The global wood-based panels market is expected to be driven by growing demand in building and construction industries along with rapid urbanization during the forecast period 2021-2026

Expert Market Research’s new report titled “Wood-based Panels Market Size, Trends, Growth, Analysis, Outlook, Report and Forecast 2021-2026”, provides an in-depth analysis of the wood-based panels market size wood, assessing the market based on its segments like product, application, and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

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Key highlights of the report include:

Market Overview (2016-2026)

• Forecast CAGR (2021-2026): 7%
• Projected market size (2026): 225 billion USD

Globally, growth in residential and commercial construction activities in major geographies is expected to fuel the demand for wood-based panels. The demand for wood-based panels is expected to increase due to technological advancements and improved productivity in the manufacturing sector. On the other hand, rapid increases in the cost of petroleum-based fuels and materials continue to increase the costs of producing and marketing wood-based panels, hampering their development.

Wood-Based Panels Market Industry Definition and Major Segments

Wood-based panel is a general term that encompasses a wide variety of panel products with varying technical properties. Furniture, construction and manufacturing both use wood-based panel products. Sawmills, log traders and reclaimed fiber brokers supply the raw materials needed to manufacture wood-based panels, such as wood fiber and lumber. Price volatility and inconsistency in raw material supplies are expected to be the main sources of concern for market participants.

Read the full report with table of contents– https://bit.ly/3APc1kX

By product, the market is divided into:

• Medium Density Fibreboard (MDF)
Plywood
• Soft board
Particle board
• Hardboard
• High density fibreboard (HDF)
• Oriented strand board (OSB)

Based on application, the industry can be segmented into:

• Furniture
• Packaging
• Decoration
• Construction
• Others

Regional markets for wood-based panels include:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Wood-based panels market trends

The demand for wood-based panels is expected to increase as investment in residential and commercial construction activities increase in major geographies. Furthermore, 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, the growing demand from the Asia-Pacific infrastructure sector propels the industry forward. While price volatility and inconsistency in raw material supplies are expected to be the main sources of concern for market participants.

Main market players

Major market players include EGGER Group, Norbord Inc. (West Fraser), Kronoplus Limited, Dongwha Group, Georgia-Pacific LLC and others. The report covers market shares, plant turnovers, capacities, investments, expansions, and mergers and acquisitions, among other latest developments of these market players.

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