Wood-Based Panel Market Wood-Based Panel Marketm

Wood-Based Panel Market

Wood-Based Panel Market is anticipated to grow at a faster rate during the forecast period (2020-2027)

The factors driving the growth of Wood-Based Panel Market includes growing population, rapid urbanization, increasing investments for construction of residential and commercial spaces along with its ability to provide structural durability to roofs and walls. As per the report published by IBEF, the real estate Industry in India is anticipated to reach US$ 1 trillion by the end of 2030, accounting for 18-20% of India's GDP, which will increase the Wood-Based Panel Market size in India. The growing use of Wood-Based Panels in furniture, ongoing technological innovations, rising repair, and renovation activities and increasing demand for Wood-Based Panels in packaging industry, are the factors accelerating the for the growth of Wood-Based Panel Market in the International Markets.

However, the growth of Wood-Based Panel is hindered due to variations in the prices of raw materials, disruptions in the supply chain and rising concerns about the emissions of formaldehyde while manufacturing.

The major players operating the market includes Starbank Panel Products Ltd, Egger Group, Pfeifer Group, Sonae Industria, Dongwha Malaysia Holdings Sdn. Bhd., Dare Panel Group Co. Ltd., Norbord Inc., Green River Holding Co. Ltd., Kronospan Limited and Timber Products Company among others.

Product: Segment Analysis

As per the Wood Based Panel Market Analysis, the plywood segment is projected to grow at a significant rate during the forecast period. The increasing use of plywood in furniture and joinery and its water resistive features, are the factors responsible for the growth of the segment.

The Medium density fiberboard (MDF) segment is projected to lead the market over the forecast period due to its increasing application in flooring, manufacturing, and cabinetry.

Application: Segment Analysis

Based on application, the furniture segment is expected to capture a substantial market share over the forecast period due to rising consumers preference for traditional furniture in the bedrooms and increasing usage of surface veneering technology.

Regional: Segment Analysis

Based on the region, the Asia-Pacific region is anticipated to expand at a faster CAGR during the forecast period due to rising disposable income of consumers, increasing construction activities in the emerging economies such as India, Philippines and Indonesia and growing e-commerce industry. Chinese Government is planning to invest USD 1.43 trillion over the next 5 years till 2025 in the construction projects, which will boost the market growth in the region.

Market Segmentation

Global Wood-Based Panel Market by Product Type

• Medium Density Fiberboard (MDF)


• High Density Fiberboard (HDF)


• Particleboard


• Oriented Strand Board (OSB)


• Softboard


• Hardboard


• Plywood

Global Wood-Based Panel Market by Application

• Furniture


• Construction
  
  
  
  • Windows & Doors
  
  
  • Flooring & Decking
  
  
  • Siding
  
  
  • Others
  
  
  
  


• Packaging

Global Wood-Based Panel Market by Region

• Asia Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Rest of APAC
  
  
  
  

• North America
  
  
  
  • United States of America
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • United Kingdom
  
  
  • Germany
  
  
  • France
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  

• RoW
  
  
  
  • Brazil
  
  
  • South Africa
  
  
  • Saudi Arabia
  
  
  • UAE
  
  
  
  

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