I-Joist Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, Germany, China, UK, Canada, France, India, Brazil, Japan, The Netherlands - Size and Forecast 2024-2028

I-Joist Market Size 2024-2028

The I-joist market size is forecast to increase by USD 1.27 billion at a CAGR of 6.4% between 2023 and 2028.

• The market is experiencing significant growth due to several key factors. One major trend is the increasing demand for eco-friendly construction materials, leading companies to introduce new energy-efficient I-Joist products. In flooring applications, I-Joists offer design flexibility and ease of installation, making them a popular choice for both residential and commercial projects. Additionally, the integration of smart home technologies and the development of smart cities are driving the adoption of I-Joists in roof framing and wall studs. Overall, the market is expected to continue expanding as these trends gain momentum. However, competition from alternative framing solutions remains a challenge for market growth.

What will be the Size of the Market During the Forecast Period?

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• I-joists have gained significant traction in the construction industry, offering numerous benefits for both residential and commercial projects. These structural elements are essential for floors, roofs, and walls, providing enhanced load-bearing capacity and structural integrity. In the realm of modern construction, I-joists play a pivotal role in various applications, including modular and prefabricated construction. They enable faster installation processes, contributing to the efficiency of urban development projects, such as smart cities and multi-story buildings. The construction sector and real estate sector have embraced engineered wood I-joists due to their versatility and performance. In residential buildings, they are used for flooring installation, roof framing, and wall studs, ensuring structural soundness and fire resistance. In commercial buildings, they serve as load-bearing rafters, providing the necessary support for heavy roofs and large structures.

• Fire-resistant coatings are often applied to I-joists to enhance their safety features, making them an ideal choice for both residential and commercial projects. These coatings help prevent the spread of fire, contributing to the overall safety and structural integrity of the building. The global market for engineered wood I-joists is thriving, driven by the increasing demand for sustainable and efficient construction solutions. The use of I-joists in construction is expected to continue growing as the industry shifts towards more advanced and eco-friendly building methods. I-joists are available in various materials, including plastic and metal, catering to diverse project requirements. Their adaptability and high load-bearing capacity make them a popular choice for renovating residential spaces and constructing new buildings.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Material
  • Wood based
  • Composite
• Application
  • Residential
  • Commercial
  • Industrial
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
    • India
    • Japan
  • South America
    • Brazil
  • Middle East and Africa

By Material Insights

• The wood based segment is estimated to witness significant growth during the forecast period.

I-Joists, characterized by their I-shaped design consisting of two flanges made from lumber or engineered wood and a web of structural panels, represent a significant segment in the international market. These engineered wood products are widely utilized in floor and roof assemblies due to their superior strength-to-weight ratio, which surpasses that of conventional solid-sawn lumber. The adoption of I-joists for applications such as floor joists and roof rafters leads to a substantial reduction in the amount of lumber required, thereby improving structural performance and resource conservation. The market growth for wood based I-joists is fueled by the increasing demand for sustainable and efficient building materials.

Further, architects and builders are increasingly turning to these engineered products for their durability, ease of installation, and environmental benefits. Additionally, the versatility of I-joists allows them to be used in various applications, from residential renovations to commercial construction projects. The use of plastic and metal connectors in I-joist assemblies further enhances their structural integrity and resistance to weather conditions. In summary, the market is witnessing steady growth due to the advantages offered by these engineered wood products. Their superior strength-to-weight ratio, resource efficiency, and versatility make them an attractive alternative to traditional timber products for a wide range of applications.

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The Wood based segment was valued at USD 2.15 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• North America is estimated to contribute 46% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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In North America, the engineered wood market, specifically I-joists, experiences notable growth due to the thriving construction sector and substantial investments in new projects. According to recent data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, there was an 8.6% increase in construction permit issuances in the United States in January 2024, with a total of 1,470,000 permits. This increase signifies the growing demand for new residential and commercial buildings, which in turn necessitates the use of I-joists for their structural benefits and efficiency. The demand for I-joists is further fueled by the housing shortage in the United States. To meet this demand, builders are turning to I-joists for their load-bearing capacity, fire-resistant coatings, and overall structural integrity, making them an essential component in modern construction projects.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of I-Joist Market?

