Market Overview
The Reclaimed Lumber Market Size is expected to register a CAGR of about 5% during the forecast period. Reclaimed lumber is milled timber that has been recovered after its successful installation in structures (such as old barns, mills, and dormitories) for use in new applications. Smaller structures, such as wood packaging, ancient homes, railcars, and pallets, are also being reclaimed in growing quantities. Reclaimed lumber reduces tropical forest disturbance by minimizing the usage of new wood, reduces waste disposal, and has a higher energy density than new lumber manufacturing. The building and construction sector's increased demand for reclaimed timber and commodities derived from reclaimed lumber is a primary driver of the Reclaimed Lumber Market's growth.
The global COVID-19 problem has impacted the construction industry, since various existing construction projects have been postponed or canceled, resulting in costs in the millions and billions of dollars. The International Monetary Fund (IMF) forecasts a 3% drop in global real GDP in 2020, down 5.9% points from the 2.9% gain seen in 2019. The construction industry in the United States, like many other industries, will suffer significant losses, with projects in southern Europe projected to drop by 60-70 percent. As a result, the construction industry has collapsed, putting a cap on the Reclaimed Lumber Market.
Market Segmentation
Based on the application, the Reclaimed Lumber Market is segmented into furniture, flooring, paneling & sliding, beams, and others.
Based on the end-users, the Reclaimed Lumber Market is segmented into commercial construction, residential construction, and industrial.
Based on the region, the Reclaimed Lumber Market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Regional Classification
Europe led the market during the historic forecast period, accounting for more than 40% of global sales, thanks to a recovery in residential structures and increased private investment in the construction sector. Due to the region's constantly increasing residential sector and rising production volume from established economies like Germany, France, and the United Kingdom, the regional market will grow. During the historic forecast period, the Asia-Pacific Reclaimed Lumber Market had the second-largest share of over 30% and is predicted to grow at the fastest rate throughout the forecast period. This is mostly due to increased commercial development projects in China, India, and Southeast Asian countries, as well as significant demand for the product in the growing business and residential building sectors.
Key Market Players
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
Sustainable Lumber Company
Industry News
The major key players in the market are Longleaf Lumber, Inc., Altholz - Baumgartner & Co GmbH, A/S Global Timber, Viridian Reclaimed Wood, Montana Reclaimed Lumber Co., Imondi Flooring, Fine Lumber Co., T. Moore Manufacturing Inc., TerraMai, reSAWN Timber Co., Vintage Timberworks Inc., and Sustainable Lumber Company. Participants in the Global Reclaimed Lumber Market compete primarily on product quality, customer service, and product cost. The participants focus on providing high-quality supplies while adhering to a strict pricing plan. Many companies try to gain a competitive advantage by providing low prices, a wide selection of products, and quick turnaround times. The industry is changing, and competitors are becoming more integrated across the value chain.
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