Wood Based Panel Market: USD 354.9 billion and CAGR of 6.4% by 2031

According to a new report published by Allied Market Research, titled, "Wood-Based Panel Market," The wood-based panel market was valued at $190.9 billion in 2021, and is estimated to reach $354.9 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031.

𝙂𝙚𝙩 𝙞𝙣𝙨𝙞𝙙𝙚 𝙎𝙘𝙤𝙤𝙥 𝙤𝙛 𝙩𝙝𝙚 𝙧𝙚𝙥𝙤𝙧𝙩, 𝙧𝙚𝙦𝙪𝙚𝙨𝙩 𝙛𝙤𝙧 𝙨𝙖𝙢𝙥𝙡𝙚: - https://www.alliedmarketresearch.com/request-sample/16418

The report provides an extensive analysis of the current and emerging global wood-based panel market trends and dynamics.

Depending on product type, the particleboards segment dominated the wood-based panels market, in terms of revenue in 2021 and is projected to grow at a significant CAGR during the forecast period.

By end-user, the residential segment has registered highest revenue in 2021.

Asia-Pacific is projected to register the highest growth rate in the coming years.

The key players within the global wood-based panels market are profiled in this report, and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the wood-based panel Industry.

The wood-based panel market forecast analysis from 2022 to 2031 is included in the report.

𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗶𝘇𝗲 𝗮𝗻𝗱 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁

The global wood-based panel market size was valued at $190,873.9 million in 2021, and is projected to reach $354,943.8 million by 2031, registering a CAGR of 6.4% from 2022 to 2031. A wood-based panel is a general term for a variety of different board products, which have an impressive range of engineering properties. It is primarily used in construction, flooring, furniture, packaging, and others.

Wood-based panels have become a popular choice in the construction and furniture industries due to their sustainability, versatility, and aesthetic appeal. These panels, manufactured from wood fibers or particles, offer a cost-effective alternative to solid wood while providing excellent structural properties. In this blog post, we will delve into the wood-based panels market, conducting a segmented analysis to gain insights into its diverse product types, applications, and regional trends.

𝙈𝙖𝙠𝙚 𝙖 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙄𝙣𝙦𝙪𝙞𝙧𝙮: - https://www.alliedmarketresearch.com/purchase-enquiry/16418

Regional Trends:

In 2021, Asia-Pacific registered the highest share of the global wood-based panel market share in 2021, owing to increased investment in tourism by private as well as public sector, which has also led to increased construction activities, thereby; creating demand for wood-based panels. Furthermore, the majority of the countries in the region are spending on the construction sector for the growth of their economies.

Major players have adopted various strategies, such as product launch, acquisition and business expansion to sustain the competition and improve the product portfolio. For instance, in October 2021, West Fraser Timber Co. Ltd. announced that it has entered into an agreement to acquire Georgia Pacific's oriented strand board ("OSB") mill near Allendale, South Carolina for approximately $280 million. Such strategies are expected to boost the wood-based panel market growth.

North America:

The North American market is driven by construction activities, high furniture consumption, and stringent regulations promoting sustainable building materials.
Plywood and MDF panels are popular choices in the region, emphasizing environmental sustainability and LEED certifications.

Europe:

Europe has a well-established wood-based panels industry, focusing on quality, innovation, and eco-friendly practices.
Plywood, particleboard, and MDF panels are widely used, with a strong emphasis on sustainable forestry management and recycling initiatives.

Asia Pacific:

The Asia Pacific region experiences robust growth in construction and furniture sectors, driving the demand for wood-based panels.
Plywood, particleboard, and OSB panels are in high demand, with a focus on cost-effective solutions and rapid urbanization.

𝗧𝗵𝗲 𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀

The key players that operate in the wood-based panels market are Dare Panel Group, Century Plyboards Limited, Egger Group, Evergreen Fibreboard Berhad Georgia Pacific Wood Products LLC, Kronoplus Limited, Louisiana-Pacific Corporation, Sonae Arauco, West Fraser, and Weyerhaeuser Company.

𝙏𝙤 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙩𝙝𝙞𝙨 𝙋𝙧𝙚𝙢𝙞𝙪𝙢 𝙍𝙚𝙥𝙤𝙧𝙩: https://www.alliedmarketresearch.com/checkout-final/eeb61a155fc86482ec0c4b76fce3a

𝗔𝗻𝗮𝗹𝘆𝘀𝘁 𝗥𝗲𝘃𝗶𝗲𝘄

The wood-based panels market continues to thrive as a sustainable alternative to solid wood, offering versatility, strength, and aesthetic appeal in various applications. By segmenting the market based on product types, applications, and regions, we can gain valuable insights into the preferences, trends, and growth opportunities within the industry. As sustainability and environmental concerns become increasingly important, the wood-based panels market is poised for further growth, providing eco-friendly solutions to meet the demands of the construction, furniture, and interior design sectors.

More Reports -

Sandwich Panels Market-https://www.openpr.com/news/3250380/sandwich-panels-market-to-grow-at-a-cagr-of-6-7-and-to-reach-39-16

Remote Monitoring and Control Market-https://www.openpr.com/news/3250419/remote-monitoring-and-control-market-outlook-and-report-2031

Affordable Housing Market-https://www.openpr.com/news/3250440/affordable-housing-market-size-trends-and-growth-report-2031

Mass Transfer Equipment Market-https://www.openpr.com/news/3250488/mass-transfer-equipment-market-to-reach-usd-4-2-billion-and-grow

Asia & MENA Industrial Refrigeration-https://www.openpr.com/news/3252109/cagr-of-5-3-asia-mena-industrial-refrigeration-market

1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.