Reclaimed lumber is processed wood retrieved from its original application for purposes of subsequent use. Most reclaimed lumber comes from timber and decking rescued from old barns, factories and warehouses, although some companies use wood from less traditional structures such as boxcars, coal mines and wine barrels. Reclaimed or antique lumber is used primarily for decoration and home building, for example for siding, architectural details, cabinetry, furniture and flooring. Reclaimed wood is high-quality upcycled wood that’s been taken from various sources like, factories, old barns, retired ships, stock farms, warehouses, wine casts and others. The majority of demolition contractors recover wood recovered from old constructions, due to the growing need for the products in the market.
COVID-19 scenario analysis:
COVID 19 Scenario
The COVID-19 has extremely affected the economy in the world in a negative wat, hence the reclaimed lumber market also got affected abruptly and experienced a slowdown in the generation of revenue. There were strict regulations by governments of various countries, which caused reduction in demand for reclaimed lumber in the current scenario. Furthermore, industries are focusing on innovations during the lockdown situation, such that it could help gain attention of majority of the players during the forecast period.
Top impacting factors: Market Scenario Analysis, Trends , Drivers and Impact Analysis
The key factors affecting the industry include the surge in penetration of products into the construction industry due to excellent availability and properties such as increased durability and strength is anticipated to propel market growth during the forecast period. The increase in interest in green building materials would boost the market growth. Furthermore, surge in the awareness regarding the product's environmental benefits propelling the product demand, which is estimated to fuel the market growth in the next few years. The U.S. government imposed heavy tariffs on imported softwood lumber from Canada, which led to a softwood lumber trade dispute between them. The increase in the price of reclaimed lumber than virgin wood and lack of technological innovations negatively impact the overall market growth.
The global reclaimed lumber market trends are as follows:
New product launches to boost the reclaimed lumber market
The major companies are focusing on the up gradation according to the need in the market in the coming years. For instance, in November 2019, AZEK Building Products announced the complete lineup of innovative decking and railing solutions to launch in 2020. AZEK is launching new products in its TimberTech AZEK, TimberTech PRO, and TimberTech EDGE decking lines as well as in its composite railing collections.
TimberTech continued to expand its Multi-Width Decking offerings with two new 7.25" wide width boards in the Harvest Collection; Brownstone and Slate Gray. This enables faster installation and complements the existing Vintage Collection Multi-Width Decking portfolio, which includes 3.5", 5.5" and 7.25" width boards in all six Vintage colors. MAX boards are also new to TimberTech AZEK, offering a 1.5'' thickness, ideal for boardwalks, docks, and more. They're available in two beautiful grays: Coastline from the Vintage Collection and Slate Gray from the Harvest Collection.
Surge in mergers and acquisitions to boost adoption of reclaimed lumber
The major players are focusing over the mergers and acquisitions such that the majority of population give attention to it and improvise the revenue generation during the forecast period. For instance, in January 2020, USA Millwork acquired Mission Bell, a manufacturer of architectural woodwork in Northern California, to provide entrepreneurs and engineers with highly advanced capabilities, capacity, and practices on its national platform going into full expansion mode.
The acquisition makes the number of USA Millwork plants from coast to coast to five, with a total manufacturing footprint of nearly 400,000 square feet. Mission Bell, a manufacturer of architectural woodwork located in Morgan Hill, California, was founded in 1959 and is known for its high-level work for technology companies, hospitals and universities.
Key benefits of the report:
- This study presents the analytical depiction of the global Reclaimed Lumber industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Reclaimed Lumber market share.
- The current market is quantitatively analyzed to highlight the global Reclaimed Lumber market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global reclaimed lumber market analysis based on competitive intensity and how the competition will take shape in coming years.
Reclaimed Lumber Market Report Highlights
By End User
Key Market Players
Imondi Flooring, Longleaf Lumber, Inc., G R Plume Company and Wood Ltd., Jarmak Corporation, Recycling the Past, LLC, Carpentier Hardwood Solutions NV, Atlantic Reclaimed Lumber, LLC, Elmwood Reclaimed Timber, Vintage Timberworks, Inc.