The gradual growth experienced by the engineered-wood product segment during 2012 is expected to continue through 2013, the category's leading North American industry group announced April 23, riding on gains in single-family and multifamily new construction and remodeling.
"Last year saw across-the-board increases in structural panels, I-joists, glulam, and LVL. In 2013, not only will that trend continue, but at a slightly faster pace in most cases," Craig Adair, market research director at APA-The Engineered Wood Association, said in a release. "Residential construction will drive much of that growth, with pent-up demand for housing, moderately rising home prices, and growing customer confidence having the most influence."
In its 2013 market outlook, APA-The Engineered Wood Association forecasts growth in all four product categories it represents. OSB and plywood production is expected to increase 10% in 2013 from 2012 to reach 30.5 billion square feet. Single-family construction and remodeling will drive glulam production up 10% over 2012 to total 248 million board feet. LVL will base its gains off of new housing starts, the association reports, rising 10% from a year earlier to reach 54.9 million cubic feet this year. Despite gains from an increase in raised-floor construction in residential markets, the I-joist segment is expected to slow to 17% growth over 2012 from that year's 22% growth over 2011.