Press release
Wood Based Panels Market Growth 2022 | Industry Trends, Report and Global Insights 2027
Wood Based Panels Market
The latest research study "Wood Based Panels Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that 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.
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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.
Along with this, key players are conducting research and development (R&D) activities to develop production processes for wood-based panels, thus accelerating market growth. Furthermore, the growing preference for eco-friendly wood-based panels that are less harmful to the environment is expected to propel market growth in the coming years.
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Global Wood Based Panels Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
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.
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)
• Particleboard
• Softboard and Hardboard
• Plywood
• Others
Breakup by Distribution Channel:
• Online Stores
• OEMs
• B2B
• Specialty Stores
• Others
Breakup by Application:
• Furniture
• Construction
• Packaging
• Others
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
Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/wood-based-panels-market
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
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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IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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