Reclaimed Lumber Market Poised for Rapid Growth Driven by Sustainability Trends and Asia Pacific Construction Boom
• Reclaimed lumber market projected to grow from $55.72 billion in 2023 to $98.10 billion in 10 years, driven by rising environmental awareness and demand for sustainable building materials.
• Asia Pacific expected to see highest CAGR of 7.83% over forecast period due to rapid urbanization, population growth, and expansion of construction projects in the region.
• Flooring segment anticipated to register highest CAGR of 9.27% over forecast period as reclaimed lumber is commonly used for flooring applications.
• Residential segment projected to see highest CAGR of 8.28% over forecast period, driven by demand for reclaimed lumber for applications like cabinets, flooring, framing, etc.
• Key players operating in the market include Carpentier Hardwood Solutions, TerraMai, Elemental Republic, Trestlewood, Beam and Board, and Vintage Timberworks.