Wood-Based Panels Market Size 2022-2027 Share, Trends, Industry Growth, Analysis and Forecast – IMARC Group
According to the latest report of the IMARC group, entitled “Global Wood-Based Panels Market Size, Share, Trends, Growth, Opportunities and Forecast 2022-2027“, the global wood-based panel market reached a value of US$155.3 billion in 2021. Looking ahead, IMARC Group expects the market to reach a value of US$225.1 billion US dollars by 2027, growing at a CAGR of 6.15% in 2022-2027.
Wood-based panels are made from strips, chips, veneers and strips. They consist of particleboard, medium density fireboard (MDF), high density fiberboard (HDF), softboard, plywood, hardboard and oriented strand board (OSB). Wood-based panels are widely used in the packaging, construction and transportation industries as they are economical due to the use of particle board and fire board surface veneer technology to moderate density in their manufacture. These panels also exhibit temperature and humidity resistance as well as improved shape stability compared to solid wood furniture.
Base year: 2021
Forecast year: 2022-2027
Wood-Based Panels Market Trends and Drivers:
One of the major market drivers is the increasing use of wood-based panels to provide high structural durability to walls, roofs, floors, stairs and beams. Additionally, the growing demand for Oriented Strand Board (OSB) due to its cost-effective solution for house construction, is also contributing to the growth of the market.
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Rapid growth in construction industry activities and heavy investment by governments of various countries in infrastructure development have boosted the demand for wood-based panels. In addition, with the improvement in the standard of living, individuals are opting for aesthetic furniture. This, along with the extensive research and development activities of major players, is bolstering the growth of the market.
Additionally, increased production in wood-based panel redesign, assembly and fastening exercises also creates positive market prospects. Some of the other factors driving the exponential growth of the market are rapid urbanization, population growth, and personal income inflation.
Note: We regularly track the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
Analysis and segmentation of the global wood-based panels market 2022-2027:
The competitive landscape of the market has been studied in the report along with the detailed profiles of key players operating in the market.
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 based on region, product type, distribution channel, and application.
Breakdown by product type:
• Medium Density Fibreboard (MDF)/High Density Fibreboard (HDF)
• Oriented strand board (OSB)
• Particle board
• Softboards and hardboards
Breakdown by distribution channel:
• Online stores
• Specialty stores
Breakdown by application:
Breakdown 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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Main 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
• Complete mapping of the competitive landscape
If you need specific information that is not currently covered in the report, we can provide it to you as part of the customization.
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