North America Laminated Veneer Lumber (LVL) Market News, Price and Forecast to 2020-25

Press release   •   Feb 07, 2020 04:22 EST

According to the latest report by IMARC Group, titled “North America Laminated Veneer Lumber Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the laminated veneer lumber market in North America reached a volume of 2.7 Million cubic meters in 2019. Laminated veneer lumber (LVL) is a lightweight and durable product made from wooden panels under heat and pressure, using a fully weatherproof glue. These panels are fabricated together to provide dimensional precision, uniformity, and ability to span long distances.

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In North America, the rising number of renovation and housing projects has boosted the furniture manufacturing sector. This, in turn, has increased the demand for LVL across the region as it is cost-effective, reliable and has high structural reliability as compared to milled lumber. It is extensively used for numerous structural purposes in wooden houses, industrial warehouses, public buildings and large prefabricated buildings, which further contributes to the market growth. Moreover, rising environmental concerns have encouraged the governments of countries in the North American region to promote the use of sustainable materials. Consequently, the market for LVL has gained immense momentum, particularly in the United States, where LVL is widely utilized for substituting traditional materials. Owing to these factors, the market for LVL is expected to continue flourishing in the North American region in the coming years. Looking forward, IMARC Group expects the market to reach a volume of 4.2 Million cubic meters by 2025, registering a CAGR of around 8% during 2020-2025.

Market Breakup by Application:

  • Residential
  • Commercial

Market Breakup by Sector:

  • New Construction
  • Replacement

Market Breakup by Country:

  • United States
  • Canada

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