Canada Engineered Wood Market Overview, 2029

The engineered wood market has witnessed remarkable growth and transformation, revolutionising the construction and manufacturing industries. This dynamic sector has become a cornerstone of modern building practices, offering a spectrum of innovative solutions that balance performance, sustainability, and cost-effectiveness. From residential structures to commercial developments, engineered wood has emerged as a versatile and integral component, reshaping the way we approach construction projects. From the resplendent skylines of urban centres to the serene structures nestled in natural landscapes, engineered wood has become an integral component in the creation of sustainable, resilient, and aesthetically pleasing buildings. This burgeoning market encompasses an array of innovative products, including laminated veneer lumber (LVL), oriented strand board (OSB), and glued laminated timber (glulam), each playing a distinct role in meeting the diverse needs of construction projects across the country. The Canadian Engineered Wood Market is influenced by a myriad of factors, including a growing emphasis on green building practices, the need for cost-effective and efficient construction solutions, and the recognition of engineered wood's ability to address both structural and environmental considerations. This introductory overview delves into the key facets shaping the Canadian Engineered Wood Market, reflecting its pivotal role in redefining the construction landscape and contributing to the sustainable and innovative ethos of the Canadian building industry. According to the research report "Canada Engineered Wood Market Overview, 2029," published by Bonafide Research, the Canada Engineered Wood market was valued at more than USD 9 Billion in 2023. Engineered wood offers versatility in design and adaptability to various construction applications. From residential structures to commercial buildings, the ability to use engineered wood for framing, sheathing, flooring, and other applications makes it a versatile choice for builders and architects. Engineered wood contributes to earning green building certifications, such as Leadership in Energy and Environmental Design (LEED). The recognition of these certifications incentivizes the use of engineered wood in construction projects across Canada. Canada's vast forest resources position wood as a renewable and abundant resource. Engineered wood products contribute to sustainable forestry practices by utilising wood fibres efficiently and supporting responsible forest management. Urbanisation trends and the demand for housing fuel the need for efficient and sustainable building materials. Engineered wood products, with their adaptability and eco-friendly attributes, support the construction of residential and commercial structures in urban areas. Government initiatives promoting sustainable construction practices and regulations favouring environmentally friendly materials contribute to the demand for engineered wood. Compliance with these initiatives further propels the adoption of engineered wood in the Canadian construction sector. Increasing awareness among consumers about the environmental impact of construction materials influences their preferences. Engineered wood, being a sustainable and high-performing option, aligns with the changing preferences of environmentally conscious consumers. Based on the product types, they are segmented into plywood, medium density fiberboard, oriented strand boards (OSB), particle board, and others. Among them, medium density fiberboard is significantly contributing to the market; the furniture industry is a significant contributor to the growing demand for MDF in Canada. Its suitability for furniture components, such as panels, shelves, and drawer fronts, has led to increased adoption by furniture manufacturers looking for a reliable and cost-effective material. Furthermore, the MDF's versatility has spurred innovation in design and construction. Architects and designers leverage its properties to create modern and aesthetically pleasing structures, contributing to its growing popularity in residential and commercial projects. The manufacturing process of MDF involves breaking down wood fibres and reconstituting them with adhesive under heat and pressure. This efficient process results in minimal waste compared to traditional lumber production, aligns with sustainability goals, and reduces environmental impact. In terms of the applications of construction, furniture, flooring, packaging, and others, among them, flooring is contributing a significant market share; engineered wood flooring offers the timeless and natural beauty of real wood. The varied grain patterns, rich colours, and authentic textures contribute to its aesthetic appeal, providing a warm and inviting ambiance in residential and commercial spaces. The construction of engineered wood flooring, featuring a layered structure, enhances its stability and ease of installation. Many engineered wood flooring options come with click-lock or tongue-and-groove systems, simplifying the installation process and making it suitable for both professionals and DIY enthusiasts. Many engineered wood flooring products in Canada are manufactured using sustainable and eco-friendly practices. Some options incorporate recycled wood fibres or are sourced from responsibly managed forests, appealing to environmentally conscious consumers. According to the report, the end users are segmented into residential and commercial spaces. In Canada, commercial spaces are a growing market. Engineered wood can be easily customised to achieve unique patterns, colours, and finishes, allowing businesses to create a branded and distinctive atmosphere. Commercial spaces prioritise flooring materials that are easy to maintain and clean. Engineered wood flooring is generally easy to care for, requiring routine maintenance such as sweeping and occasional mopping. This ease of maintenance is advantageous for busy commercial environments. In Canada's colder climate, the compatibility of engineered wood with underfloor heating systems is a significant advantage. The stable construction of engineered wood allows for efficient heat transfer, providing a comfortable and energy-efficient solution for commercial spaces. Many businesses in Canada prioritise sustainability in their operations. Engineered wood, especially when sourced from responsibly managed forests and certified by environmental standards, aligns with corporate sustainability goals. This makes it an attractive choice for environmentally conscious commercial end-users. Considered in this report: • Geography: Canada • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029

Aspects covered in this report: • Canada Engineered Wood market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Types • Plywood • Medium Density Fiberboard • Oriented Strand Boards (OSB) • Particle Board • Others By Application: • Construction • Furniture • Flooring • Packaging • Others

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Manmayi Raval

Research Consultant

By End User: • Residential • Commercial & Industrial The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Engineered Wood, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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