Reclaimed Lumber Market Size, Share & Trends Report

Reclaimed Lumber Market Size, Share & Trends Analysis Report By Application (Furniture, Beams & Boards), By End-use (Commercial, Residential), By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Nov, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-2-68038-802-2
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 94

Report Overview

The global reclaimed lumber market size was valued at USD 51.07 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 3.7% from 2020 to 2027. Rising interest in green building materials and growing awareness regarding the product's environmental benefits are resulting in increased product demand, which is projected to augment the market growth over the forecast period. The U.S. government imposed heavy tariffs on imported softwood lumber from Canada, which led to a softwood lumber trade dispute between them. Moreover, the higher price of reclaimed lumber than virgin wood and lack of technological innovations negatively impact the overall market growth.

China reclaimed lumber market size, by application, 2016 - 2027 (USD Billion)

China, a significant market for reclaimed lumber in Asia Pacific, is expected to witness substantial growth over the forecast period. China is projected to witness a high demand for reclaimed lumber due to its vast wood-based construction industry and increasing awareness regarding reducing greenhouse gas emissions.

The demand for reclaimed lumber is presumed to be driven by growing environmental awareness and burgeoning demand for reclaimed lumber products, such as flooring, paneling and siding, furniture, and architectural millwork, owing to their durability and aesthetics.

Product manufacturers are engaged in manufacturing value-added secondary products, including flooring, siding, panels, mantels, cabinets, antique furniture, and architectural millwork, such as wooden crafts. Key factors influencing the product price at this stage include raw material availability, product quality, delivery timelines, and proximity to customers.

The commercial segment emerged as the dominant end-use segment and occupied a substantial revenue share in 2019. The segment is expected to expand at a significant CAGR over the forecast period owing to high demand for several commercial sector applications, including flooring, wall coverings, tabletops, seats, bar tops, and light fixtures.

Application Insights

The furniture application segment held the largest revenue share of 31.2% in 2019 and is projected to witness significant growth over the forecast period. High demand for antique furniture due to its unique design is expected to fuel the segment growth over the forecast period. It is one of the critical applications of reclaimed lumber, which is gaining a lot of momentum in Asia, owing to the patina and pedigree it offers.

The market is bifurcated based on application into flooring, paneling, beams and boards, furniture, and others. Other applications of reclaimed lumber include small item manufacturing and architectural millwork. The global market exhibits substantial growth due to the product’s superior characteristics, including sustainability, strength, durability, and stability.

The market is expected to witness sustainable growth in the years to come owing to the increasing demand for energy-efficient construction solutions. The energy requirement and CO2 emission during the manufacturing of flooring from virgin wood are higher than those of reclaimed wood. Hence, rising awareness regarding sustainable construction is anticipated to boost the product demand further.

The global market has witnessed significant growth and is projected to maintain its pace over the forecast period. Increasing use of reclaimed lumber in products associated with cross-laminated timber, and the inclination of architectures, developers, and engineers towards tall wooden buildings with the aim of reducing carbon footprint in the environment, are expected to boost demand for reclaimed lumber.

End-use Insights

In terms of end-use, the market for reclaimed lumber is majorly segmented into residential, commercial, and industrial. The commercial end-use segment held the largest revenue share of 57.4% in 2019 and is projected to witness significant growth in the years to come. The retail sector represents the most robust growth and is expected to dominate the reclaimed lumber market, followed by the residential sector.

Reclaimed lumber is a mainstream trend in the commercial sector owing to many restaurants sporting a rustic look. The product finds usage in several commercial sector applications, including flooring, wall covering, bar tops, tabletops, light fixtures, and seats. Restaurants, pubs, resorts, retail outlets, and office spaces are the leading end-use sectors for reclaimed lumber.

Global reclaimed lumber market share

The residential and industrial uses of reclaimed lumber are projected to witness moderate growth over the forecast period. Reclaimed lumber is a sustainable and aesthetically pleasing material that is used in residential applications to incorporate texture. However, increasing preference for sustainably harvested wood for residential construction owing to its low cost may hamper the residential segment growth over the forecast period.

