The new report by Expert Market Research titled, ‘Wood Based Panels Market Price, Trends, Growth, Analysis, Outlook, Report and Forecast 2021-2026, gives an in-depth analysis of the Wood Based Panels Market, assessing the market based on its segments like product, application and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.

Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.

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The key highlights of the report include:

Market Overview (2016-2026)

• Forecast CAGR (2021-2026): 7%
• Forecast Market Size (2026): USD 225 billion

Globally, growth in residential and commercial construction activities across major geographies are expected to fuel demand for wood-based panels. Wood based panel demand is expected to grow as a result of technological advances and improved productivity in manufacturing. Rapid rises in the cost of petroleum-based fuels and materials, on the other hand, continue to raise the production and marketing costs of wood-based panel products, impeding their development.

Industry Definition and Major Segments

Wood-based panel is a broad term that encompasses a wide variety of board products of varying engineering properties. Furniture, construction, and manufacturing both use wood-based panel products. Sawmills, log dealers, and reclaimed fiber brokers provide the raw materials needed to make wood-based panels, such as fiber wood and timber. Price volatility and inconsistency of raw material supplies are expected to be major sources of concern for market participants.

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By product, the market is divided into:

• Medium Density Fibreboard (MDF)
• Plywood
• Softboard
• Particleboard
• Hardboard
• High Density Fibreboard (HDF)
• Oriented Strand Board (OSB)

Based on application, the industry can be segmented into:

• Furniture
• Packaging
• Decoration
• Construction
• Others

The regional markets for wood-based panels include:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Market Trends

The demand for wood-based panels is expected to rise as investments in residential and commercial construction activities increase across major geographies. Furthermore, the public-private collaborations for the development of the construction sector in developing economies like India, China, and Saudi Arabia are expected to boost business growth.

Moreover, In the medium term, rising demand from Asia-infrastructure Pacific's sector is propelling the industry forward. Whereas price volatility and inconsistency of raw material supplies are expected to be major sources of concern for market participants.

Key Market Players

The major players in the market are EGGER Group, Norbord Inc. (West Fraser), Kronoplus Limited, Dongwha Group, Georgia-Pacific LLC and others. The report covers the market shares, plant turnarounds, capacities, investments, expansions and mergers and acquisitions, among other latest developments of these market players.

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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

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