Wood Based Panels Market Overview

Wood-based Panels Market Size was valued at USD 80.6 billion in 2021. The wood-based panels market industry is projected to grow from USD 86.5 billion in 2022 to USD 141.6 by 2030, exhibiting a compound annual growth rate (CAGR) of 7.30% during the forecast period (2022 - 2030).

The global wood based panels market is anticipated to witness sustainable growth throughout the forecast period. High demand from the construction sector for wide applications such as roofing, cladding, flooring, and ceiling is expected to improve sales prospects in the overall wood based panels market growth  Manufacturers in the industry are tapping lucrative opportunities by adopting key strategies such as investments, regional expansions, in order to increase their presence in the market. However, stringent regulations on manufacturing of wood based panels products are expected to be a threat to manufacturers.

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MDF segment, to occupy a dominant position in the overall wood based panels market

Based on product, the MDF segment is expected to witness maximum growth rate from 2018 to 2023, due to its widespread use in commercial construction for flooring and cabinetry. These products are inexpensive as compared to other products and also can be stained or painted like wood. Companies are coming up with new innovations in the wood industry and are also investing in research development activities to boost the demand for eco-friendly manufacturing wood-based panels Market Survey.

Europe region, to see a gradual increase in the wood-based panels market over the forecast period

Based on region, the global wood based panels market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Europe region dominated the global market, followed by North America, primarily due to the leading consumers and increasing manufacturing of wood based panels of such products. The rise in construction industry is attributed to private housing, commercial and infrastructure construction growth and impressive growth in privately funded projects. Moreover, various benefits of wood based panels such as high durability and low cost of  the products has further enhanced the demand for the wood based panels market.

Wood Based Panels Market By Product

• Medium density fibreboard (MDF)
• High density fiberboard (HDF)
• Oriented Strand Board (OSB)
• Particleboard
• Softword
• Plywood
• Others

Wood Based Panels Market By Application

• Construction
• Floors Roofs
• Windows Doors
• Siding
• Others
• Furniture
• Residential
• Commercial
• Packaging

Wood Based Panels Market By Region

• North America
• Asia-Pacific
• Europe
• Rest of the World

Wood Based Panels Market Scope of the Report:

This study provides an overview of the global wood based panels market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific and the rest of the world (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global wood based panels market by product, application, and region.

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Wood Based Panels Market Key Players:

The prominent players in the wood based panels market are ante-Group, Dongwha Group, Klenk Holz AG, Kronospan, Caihong Wood Co. Ltd, Weyerhaeuser Company, Norbord Inc., Sonae Indústria, SGPS, SA, Kastamonu Entegre, Louisiana-Pacific Corporation, among others.

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