Allied Market Research recently released a report stating the engineered wood market is projected to grow at a compound annual growth rate of 24.8% from 2016 to 2022. The market is expected to reach more than $40 billion by 2022.

Engineered wood, also known as composite wood, consists of various wood products made by joining veneers, particles, fibers, and strands of wood with adhesives to form a man-made composite material. It includes a variety of products ranging from plywood to roof trusses.

Some key findings:

• Europe and North America have introduced green building standards which have enforced the development of certified wood products that are linked with low emission levels.
• The engineered wood market is expected to witness significant growth in the coming years with the introduction of cross-laminated timber (CLT) as a mega structuring material and steady growth of engineered wood market size in Asia-Pacific, Latin America, Middle East, and Africa.
• Cost effectiveness and high sustainability are the major factors driving the engineered wood market.
• There is a need to reinvent construction methods, without harming the environment; this can be achieved by the use of engineered wood over emission-intensive materials such as concrete, steel, or aluminum to minimize greenhouse gas emissions. Engineered wood, offers the same benefits.
• Europe is on a continuous rise, in both imports and exports of engineered wood products. It is the market leader with the presence of major market players in the region. The European engineered wood market players mainly produce glulam and plywood. They have achieved their market share based on their ability to provide one-stop shop which includes design, manufacture and installation of these products.
• Spending on non-residential construction is expected to increase in the near future owing to growth in CLT, which is utilized in mega-structures such as bridges and multi-story buildings.

www.alliedmarketresearch.com/engineered-wood-market

The Royal Architectural Institute of Canada (RAIC) is accepting submissions for the 2017 Moriyama RAIC International Prize. The prize, which was established in 2014 by Canadian architect Raymond Moriyama along with the RAIC and the RAIC Foundation, consists of a monetary award of CAD $100,000 and a handcrafted sculpture designed by Wei Yew. The prize celebrates a single work of architecture that is judged to be transformative within its societal context and reflects Moriyama’s conviction that great architecture transforms society by promoting social justice and humanistic values of respect and inclusiveness. The prize, awarded every two years, is open to all architects, irrespective of nationality and location. The winner is selected in an open, juried competition. In 2014, the inaugural winner of the Moriyama RAIC International Prize was Li Xiaodong, of China, who will sit on the 2017 jury. All submissions are due by March 8, 2017 and the winner of the 2017 Prize will be announced on September 19, 2017.

https://moriyama.raic.org