The Global Reclaimed Lumber Market was valued at $45.3 Billion in 2020. Growing at a high CAGR of more than 6.4% between 2021 and 2031, it is estimated to reach $90.5 Billion by 2031. But, the current pandemic of COVID-19 might make a slight difference in the current year's growth rate. The increasing interest in green building construction among the people and increasing awareness of the product’s environmental benefits projected to augment the market growth during the forecast period. the demand for reclaimed lumber is increasing for the construction industry. Apart from that, the increasing demand for fresh wood and lumber propel the market growth during the forecast period. Now, moving forward, the robust demand for the Global Reclaimed Lumber Market in the housing department is further estimated to create new necessities and augment the market of growth over the forecast period of 2021-2031.
Global Reclaimed Lumber Segment Is Estimated to Witness Remarkable Growth
Source: SAI Research
The Reclaimed Lumber market is segmented as application and end-use. Based on application, the global Reclaimed Lumber market is divided into Flooring, Paneling, Beams & Boards, Furniture, and Others. Based on end-use, the global Reclaimed Lumber market has been bifurcated as Residential, Commercial, and Industrial.
By Region, North America is Holding the Major Market Share
The Reclaimed Lumber Market has been geographically segmented into North America, Asia Pacific, Latin America, Middle East, and Africa region. In addition to this, North America has a significant share among those regions. The increasing housing sector and rising awareness regarding green building are expecting to drive the market over the region. Apart from that, favorable rules and regulations and growing investment in the housing sector are factors for market growth. Apart from that, the Asia Pacific and the Rest of the regions are expected to increase the growth rate in the upcoming forecast period of 2021 to 2031.
Major Players in the Global Reclaimed Lumber Market
The report covers a detailed outlook about the company, and it includes the company or industry profiles and market share of key players operating in the global market. Key players in the report include Longleaf Lumber, Inc., Vintage Timberworks, Inc., Atlantic Reclaimed Lumber, LLC, Carpentier Hardwood Solutions, NV, Imondi Flooring, TerraMai, Jarmak Corporation, Elemental Republic, Elmwood Reclaimed Timber, Olde Wood Ltd., Trestlewood, Montana Reclaimed Lumber Co., True American Grain Reclaimed Wood, Beam and Board, LLC, and Altruwood among others.
The Global Reclaimed Lumber Market Has Been Segmented into:
Global Reclaimed Lumber Market: By Device Type
Global Reclaimed Lumber Market: By Application
Global Reclaimed Lumber Market: By Region