The global Reclaimed Lumber market is forecast to reach USD 17.79 Billion by 2027, according to a new report by Reports and Data. Growing demand for recycled wood furniture due to low costs and environmental benefits will drive the global market over the forecast period. Various government mandates and the increased cost of landfills to reduce waste have encouraged the recovery of wood waste. The industry has experienced a notable shift from recovering wood recovered with little or no defects to recovering higher-value applications, including doors, wall panels, and fencing, to increase the percentage of salvage value.
Reclaimed lumber is of higher quality than sustainably harvested and virgin wood, but is available at a higher price than its counterparts. Besides, the industry is experiencing a significant gap between supply and demand, which results in high consumption of substitutes, thus limiting the growth of the industry. There are a large number of regional companies operating in the world market. Entry into the market is not capital intensive, which should intensify competition from emerging companies. Besides, the increase in profit margins associated with the growing demand for the product should also attract new companies to the industry.
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Key participants include Carpentier Hardwood Solutions NV, Recycling the Past, LLC, Vintage Timberworks, Inc., Longleaf Lumber, Inc., Atlantic Reclaimed Lumber, LLC, Imondi Flooring, Jarmak Corporation, Elmwood Reclaimed Timber, G R Plume Company, and Olde Wood Ltd., among others.
Further key findings from the report suggest
- Flooring dominated the market in 2019 and accounted for 30.7% of total volume due to the demand for aesthetic and durable products in the residential and commercial sectors.
- The commercial sector is expected to be the fastest-growing segment during the forecast period due to the preference for rustic appearance and unique designs for applications such as flooring, wall coverings, tabletops, and light fixtures.
- The industry is concentrated in North America and is expected to reach sales of USD 5.34 billion by 2027 due to an upward trend for green building materials and positive green building code developments.
- Growing demand for products for structural applications, including cross-laminated timber (CLT) and glued laminated timber (glulam) in Europe, is expected to fuel regional growth.
- The global market for reclaimed lumber presents an increased integration of companies along the value chain combined with deconstruction contractors, often being integrated into distribution forwardly. In contrast, product manufacturers generally present a backward integration to processing.
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For the purpose of this report, Reports and Data have segmented into the global Reclaimed Lumber market on the basis of Application, Source, End-Use, and Region:
Application Outlook (Revenue, USD Billion; 2017-2027)
- Beams & Boards
- Flooring
- Paneling and Siding
- Furniture
- Others
Source Outlook (Revenue, USD Billion; 2017-2027)
- Post-industrial Reclaimed
- Post-Consumer Reclaimed
- Water Reclaimed
- Orchard Salvage Reclaimed
- Forest Floor Salvage Reclaimed
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Commercial
- Residential
- Industrial
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Detailed Regional Analysis Covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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