The expanding global engineered timber market
Market research provider Fact.MR has announced that the global engineered wood market is expanding, with the market estimated at $24.86 billion and expected to reach $61.61 billion by the end of this year.
It is experiencing rapid growth due to its advantages over traditional solid wood, including enhanced strength, stability, and sustainability.
The global engineered wood market is expected to grow at a CAGR of 9.5% during the forecast period of 2023 to 2033.
The demand for glued wood engineered wood products is expected to grow at a CAGR of 10.5% over the next decade.
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