According to the latest report by IMARC Group, titled “Wood based Panel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global wood based panel market Growth. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global wood based panels market reached a value of US$ 155.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 225.1 Billion by 2027, exhibiting a CAGR of 6.15% during 2022-2027.
Wood-based panels are made from wood chips, strips, veneers, strands, and fibers bonded together with synthetic or other adhesives, including phenol-formaldehyde resins and urea-formaldehyde adhesives. Some commonly used wood-based panels comprise particleboard, medium-density fiberboard (MDF), high-density fiberboard (HDF), plywood, soft board, hardboard, and oriented strand board (OSB). They are highly versatile, easy to maintain, long-lasting, cost-effective, and resistant to moisture and temperature, with enhanced shape stability corresponding to solid wood furniture. As a result, wood-based panels are extensively utilized in the packaging, construction, and shipping industries.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Wood Based Panels Market Trends and Drivers:
The market is primarily driven by the expanding construction industry across the globe. This can be attributed to the extensive investment in the infrastructure development of commercial and residential sectors worldwide. In addition, the increasing utilization of wood-based panels for high structural durability to walls, beams, doors, staircases, roofs, and floors is contributing to the market growth.
Moreover, the escalating demand for aesthetically appealing furniture among the masses and the rising demand for oriented strand board (OSB), as it is a cost-effective solution for home construction, is providing a thrust to the market growth. Besides this, the market is further propelled by the increasing utilization of particleboard, as it is denser and more uniform than traditional wood products and plywood.
Global Wood Based Panels Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Wood Based Panels Companies:
Binderholz GmbH, Dongwha Enterprise, EGGER Group, Evergreen Fibreboard Berhad, Georgia-Pacific LLC (Koch Industries Inc.), Green River Holding Co. Ltd., Kastamonu Entegre, Louisiana-Pacific Corporation, Sonae Arauco, Starbank Panel Products Ltd., West Fraser Timber Co. Ltd. and Weyerhaeuser Company.
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The report has segmented the market on the basis of region, product type, distribution channel and application.
Breakup by Product Type:
- Medium Density Fiberboard (MDF)/High Density Fiberboard (HDF)
- Oriented Strand Board (OSB)
- Softboard and Hardboard
Breakup by Distribution Channel:
- Online Stores
- Specialty Stores
Breakup by Application:
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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