Global Wood-Based Panel Market- Forecasts to 2026 By Product (Plywood, Medium Density Fiberboard (MDF), High-Density Fiberboard (HDF), Particleboard, Oriented Strand Board (OSB), Softboard, and Others), By Application (Furniture, Construction, Packaging, Building Materials, and Others), By Region (North America, Europe, Asia Pacific, and Rest of the World); Vendor Landscape, End-User Landscape, and Company Market Share Analysis & Competitor Analysis.
Wood-based Panel Market Insights
The global wood-based panel market is projected to grow at a high CAGR during the forecast period [2020-2026]. Rising demand for infrastructure is the key factor driving the growth of the market. A wood-based panel is a term generally used for a variety of different board products, which are primarily used in packaging, construction, and shipping. Rapid industrialization, advancement in production technology, and rising trend for lightweight furniture and wood products are some of the major factors expected to propel the market growth during the forecast period. Increasing investment in residential & commercial construction activities across the globe is also driving the market for wood-based panel. Moreover, rising deforestation leading to global warming has raised the demand for efficient timber utilization, thereby propelling the growth of the market. However, strict government regulations and the rapidly increasing cost of petroleum-based fuels & products are likely to hamper the market growth.
Wood-based Panel Market: By Product
On the basis of product, the wood-based panel market is classified into plywood, medium-density fiberboard (MDF), high-density fiberboard (HDF), particleboard, oriented strand board (OSB), and soft board among others. The plywood segment is expected to dominate the market during the forecast period attributing to the superior properties offered by the product such as durability, high strength, and chemical & moisture resistance.
Wood-based Panel Market: By Application
On the basis of application, the wood-based panel market is segmented into furniture, construction, packaging, and building materials among others. The construction segment is anticipated to hold the largest market share during the forecast period. Wood based panels are used for constructing high structural durability roofs, floors, walls, and doors, among others in construction industry. Rise in population, rapid urbanization, increase in purchasing power, and growing investment in infrastructure boosts the demand for the wood-based panel in the construction segment. The furniture segment is projected to grow significantly during the forecast period owing to the increasing demand for durable and lightweight windows, doors, and wall solutions. Additionally, the rising demand for traditional furniture for the living room and bedroom fuels the growth of the segment over the period.
Wood-based Panel Market: By Region
Asia Pacific region is estimated to dominate the overall wood-based panel market during the forecast period. Growing construction activities and the rising demand for furniture in countries like India, China, and Japan among others is driving the market growth in the region. China is the largest producer and consumer of wood-based panels owing to the rising investment in the construction sector. Europe is anticipated to witness significant growth over the period. The growing construction industry across Germany, UK, and France is boosting the market growth in the region.
Wood-based Panel Market Share & Competitor Analysis
Some of the key players operating in the global wood-based panel market are Xinxiel Group Co., Lin Shi Tong Wood Co. Ltd, Jechen Group, Daregroup, Timber Products Company, Caihong Wood Co Ltd., Main Land Trading Company, China Foma, and Shanghai Wood-Based Panel Machinery Co. among others.
Please note: This is not an exhaustive list of companies profiled in the report.
Wood-Based Panel Market: By Product
Wood-Based Panel Market: By Application
Wood-Based Panel Market: By Region
The global Wood-Based Panel Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Wood-Based Panel Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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