustainable Lumber Company.
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