The industrial applications of reclaimed lumber include custom-made doors as well as windows and structurally efficient components, including roof trusses, flat trusses, I-beams, box beams, and I-posts. The applications also encompass beams, boards, and columns for industrial buildings or warehouses, which can be used as wall panels or floor slabs.

Regional Insights

Europe dominated the market and accounted for over 41.0% share of the global revenue in 2019. The European market has witnessed significant growth in construction activities, which is anticipated to boost product demand over the forecast period.

North America held a significant market share in 2019 due to the growing housing sector in the region and increasing awareness regarding green buildings. As reclaimed lumber does not include cutting forests, which helps in preserving wildlife species, the product demand is expected to remain high in the future. The U.S. accounted for the largest revenue share in the North American market due to its growing population, construction activities, and increasing raw material availability.

Asia Pacific is expected to witness the fastest growth in the forecast period owing to the increasing awareness regarding the use of salvaged wood and the massive potential of the construction industry in the region. The construction industry in Asia Pacific is expected to outperform on account of increasing per capita income, rapid urbanization, and the growing population. 

The rest of the world, including Brazil and South Africa, is expected to witness substantial growth in the demand for wood-based furniture and other household accessories owing to a boost in the region's residential construction activities. Increased demand for salvaged lumber for interior decoration is anticipated to bolster the market growth in the region.

Key Companies & Market Share Insights

Key market players put a high emphasis on product availability, including product line and consistency of supply, and delivery schedule, which includes the ability to ship the product and meet the timelines promptly. These factors are expected to influence demand. Several companies are entering the market owing to the growing market potential due to the expanding construction industry.

The majority of the market players have limited geographical scope, which allows them to maintain long-term relationships with consumers to widen their customer base and protect them from the competition in a particular region. The market is characterized by a significant consumer base across the globe, with the companies operating their businesses through dedicated distribution networks. Some prominent players in the global reclaimed lumber market include:

  • Longleaf Lumber, Inc.

  • Vintage Timberworks, Inc.

  • Atlantic Reclaimed Lumber, LLC

  • Carpentier Hardwood Solutions, NV

  • Imondi Flooring

  • TerraMai

  • Jarmak Corporation

  • Elemental Republic

  • Elmwood Reclaimed Timber

  • Olde Wood Ltd.

  • Trestlewood

  • Montana Reclaimed Lumber Co.

  • True American Grain Reclaimed Wood

  • Beam and Board, LLC

  • Altruwood

Reclaimed Lumber Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 50.40 billion

Revenue forecast in 2027

USD 68.47 billion

Growth Rate

CAGR of 3.7% from 2020 to 2027

Market demand in 2020

552.87 million sq. m.

Volume forecast in 2027

694.47 million sq. m.

Growth Rate

CAGR of 2.6% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Volume in million sq. m., revenue in USD million/billion, and CAGR from 2020 to 2027

Report coverage

Volume forecast, revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Application, end-use, region

Regional scope

North America; Europe; Asia Pacific; Rest of the World

Country scope

U.S.; Canada; Germany; U.K.; France; Russia; China; Japan; Brazil; South Africa

Key companies profiled

Longleaf Lumber, Inc.; Vintage Timberworks, Inc.; Atlantic Reclaimed Lumber, LLC; Carpentier Hardwood Solutions, NV; Imondi Flooring; TerraMai; Jarmak Corporation; Elemental Republic; Elmwood Reclaimed Timber; Olde Wood Ltd.; Trestlewood; Montana Reclaimed Lumber Co.

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Segments Covered in the Report

This report forecasts volume and revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global reclaimed lumber market report on the basis of application, end-use, and region:

  • Application Outlook (Volume, Million Sq. m.; Revenue, USD Million, 2016 - 2027)

    • Flooring

    • Paneling

    • Beams & Boards

    • Furniture

    • Others

  • End-use Outlook (Volume, Million Sq. m.; Revenue, USD Million, 2016 - 2027)

    • Residential

    • Commercial

    • Industrial

  • Regional Outlook (Volume, Million Sq. m.; Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Russia

    • Asia Pacific

      • China

      • Japan

    • Rest of the World

      • Brazil

      • South Africa

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