Thus, bamboo engineered wood market demand is anticipated to increase steadily during the forecast period, led by the expansion in residential and commercial sectors. It can also be used in the manufacture of products such as engineered structural components and acoustic and structural panels. Currently, development of bamboo wood as sustainable, cost-effective, and environmentally-responsible alternative construction material is gathering momentum across the globe.īamboo engineered wood can be used as an alternative to construction materials for applications such as scaffolding, roofing, and framing elements.
It is also a sustainable resource and possesses properties similar to timber. It is easily renewable and a versatile building material. This is likely to lad to market expansion.Īs a construction material, bamboo engineered wood offers several advantages. Therefore, companies in the construction sector are shifting toward sustainable products by adopting environmentally-friendly materials such as engineered bamboo flooring and bamboo engineered hardwood. This is boosting market progress.Īs per a recent report, the construction sector accounts for 23% of air pollution, 50% of climate change, 40% of water pollution, and 50% of landfill waste. Surge in urbanization is accelerating the standard of living in these countries. Rise in Adoption of Eco-friendly Building and Construction Materials to Augment Bamboo Engineered Wood Market Sizeīamboo engineered wood is used extensively in the building & construction sector, which has been expanding steadily in developing countries such as India, China, and those in Africa. Furthermore, bamboo engineered wood entails low maintenance cost. Bamboo engineered wood is easier to clean therefore, it is ideal for residential flooring. It is one of the most durable engineered wood. This engineered wood offers sheen and luxurious finish without any adverse environmental impact. Engineered bamboo flooring is typically used in residential and commercial applications such as apartments, shopping malls, and departmental stores, as it does not expand or shrink akin to other wood during seasonal changes.
They are also engaged in mergers and acquisitions and partnerships in order to increase their bamboo engineered wood market share.īamboo engineered wood is made of bamboo, which is a product type of grass. Key bamboo wood flooring manufacturers are focusing on R&D activities to introduce innovative products to enhance their product portfolios. This is anticipated to boost market statistics. This engineered bamboo wood has the potential to be used as an alternative to conventional building and construction materials due to its mechanical and tensile strength, elasticity, cost-effectiveness, and sustainability. Bamboo engineered wood is environmentally-friendly, natural, and stronger than hardwood. Rapid growth in the construction industry and increase in demand for eco-friendly alternatives to hardwood flooring are projected to drive the global bamboo engineered wood market value during the forecast period. It is estimated to grow at a CAGR of 5.0% from 2023 to 2031 and reach US$ 40.7 Bn by the end of 2031.The global industry was valued at US$ 25.0 Bn in 2022.Bamboo Engineered Wood Market Outlook 2031
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