The Wood Based Panel Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Wood Based Panel Global Market Report 2024, The wood based panel market size has grown strongly in recent years. It will grow from $164.89 billion in 2023 to $177.96 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to traditional construction practices, renewable resource, versatility in applications, urbanization and construction boom, preference for natural aesthetics.
The wood based panel market size is expected to see strong growth in the next few years. It will grow to $237.46 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to growing demand for sustainable construction, innovation in manufacturing processes, rising popularity of engineered wood products, architectural design trends, renewed interest in wood construction. Major trends in the forecast period include digitalization and industry 4.0 integration, sustainable sourcing and certification, innovative materials and product development, energy efficiency and carbon footprint reduction, market growth in construction and furniture industries.
Increased building and construction activity is expected to drive the wood based panel market going forward. Construction refers to the process of building or assembling something, typically a structure, using various materials and techniques for residential and commercial purposes. Wood-based panels are widely used in the construction of residential and commercial buildings for wall sheathing, insulation, roofing, and flooring. For instance, in December 2022, according to the Federal Reserve Bank of St. Louis, a US-based central bank, total spending on commercial construction reached $131 million, increasing from $103 million in December 2021. Furthermore, in May 2022, the total spending on residential construction topped $954 million, increasing from $797 million in May 2021. As a result, the increasing building and construction activity is driving the wood based panel market forward.
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The wood based panel market covered in this report is segmented –
1) By Product Type: Medium-Density Fiberboard (MDF)/High-Density Fiberboard (HDF), Oriented Strand Board (OSB), Particleboard, Hardboard, Plywood, Other Product Types
2) By Distribution Channel: Direct Sales, Online Stores, Specialty Stores, Other Distribution Channels
3) By End User: Residential, Non-residential
4) By Application: Construction, Furniture, Packaging, Flooring, Other Applications
Major companies operating in the wood-based panels market are focusing on strategic collaboration, to provide reliable services to customers. Strategic collaboration refers to a mutually beneficial partnership between two or more independent entities who work together to achieve shared goals aligned with their individual strategic objectives. For instance, in April 2023, BASF SE, a Germany-based chemical company, partnered with Swiss Krono Group, a Switzerland-based provider of wood-based materials, to develop innovative wood-based panels. The companies are committed to reducing the carbon footprint of the wood-based panel industry.
The wood based panel market report table of contents includes:
1. Executive Summary
2. Wood Based Panel Market Characteristics
3. Wood Based Panel Market Trends And Strategies
4. Wood Based Panel Market - Macro Economic Scenario
5. Global Wood Based Panel Market Size and Growth
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31. Wood Based Panel Market Other Major And Innovative Companies
32. Global Wood Based Panel Market Competitive Benchmarking
33. Global Wood Based Panel Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Wood Based Panel Market
35. Wood Based Panel Market Future Outlook and Potential Analysis
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The global wood based panel market size is estimated to reach USD 247.23 billion by 2027, exhibiting a revenue-based CAGR of 6.9% during the forecast period, as per a new report published by Radiant Insights, Inc.
Rising demand for these panels to manufacture residential and home furniture, Ready-to-Assemble (RTA) products, and small accent pieces is anticipated to positively impact the growth.
The trends such as production of lightweight furniture and wood products and innovations in surfacing to apply the new coating materials are expected to drive the market in the forthcoming years.
Further key findings from the report suggest: • Plywood segment accounted for the largest wood based panels market share of 39.56% in 2019, owing to the exceptional properties offered by the product such as high strength, durability, and moisture resistance • Furniture dominated the application segment in 2019 and is expected to remain as the largest application of wood based panels over the forecast period owing to rising adoption of recyclable and eco-friendly furniture for residential and non-residential purposes • The demand in construction application is expected to register a CAGR of 8% during the forecast period, on account of rising product demand for manufacturing durable and lightweight doors, windows, and wall solutions • Malaysian Conglomerate Samling Group of Companies established a joint venture with Masonite International Corporation, an American global building products company, for the manufacturing and distribution of woods Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/wood-based-panel-market Table of Contents Chapter 1.
Secondary Sources & Third-Party Perspectives1.3.4.
