Reclaimed Lumber Market Size was valued at USD 50.92 Billion in 2023. The reclaimed lumber industry is projected to grow from USD 53.47 Billion in 2024 to USD 75.24 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.36% during the forecast period (2024 - 2032). The construction industry's continued growth, consumers' growing acceptance of reclaimed goods as a result of rising environmental consciousness, and supportive government initiatives in numerous nations to encourage the use of processed materials to achieve green building are the main market drivers boosting the steady growth of the market for reclaimed lumber.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The market CAGR for reclaimed lumber is anticipated to continue rising due to the construction industry's expansion. Due to the quickening industry and urbanization, construction activities have increased. Reclaimed lumber is in high demand for the construction of homes and businesses as a result of these construction activities. Used in a variety of construction tasks, reclaimed lumber is sturdy, steady, and long-lasting. For instance, the investment in building development went from $14294 million in April 2019 to $19273 million in 2020, as reported in a report by Statistics Canada's national statistical agency in June 2021. The 2022 U.S. Constructing Cost Trends report also shows an increase in residential building, which will continue to increase the demand for labor and materials, intensify competition, and put pressure on costs. Since the pandemic's beginning, total construction investment in the US has climbed by 16%. The market for reclaimed lumber is therefore rising due to the expanding construction industry.
Additionally, growing government efforts to promote green construction will boost demand for flooring, which will eventually boost the market for recovered lumber. While the UK government introduced a program named "The Green Homes Grant" in September 2020. This program aims to assist homeowners by covering the cost of eco-friendly house upgrades and enhancing energy efficiency. To assist householders in making environmentally friendly home modifications, the government would provide two-thirds funding up to $6500 (£5,000 or £10,000) (for low-income families).
However, to enhance their nations, governments all around the world are focusing on modernizing their infrastructure. For instance, the DPIIT revealed that between April 2000 and June 2020, India's infrastructure activities sectors received FDI inflows of USD 25.69 billion and USD 16.97 billion, respectively. These investments have in the past and will continue to do so to support the growth of the construction industry. The expanding building industry is also anticipated to fuel the expansion of the world market for salvaged wood. Some of the crucial tactics business players use to keep a competitive edge in the salvaged lumber market include mergers and acquisitions.
Furthermore, a crucial trend that is becoming increasingly popular in the reclaimed lumber market is product innovation. Major market participants are creating cutting-edge products to maintain their position in the reclaimed lumber market. For instance, a unique, limited-edition dining table made of waste wood was created in July 2022 by Studio HENK, a Dutch furniture firm, in collaboration with Renewi, a UK-based waste management company specializing in reclaimed lumber goods. This dining table was fashioned with salvaged wood from old Amsterdam canal homes that was discovered on the street and is entirely comprised of reclaimed coniferous wood. Thus, driving the reclaimed lumber market revenue.
Urban Machine is a robotics firm for green building conversion by Oct 2023. The organization’s mission involves turning the enormous amount of crushed wood from construction and demolition sites into locally derived and mass-produced top-grade lumber.
Longleaf put forward a line of recycled or reclaimed chestnut wood in 2023. The color options range from dark chocolate to latte.
The owners of Worldwide Steel announced in 2023 that they were looking forward to acquiring Elmwood Reclaimed Timber.
Mountain Pine Manufacturing announced plans for further development of an innovative reclaimed wood production facility in Moffat County, USA, in March 2023.
The reclaimed lumber market segmentation, based on application includes furniture, flooring, paneling & siding and beams. The furniture segment dominated the market. In the upcoming years, increased demand for vintage and custom furniture is anticipated to drive market expansion for reclaimed lumber. The market from the residential sector is stimulated by the industry's extensive selection of customized items.
The reclaimed lumber market segmentation, based on end user, includes commercial construction, residential construction and industrial. The commercial construction category generated the most income. Reclaimed wood is viewed in the commercial sector as more of a specialty item than a workable alternative for large-scale wood flooring and siding projects. Additionally, due to its versatility in finish and color, oak is the most preferred option for salvaged wood, especially flooring.
USA Millwork completed the acquisition of Mission Bell in January 2020, a reputable architectural millwork manufacturer based in Northern California. This strategic acquisition increases USA Millwork's national platform for contractors and engineers with additional capacity, expanded capabilities and exposure to industry-leading practices. With Mission Bell joining in, USA Millwork now operates out of five locations throughout the US, covering almost four hundred thousand square feet of roof space manufacturing-wise.
Figure 1: Reclaimed Lumber Market by End User, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. Europe reclaimed lumber market area will dominate this market. Major economies like the United Kingdom and Germany bring in a lot of money for the area. The market for reclaimed lumber is being further boosted by the rapidly expanding residential sector and beneficial government regulations.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: RECLAIMED LUMBER MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
North America reclaimed lumber market accounts for the second-largest market share because of growing public knowledge of its dependability, aesthetics, and price in uses including furniture, flooring, and structural lumbers. Due to rising commercial industry demand for specialized lighting and interior decorating applications in places like offices, retail, and hospitality, the U.S. dominates the regional market for reclaimed lumber in North America. Further, the US reclaimed lumber market held the largest market share, and the Canada reclaimed lumber market was the fastest growing market in the region
The Asia-Pacific Reclaimed lumber Market is expected to grow at the fastest CAGR from 2023 to 2032 a result of the enormous potential for the construction industry and the growing worries about the use of reclaimed lumber. The market for reclaimed lumber is also expected to develop as a result of other causes, including quick urbanization, rising per capita income, and rising population. Moreover, China’s reclaimed lumber market held the largest market share, and the Indian reclaimed lumber market was the fastest growing market in the Asia-Pacific region.
