Press release
Wood-Based Panel Market growing at a CAGR of 6.4% and is projected to reach $354.9 billion by 2031
A recent report by Allied Market Research, titled "Wood-Based Panel Market," reveals significant expansion in this industry. The global wood-based panel market was valued at $190.9 billion in 2021 and is projected to reach $354.9 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031.
π₯ Download Sample Report: https://www.alliedmarketresearch.com/request-sample/A16049
What Are Wood-Based Panels?
Wood-based panels refer to a broad category of engineered wood products, including particleboards, plywood, medium-density fiberboard (MDF), and oriented strand board (OSB). These panels are widely used in construction, furniture, flooring, packaging, and interior design due to their high strength, durability, and eco-friendly properties.
πΉ Key Benefits:
βοΈ Cost-effective and sustainable alternative to traditional wood
βοΈ Structural durability for buildings and furniture
βοΈ Versatile applications across multiple industries
Market Segmentation & Key Insights
By Product Type:
β Particleboards - Largest market share in 2021, valued for their strength and affordability.
β Plywood - Preferred for construction and furniture due to high durability.
β Medium-Density Fiberboard (MDF) - Gaining popularity for interior applications.
β Oriented Strand Board (OSB) - Widely used in flooring and wall sheathing.
By Application:
β Furniture - Largest segment in 2021, driven by demand for cabinets, shelves, and modular furniture.
β Construction - Growth fueled by housing projects, commercial buildings, and flooring applications.
β Packaging - Wood panels are essential for shipping, logistics, and container manufacturing.
By End User:
β Residential Sector - Dominated market revenue in 2021, driven by urbanization and home renovation trends.
β Non-Residential Sector - Expanding due to growth in office spaces, hotels, and infrastructure projects.
Market Growth Drivers & Opportunities
πΉ Rising Construction Investments
The surge in commercial and residential infrastructure projects is propelling demand.
Government incentives for eco-friendly buildings are boosting the adoption of wood-based panels.
πΉ Sustainable & Eco-Friendly Materials
Wood-based panels are preferred over traditional cement and synthetic materials due to their low environmental impact.
Green building certifications are encouraging builders to use engineered wood products.
πΉ Growing Furniture & Interior Design Industry
The increasing popularity of customized furniture and home deΜcor solutions is driving demand.
Wood-based panels offer flexibility, strength, and aesthetic appeal, making them a top choice for designers.
πΉ Technological Advancements & Product Innovations
Leading manufacturers are investing in advanced wood-processing techniques to enhance panel durability and performance.
The rise of engineered wood solutions like cross-laminated timber (CLT) is shaping future industry trends.
Challenges & Market Constraints
π Fluctuating Raw Material Costs - Price volatility in timber and adhesives impacts production costs.
π High Initial Investments - Advanced manufacturing processes require substantial capital.
π Supply Chain Disruptions - Pandemic-related shutdowns and labor shortages have affected raw material availability.
Regional Market Trends
π Asia-Pacific - Market Leader
Highest market share in 2021, driven by rapid urbanization and tourism investments.
Countries like China, India, and Japan are making massive infrastructure investments, increasing demand for wood-based panels.
π North America & Europe
Steady market growth due to the demand for sustainable housing solutions.
Increased adoption of modular construction techniques is further boosting demand.
π LAMEA (Latin America, Middle East & Africa)
Expected to register the highest CAGR, fueled by expanding real estate and industrial sectors.
π₯ Purchase Enquiry: https://www.alliedmarketresearch.com/wood-based-panel-market-A16049
Competitive Landscape & Industry Strategies
Major industry players are actively expanding their businesses through:
β Acquisitions & Mergers - Strengthening market position through strategic partnerships.
β Product Innovation - Developing high-performance, fire-resistant, and moisture-proof panels.
β Geographical Expansion - Companies are investing in emerging markets to tap into new opportunities.
π Example: In October 2021, West Fraser Timber Co. Ltd. acquired Georgia-Pacific's OSB mill in South Carolina for $280 million, strengthening its production capacity.
Impact of COVID-19 on the Wood-Based Panel Market
π Pandemic Challenges:
Supply chain disruptions affected production and availability of raw materials.
Temporary shutdowns in manufacturing facilities led to revenue losses.
π Market Recovery:
With vaccination rollouts and economic reopening, demand for construction and furniture is bouncing back.
Sustained infrastructure investments and urbanization are fueling long-term market growth.
Key Findings & Future Outlook
π Particleboards led the market in 2021, with strong projected growth.
π The residential sector accounted for the highest revenue share, driven by rising housing demand.
π Asia-Pacific is expected to dominate, while LAMEA is projected to witness the fastest growth.
π Sustainability and innovation will shape the future of the wood-based panel industry.