Growing emphasis on eco-friendly construction materials is the key driver of the market.

• The market in the commercial real estate sector is experiencing growth due to the rising preference for eco-friendly construction materials. Engineered wood I-joists are a popular choice due to their reduced environmental impact compared to traditional solid wood beams. The manufacturing process of I-joists is engineered to utilize fewer raw materials and optimize structural efficiency, thereby conserving timber resources and minimizing waste. This commitment to sustainable sourcing and responsible forestry practices resonates with builders and architects who prioritize environmental consciousness.

• Moreover, buildings constructed with I-joists offer energy efficiency benefits, contributing to broader sustainability initiatives. The lightweight design of I-joists reduces the energy consumption for transportation and installation. The use of I-joists in commercial projects, including modular and prefab construction, as well as infrastructure projects, streamlines logistics and supply chain management in the construction industry.

What are the market trends shaping the I-Joist Market?

The introduction of new products by companies is the upcoming trend in the market.

• The market is experiencing growth due to innovative product offerings from companies. This hybrid joist system combines the strength and durability of steel with the workability of wood. Contractors can build exterior deck substructures more efficiently and safely with the ICON ScrewJoist system. The patented design offers advantages over traditional lumber, such as reduced weight for easier handling, faster installation without metal hangers or connectors, and improved dimensional stability, ensuring a level deck surface.

• Additionally, this system is compatible with smart home technologies and energy efficiency initiatives, making it an ideal choice for flooring applications in smart cities. The market is expected to continue growing as companies introduce more advanced and sustainable products for roof framing, wall studs, and flooring installation.

What challenges does I-Joist Market face during the growth?

Competition from alternative products is a key challenge affecting the market growth.

• The market faces competition from alternative construction materials, such as steel and concrete, which could impact its expansion. Steel, known for its superior strength and durability, is a popular choice in both residential and commercial construction. Its resistance to pests, rot, and fire, as well as its recyclability and low maintenance requirements, make it an eco-friendly and cost-effective option for builders.

• Concrete, particularly in multistory buildings and commercial projects, is another formidable competitor. It is inherent fire resistance and thermal mass properties contribute to energy efficiency, while its superior structural integrity in high-load scenarios appeals to developers prioritizing durability and longebility. The choice between I-joists and these alternatives depends on various factors, including cost, environmental considerations, and project requirements.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Boise Cascade Co
• Evolution Structures
• James Jones & Sons Ltd
• Louisiana Pacific Corp.
• Nordic Structures
• Pro Builder
• Pryda
• REDBUILT
• Simpson Strong Tie Co Inc
• Sodra
• Steico Groups
• TECO Building Products
• Thomas Publishing LLC
• Tilling Timber
• Triforce
• Tri-State Forest Products
• Weyerhaeuser Co.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

Engineered wood i-joists have revolutionized the construction industry, offering superior load-bearing capacity and structural integrity for floors, roofs, and walls in both residential and commercial buildings. These innovative engineered wood products are designed with a web and flanges, resembling an "I" shape, making them ideal for use as load-bearing members in open floor plans and multistory structures. The use of engineered wood i-joists in construction offers numerous benefits. They are fire-resistant, with the option for fire-resistant coatings, ensuring safety in commercial real estate and high-rise buildings. Their lightweight nature allows for faster installation and reduced logistics and supply chain management costs, making them a preferred choice for modular and prefab construction.

Further, engineered wood i-joists are also eco-friendly and sustainable, contributing to the reduction of greenhouse gas emissions in infrastructure projects and urban development. With their energy efficiency and compatibility with smart home technologies, they are an excellent choice for sustainable and smart city designs. These engineered wood products come in various forms, including composite wooden joists, wooden i-beams, laminated veneer wood, graded solid wood, and plywood. Their versatility and design flexibility make them suitable for a wide range of applications, from new construction and replacement flooring to roof framing, wall studs, and roof rafters. Renovating residential spaces and constructing new commercial buildings can be accomplished more efficiently and cost-effectively with engineered wood i-joists.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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