NEW YORK CITY — Reports and Data, a market research and consulting company, announced that the global lumber market size is expected to reach $85.32 billion in 2032. The market is rising at a CAGR of 5% during the forecast period.

The rising demand for eco-friendly building materials and awareness of sustainable construction are driving market growth. Reclaimed timber is sustainable and adds historical character to a final project. 

One reason for the rising demand for wood is its aesthetic attraction, durability and price. Fresh wood does not have the same aesthetic attraction that aged wood has from natural aging and weathering. Since recycled timber is noted for its strength and permanence, it is a popular choice for builders and architects when making long-lasting structures. 

The COVID-19 pandemic had a slight negative impact on the market in 2020, due to the halt in commercial and industrial manufacturing. Disruptions in production and supply chain led to a decreased demand among residential consumers specifically. After the pandemic, the market became steadier as industry experts anticipated, but the negative impact is predicted to last. 

In 2019, flooring emerged as the dominant force in the market holding a 30.7% share of total volume. This is due to the strong demand for visually appealing and long-lasting products in residential and commercial areas. 

The commercial sector is projected to be the fastest-growing area during the forecast period, since there is a consumer preference for rustic appearance and unique design for applications including flooring, wall coverings, tabletops and light fixtures. 

The increasing demand for structural application products in Europe is expected to drive regional growth. Examples of these are cross-laminated timber and glue-laminated timber. 

Within the market, a significant trend is the increased integration of companies across the value chain. This convergence can be shown between deconstruction contractors and distribution entities. On the other hand, product manufacturers show backward integration towards the processing stage. 

Key market players 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, GR Plume Company, Olde Wood Ltd. and more. 

Notable innovations within the reclaimed lumber market include 3D printing, composite materials within wood, nanotechnology for wood preservation, smart integration for reclaimed wood and modular reclaimed wood systems. 

For more information and to request a copy of the research report, visit reportsanddata.com.