As global demand for eco-friendly and durable construction materials increases, the wood-based panel market is set for strong expansion. π¨π‘
Would you like further insights on key players, investment opportunities, or technological trends? Let me know! π
Construction Newswire https://www.linkedin.com/newsletters/construction-newswire-6925036539492126720/
Construction blog https://www.linkedin.com/newsletters/accuracy-precision-7028605745986248704/
Construction Article https://www.linkedin.com/newsletters/manufacturing-construction-6950362034999812096/
Contact Us:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
About Allied Market Research:
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.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the report
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Wood-Based Panel Market growing at a CAGR of 6.4% and is projected to reach $354.9 billion by 2031 here
News-ID: 3881493 • Views: β¦
More Releases from Allied Market Research
Mobile Application Security Market Growing at 26.3% CAGR Reach USD 37.1 Billion β¦
Allied Market Research published a new report, titled, "Mobile Application Security Market Growing at 26.3% CAGR Reach USD 37.1 Billion by 2032." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain a thorough understanding of the industry and determineβ¦
MarTech Market Witnessing CAGR of 18.5% Hit USD 1.7 Trillion by 2032
The global marketing technology market is experiencing growth due to several factors, including the increasing digital transformation, the surge in demand for personalized experience, and the proliferation of automation and efficiency. However, data privacy and compliance, and the high cost of implementation are expected to hamper market growth. Furthermore, the growing integration of AI and ML technologies and the increase in demand for real-time marketing are anticipated to provide lucrativeβ¦
Feedback Management Software Market Growing with CAGR of 12.9% Reach USD 28.7 Bi β¦
Allied Market Research published a new report, titled, "Feedback Management Software Market Growing with CAGR of 12.9% Reach USD 28.7 Billion by 2031 ." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry andβ¦
Digital Educational Publishing Market Growing at 15.9% CAGR Reach USD 41.5 Billi β¦
The Market report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
The global Digital Educational Publishing Market was valued at $9.9 billion in 2021, and is projected to reach $41.5 billion by 2031, growing atβ¦
More Releases for Wood
Key Influencer in the Wood Preservatives Market 2025: Rising Global Wood Demand β¦
"What market dynamics are playing a key role in accelerating the growth of the wood preservatives market?
The market growth of wood preservatives is expected to be fueled by the rising demand for wood in multiple applications over the forecast period. With the global population and industrialization on the rise, the need for wood products is progressively growing. Wood, being a substantial source of energy, housing, firewood, timber, and fodder, hasβ¦
Thermally Modified Wood Market Analysis By Top Key Players - Kebony, Stora Enso, β¦
The "Thermally Modified Wood Market" is expected to reach USD xx.x billion by 2031, indicating a compound annual growth rate (CAGR) of xx.x percent from 2024 to 2031. The market was valued at USD xx.x billion In 2023.
Growing Demand and Growth Potential in the Global Thermally Modified Wood Market, 2024-2031
Verified Market Research's most recent report, "Thermally Modified Wood Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2030,"β¦
Palmetto Wood Shop: Personalized Wood Gifts for Every Occasion
Palmetto Wood Shop, a family-owned business renowned for its passion for woodworking, specializes in crafting high-quality, engraved gifts for every occasion. Since 2014, Palmetto Wood Shop's mission has been to provide customers across the U.S. and the world with personalized products that reflect the artistry and care that goes into each piece.
Palmetto Wood Shop's collection includes a wide array of products ranging from engraved pocketknives and hammers to personalized cuttingβ¦
Thermally Modified Wood Market 2023 Key Players - Stora Enso, Kebony, Thermory, β¦
Global Thermally Modified Wood Market 2023 introduced by a leading market research firm Fior Markets comes out as a highly reliable source of information and data on the global market. The report is a versatile and future-ready analytical survey that contains trend assessment, an in-depth assessment of market valuation, and revenue-generating trends. The report covers sharp insights into the present and forthcoming trends & developments in the global Thermally Modifiedβ¦
Pressure-treated Wood Market | Navigating New Horizons: Analyzing Innovative Bus β¦
In the past few years, the Pressure-treated Wood market experienced a huge change under the influence of COVID-19 and Russia-Ukraine War, the global market size of Pressure-treated Wood reached the predicted milestone in 2022 with the rising CAGR from 2017-2022. Facing the complicated international situation, the future of the Pressure-treated Wood market is full of uncertain. Report predicts that the global Pressure-treated Wood market size will expected to achieve aβ¦
Global Wood Processing Market | Global Wood Processing Industry: Ken Research
The wood processing market involves of sales of processed wood by several entities (organizations, sole traders and partnerships) that saw measurement lumber, boards, beams, timbers, poles, ties, shingles, shakes, siding, and wood chips from the logs or bolts. This industry also embraces establishments that treat planed, sawed and shaped wood with creosote or other preservers such as alkaline copper quat, copper azole, and sodium borates, to safeguard decay and toβ¦
