Global Wood Based Panels Market is to be driven by the increasing demand in building and construction industries along with rapid urbanization in the Forecast period of 2021-2026
The new report by Expert Market Research titled, ‘Wood Based Panels Market Growth, Size, Share, Trends, Price, Analysis, Outlook, Report and Forecast 2021-2026, gives an in-depth analysis of the Wood Based Panels Market, assessing the market based on its segments like product, application and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
• Forecast CAGR (2021-2026): 7%
• Forecast Market Size (2026): USD 225 billion
Globally, growth in residential and commercial construction activities across major geographies are expected to fuel demand for wood-based panels. Wood based panel demand is expected to grow as a result of technological advances and improved productivity in manufacturing. Rapid rises in the cost of petroleum-based fuels and materials, on the other hand, continue to raise the production and marketing costs of wood-based panel products, impeding their development.
Industry Definition and Major Segments
Wood-based panel is a broad term that encompasses a wide variety of board products of varying engineering properties. Furniture, construction, and manufacturing both use wood-based panel products. Sawmills, log dealers, and reclaimed fiber brokers provide the raw materials needed to make wood-based panels, such as fiber wood and timber. Price volatility and inconsistency of raw material supplies are expected to be major sources of concern for market participants.
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By product, the market is divided into:
• Medium Density Fibreboard (MDF)
• High Density Fibreboard (HDF)
• Oriented Strand Board (OSB)
Based on application, the industry can be segmented into:
The regional markets for wood-based panels include:
• North America
• Asia Pacific
• Latin America
• The Middle East and Africa
The demand for wood-based panels is expected to rise as investments in residential and commercial construction activities increase across major geographies. Furthermore, the public-private collaborations for the development of the construction sector in developing economies like India, China, and Saudi Arabia are expected to boost business growth.
Moreover, In the medium term, rising demand from Asia-infrastructure Pacific’s sector is propelling the industry forward. Whereas price volatility and inconsistency of raw material supplies are expected to be major sources of concern for market participants.
Key Market Players
The major players in the market are EGGER Group, Norbord Inc. (West Fraser), Kronoplus Limited, Dongwha Group, Georgia-Pacific LLC and others. The report covers the market shares, plant turnarounds, capacities, investments, expansions and mergers and acquisitions, among other latest developments of these market players.
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