The global wood
based panel market size is expected to reach USD 174.55 billion by
2025, according to a new report by Grand View Research, Inc., registering a
7.7% CAGR during the forecast period. High demand as an insulating material for
wall cladding, ceiling, roofing, and flooring applications is expected to boost
market growth over the coming years.
The global industry is dynamic and highly competitive
in nature. Investments, divestments, and regional expansions are key strategies
adopted by players to strengthen their presence in the market. On the down
side, increasing raw material prices and lack of technological innovation are
expected to be a key concern for industry players.
Innovations in the traditional woodworking industry to
produce more sustainable products, such as MDF, particleboard, OSB, and HDF,
which can be employed in specific application areas, are expected to boost
market growth over the forecast period. Companies are investing in R&D
activities to come up with environment-friendly manufacturing wood based
panels.
Growing population, uncertain monsoons, and rapid
industrialization across the globe are major factors that have resulted in
deforestation, which, in turn, has led to low availability of raw materials.
Increasing raw material prices and high competition among industry players are
expected to shrink profit margins of industry players over the forecast period.
Stringent regulations imposed on manufacturing of wood
based panels are expected to be a key threat to market players. Moreover, high
initial investments and operational costs associated with the machinery are
expected to trigger entry barriers, thereby lowering the threat of new entrants
over the forecast period.
Browse full research report on Wood Based Panel Market: https://www.grandviewresearch.com/industry-analysis/wood-based-panel-market
Further
key findings from the report suggest:
- The MDF product segmentis expected to register a CAGR of 8.9% over
the projected period, on account of its preference in construction and
decoration applications. This can be attributed to its consistent particle
size, shape, and strength
- Particleboard is anticipated to be the fastest growing product
segment on account of its rising demand in the construction sector for
underlayment and roofing. This is due to its sturdy and rigid properties
- Enhanced properties such as high strength, moisture resistance,
chemical resistance, fire resistance, and durability offered by plywood
can be credited to its high market value of USD 37.24 billion in 2016
- Furniture dominated the market by application in 2016, accounting
for a 47.5% share. Wood based panels find high demand for manufacturing
lightweight, well-finished, and durable decorative products
- Asia Pacific held the largest market share of 58.4% in 2016 and is
expected to dominate the industry over the forecast period on account of
high investments in the construction sector in the region
- Key participants including Canfor, ante-Group, Georgia-Pacific,
Idaho Forest Group, LLC, and Kronospan Limited are investing in R&D
activities to come up with sustainable wood based panels to gain a
competitive edge over their competitors.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/green-building-materials
Grand
View Research has segmented the global wood based panel market on the basis of
product, application, and region:
Wood
Based Panel Product Outlook (Volume, Thousand Cubic Meters; Revenue, USD
Million, 2014 - 2025)
- MDF
- Standard MDF
- Thin MDF
- HDF
- Particleboard
- OSB
- Softboard
- Hardboard
- Plywood
Wood
Based Panel Application Outlook (Volume, Thousand Cubic Meters; Revenue, USD
Million, 2014 - 2025)
- Furniture
- Construction
- Windows
& doors
- Flooring
& decking
- Siding
- Others
- Packaging
Wood
Based Panel Regional Outlook (Volume, Thousand Cubic Meters; Revenue, USD
Million, 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- France
- U.K.
- Belgium
- The
Netherlands
- Spain
- Portugal
- Asia Pacific
- China
- India
- Central &
South America
- Brazil
- The Middle
East & Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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