The ‘Green Homes Grant program’ was launched by the UK government in September 2020, targeting energy-efficient improvements for homes located within residential areas. This will help homeowners financially when they want their houses sustainable or even reduce their carbon footprints. In order to save, such an initiative is expected to drive up demand for reclaimed lumber within the country.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the reclaimed lumber market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, reclaimed lumber industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the reclaimed lumber industry to benefit clients and increase the market sector. In recent years, the reclaimed lumber industry has offered some of the most significant advantages to market. Major players in the reclaimed lumber market attempting to increase market demand by investing in research and development operations include Longleaf Lumber Inc, Altholz - Baumgartner & Co GmbH, A/S Lumber, Viridian Reclaimed Wood, MONTANA RECLAIMED LUMBER Co., IMONDI FLOORING, Fine Lumber Co, T. MOORE MANUFACTURING INC, TerraMai, reSAWN LUMBER co., Vintage Lumberworks Inc and Sustainable Lumber Company.
The largest manufacturer of antique Heart Pine items in the world is E.T. Moore Manufacturing Incorporated, which was founded in 1969. Reclaimed wood is used in the goods made by ET Moore Manufacturing Inc. recovered wood flooring, recovered lumber, wood panels, and other related goods are available from the company. Customers of ET Moore Manufacturing are located throughout Virginia. E.T. Moore brings back the splendor of this cultural inheritance for residences, businesses, dining establishments, public structures, and historical foundations. As "America's only Heart Pine specialist," they handpick and choose only the finest materials and provide complete customization to meet the desires of the client.
Imondi was established on the tenet that making a product that is completely in tune with its surroundings can assist to alter lives. Imondi, the first British-owned flooring producer in Asia, is the definition of attention to detail. By comprehending the goals and demands of its customers and incorporating creativity and innovation, its handcrafted floors have changed the course of their companies' operations. They have established a practice where design, technology, and research assure that the highest-quality materials from certified, sustainably managed forests are provided to residential, hotel, and retail projects in more than 25 countries worldwide.
Altholz - Baumgartner & Co GmbH
A/S Lumber
Viridian Reclaimed Wood
IMONDI FLOORING
Fine Lumber Co
T. MOORE MANUFACTURING INC
TerraMai
reSAWN LUMBER co.
Vintage Lumberworks Inc
Reclaimed Lumber Application Outlook (USD Billion, 2018-2032)
Furniture
Flooring
Paneling & Siding
Beams
Reclaimed Lumber End User Outlook (USD Billion, 2018-2032)
Commercial Construction
Residential Construction
Industrial
Reclaimed Lumber Regional Outlook (USD Billion, 2018-2032)
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 50.92 Billion |
| Market Size 2024 | USD 53.47 Billion |
| Market Size 2032 | USD 75.24 Billion |
| Compound Annual Growth Rate (CAGR) | 4.36% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Longleaf Lumber Inc, Altholz - Baumgartner & Co GmbH, A/S Lumber, Viridian Reclaimed Wood, MONTANA RECLAIMED LUMBER Co., IMONDI FLOORING, Fine Lumber Co, T. MOORE MANUFACTURING INC, TerraMai, reSAWN LUMBER co., Vintage Lumberworks Inc and Sustainable Lumber Company |
| Key Market Opportunities | Increased demolition of existing structures for reconstruction |
| Key Market Dynamics | Expanding construction sector |
Reclaimed Lumber Market Highlights:
Frequently Asked Questions (FAQ) :
The reclaimed lumber market size was valued at USD 50.92 Billion in 2023
The market is projected to grow at a CAGR of 4.36% during the forecast period, 2024-2032
Europe had the largest share in the market
The key players in the market are Longleaf Lumber Inc, Altholz - Baumgartner & Co GmbH, A/S Lumber, Viridian Reclaimed Wood, MONTANA RECLAIMED LUMBER Co., IMONDI FLOORING, Fine Lumber Co, T. MOORE MANUFACTURING INC, TerraMai, reSAWN LUMBER co., Vintage Lumberworks Inc and Sustainable Lumber Company
The furniture category dominated the market in 2023
The commercial construction category had the largest share in the market
Research Analyst Harshita post graduate mba in business administration from welingkar institute, mumbai and 5 years of experience in the field of product market research. as a research analyst, i have cross-domain experience in packaging, and industrial automation & equipment. i am currently looking after the research process of packaging, logistics & transportation, and industrial automation & equipment at market research future reports. my responsibilities at the organization involve handling syndicate and custom reports as well as responding to client inquiries, and organize, co-ordinate with a group of 5 to 6 persons to manage all workflows.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