In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Industry Overview of the Wood Based Panel Market 2020The research report titled Global Wood Based Panel Market is an all-inclusive document containing crucial data pertaining to sales and revenue of the Wood Based Panel industry.
The report provides historical data (2017-2018) of the industry and provides valuable forecast information for the period of 2020-2027.
The report is formulated with the analysis of current and emerging trends based on the impact of the COVID-19 pandemic.
The pandemic has changed the dynamics of the market and has drastically shaken up the economic scenario of the world.
It also covers trends, demands, and growth rates impacted by the ongoing crisis.Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3251The forecast estimation states the global Wood Based Panel market is expected to dominate the economic sphere of the world with significant growth in the coming years.
The current and emerging trends are expected to shape up the industry and help in gaining a strong foothold in the global market to contribute to the revenue generation.The Global Wood Based Panel market is further analyzed on the basis of key companies operating in the business sphere and major geographical regions where the market has a substantial size and growth rate.Prominent Players: Georgia-Pacific, Kastamonu Entegre, Norbord Inc, EGGER Group, Starbank Panel Products Ltd., SGS Industrial Services, Dare Panel Group Co., Ltd., Kronospan Limited, Klenk Holz GmbH, and Robin Wood, among others.For the purpose of this report, Reports and Data have segmented into the global Wood Based Panel market on the basis of product, distribution channel, application, and region:Product Outlook (Revenue, USD Billion; 2017-2027)PlywoodHardboardSoftboardOriented Strand BoardParticleboardHigh Density FiberboardMedium Density FiberboardDistribution Channel Outlook (Revenue, USD Billion; 2017-2027)Offline StoresOnline StoresApplication Outlook (Revenue, USD Billion; 2017-2027)PackagingConstructionFurnitureZonal Partition of the Market: North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.The report covers extensive analysis of market segments that are anticipated to lead by the end of the forecast period (2020-2027).
Global Wood Based Panel Market by Manufacturers, Countries, Type and Application, Forecast to 2023 Report “ Provides In-Depth Analysis Of Parent Market Trends, Macro-Economic Indicators And Governing Factors Along With Market Attractiveness As Per Segments.Introduction: Wood-based panels are sheet materials that contain a significant proportion of wood in one of a variety of forms (strips, veneers, chips, strands or fibres).
This report categorizes the market based on manufacturers, regions, type and application.Request a Sample of this Report @ http://www.orbisresearch.com/contacts/request-sample/2199786The worldwide market for Wood Based Panel is expected to grow at a CAGR of roughly -0.5% over the next five years, will reach 161800 million US$ in 2023, from 166800 million US$ in 2017, according to a new GIR (Global Info Research) study.Wood-based panels are sheet materials that contain a significant proportion of wood in different forms.
According to its different manufacturing technology, wood base panels can be divided into categories, such as PB, MDF, HDF, OSB, plywood and so on.
Among those types, plywood accounts for the largest production proportion which was 32.65% in 2015.
Wood based panel industry has low technology barrier, which result in large amounts of manufacturers distributing in the each corner of the world.
Besides, due to fierce competition in the industry, price and gross margin are estimated to decline further.
The Global Wood Based Panel Market research report offers accurate insights for the growth prospects of the Wood Based Panel market in the forecast years 2020-2027.
The report is an all-inclusive study of the Wood Based Panel market that offers the readers a better view of the current and emerging market trends through a thorough analysis of the market size, growth trends, supply and demand ratio, market share, sales network and distribution channels, and other key elements.Furthermore, the report is furnished with the current market scenario with regards to the COVID-19 pandemic.
The global public health emergency has disrupted the lives of everyone across the globe.
It has also had a substantial impact on the Wood Based Panel industry as global supply chains have been disrupted, and the financial scenario is tight.
The report assesses the initial and future impact of the pandemic on the market and its key segments to offer an accurate futuristic outlook for remuneration in a post-COVID-19 scenario.Get a sample copy of the report @ https://www.reportsanddata.com/sample-enquiry-form/3251Scope of the Market Report:The report offers a holistic overview of the Wood Based Panel industry that offers all the essential information.
Along with this, the report extensively studies the competitive landscape in the market and profiles the key players of the industry.The report covers extensive analysis of the key market players in the market, along with their business overview, expansion plans, and strategies.
