Global Wood Based Panel Market

Global Wood Based Panel Market Size, Share, Growth Analysis, By Product(Medium density fiberboard (MDF), High density fiberboard (HDF)), By Application(Furniture, Construction), By Distribution Channel(E-Commerce, OEMS) - Industry Forecast 2023-2030


Report ID: SQMIG20C2058 | Region: Global | Published Date: February, 2024 | Pages: 202 | Tables: 95 | Figures: 76

Global Wood Based Panel Market Insights

Wood Based Panel Market size was valued at USD 265.67 billion in 2021 and is poised to grow from USD 177.10 billion in 2022 to USD 302.03 billion by 2030, growing at a CAGR of 6.9% in the forecast period (2023-2030).

The primary aspect driving demand for wood-based panels for ceiling, cladding, roofing, floors, and furniture uses is low cost of manufacture combined with exceptional qualities such as durability and strength. Rising investments in residential and commercial buildings across major areas are likely to drive demand for wood-based panels. Furthermore, increased public-private collaborations for construction sector development in emerging economies such as India, China, and Saudi Arabia are expected to promote market expansion.

The United States dominated the North American market for wood-based panels in 2022 with a share of 85.52%, owing to the country's substantial expansion in residential building investment. Rising consumer expenditure on visually pleasing furniture products, as well as significant expansion in single-family house development, are predicted to fuel regional product demand over the forecast period.

Raw materials for the production of wood-based panels, such as fiber wood and lumber, are obtained from sawmills, log merchants, and recycled fiber brokers. Price volatility and instability in raw material availability are projected to be major sources of concern for market participants.

To obtain a competitive advantage, key market participants are focused on capacity development to meet increased demand for wood-based products from end-use industries. For example, Dongwha Group invested in a new MDF production line in Vietnam to address rising domestic demand for wood-based panels. Rising issues such as dust, total organic carbon, and formaldehyde emissions during product manufacture are expected to slow growth. However, manufacturers' increased efforts to develop novel production techniques and lower environmental effects are projected to favor market expansion.

US Wood Based Panel Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 265.67 billion

Largest Segment

Industrial

Fastest Growth

Industrial

Growth Rate

6.9% CAGR

Global Sodium Sulfur Battery Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
Global Sodium Sulfur Battery Market By Product 2022-2030 ($ Bn)
Global Sodium Sulfur Battery Market By Product 2022-2030 (%)

To get more reports on the above market click here to Buy The Report

Global Wood Based Panel Market Segmental Analysis

The global wood based panel market is segmented based on product, application, distribution channel, and region. In terms of product, the market is grouped into medium density fiberboard (MDF), high density fiberboard (HDF), particleboard, oriented strand board (OSB), soft board, hardboard, and plywood. Based on application the market is segmented into furniture, construction, packaging. With respect to segmentation by distribution channel, the market is segmented into e-commerce, OEMS, B2B, specialty stores, and others. Regionwise, the global wood based panel market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Wood Based Panel Market Analysis by Product

Plywood has emerged as the most popular product category and emerged dominant. It is made by gluing together numerous thin layers of veneer. Superior qualities such as high strength, durability, and impact, chemical, fire, and moisture resistance supplied by the product are projected to boost the wood-based panel market throughout the forecast period.

Particleboard is denser and more homogeneous than traditional wood products like plywood, that is expected to boost demand throughout the projection period. Particleboards come in a variety of grades and are in high demand for a variety of applications such as furniture, flooring, roofing, and insulation.

The market for MDF wood-based panels was valued at USD 25.6 billion in 2022 and is predicted to increase at a CAGR of 6.4% during the forecast period. As it is free of rings and knots, the product is regarded as a better alternative to traditional items. Because of its constant particle size and high strength, the product is projected to see increased demand.

Wood Based Panel Market Analysis by Application

The packaging segment held the dominant share in the past and is likely to continue the same during the forecast period. Wood-based panels' high impact resistance and strength make them an ideal packaging material, particularly for long-distance shipping. The market is expected to be driven significantly during the forecast period owing to the rising product utilization as an environmentally friendly packaging material to replace non-recyclable packaging materials such as plastics. Furthermore, the growing preference for classic furniture in bedrooms and living spaces is likely to drive product demand over the projection period. Rising product demand for tiny accent pieces and Ready-to-Assemble (RTA) furniture is likely to drive growth in the future years.

The use of wood-based panels in the Chinese construction industry was valued at USD 19.23 billion in 2022 and is expected to grow at a CAGR of 9.8% during the projected period. The availability of wood-based panel materials in a variety of colors, grades, and sizes is projected to boost demand in the coming years. Demand for building applications is expected to grow at an 8% CAGR in terms of value over the forecast period. In addition, rising investments in the building of new commercial spaces are expected to drive market growth in the near future.

Global Sodium Sulfur Battery Market By Product 2022 (%), 2021 (%)

To get detailed analysis on other segments, Request For Sample Report

Global Wood Based Panel Market Regional Insights

Asia Pacific held the greatest market share of 54.34% in 2022 and is expected to grow at a 7.9% CAGR during the forecast period. Emerging economies such as China, India, and Japan are expected to drive product demand in packaging and building applications. Because of population growth, which necessitates substantial investments in construction, China is the Asia Pacific's largest manufacturer and buyer of wood-based panels. A boost in packaging applications is supporting product demand as the country's industrial exports increase.

Increased R&D operations by regional manufacturers in the Middle East and Africa to create cost-effective and high-performance wood-based panels are expected to drive market expansion. Due to low manufacturing, distribution costs in the Middle East are greater than in Asia Pacific and North America.

Global Sodium Sulfur Battery Market By Geography, 2022-2030, 2023-2030
  • Largest
  • Fastest

To know more about the market opportunities by region and country, click here to
Buy The Complete Report

Global Wood Based Panel Market Dynamics

Wood Based Panel Market Drivers

Growing Demand for Affordable and Sustainable Building Materials

  • The demand for wood-based panels is increasing due to the growing need for affordable and sustainable building materials. Wood-based panels are cost-effective and offer better insulation than traditional building materials, such as brick and concrete.

Wood Based Panel Market Restraints

Availability of Alternative Materials

  • Wood-based panels face stiff competition from other materials, such as steel, aluminum, and plastic. These materials offer better strength and durability than wood-based panels and are preferred in certain applications.

Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report

Global Wood Based Panel Market Competitive Landscape

To fulfil the changing expectations of consumers and gain a competitive edge in the market, manufacturers are putting their efforts into creating new and environmentally friendly products. In order to boost their client base and market share, businesses are also increasing their presence in emerging markets through strategic alliances, acquisitions, and collaborations.

Wood Based Panel Market Top Player’s Company Profiles

  • Georgia-Pacific LLC
  • Norbord Inc.
  • Weyerhaeuser Company
  • Kronospan Holdings Limited
  • Arauco S.A.
  • Egger Group
  • Louisiana-Pacific Corporation
  • Kastamonu Entegre
  • Dongwha Enterprise Co., Ltd.
  • Sonae Industria SGPS SA
  • Swiss Krono Group
  • Pfleiderer AG
  • Metsä Group
  • UPM-Kymmene Corporation
  • Sumitomo Forestry Co., Ltd.
  • Greenply Industries Limited
  • Century Plyboards (India) Limited
  • Guangdong Yuzhu Timber Co., Ltd.
  • Shanghai Jiaodian Wood Co., Ltd.
  • Suzhou Huihua Wood Co., Ltd.

Wood Based Panel Market Recent Developments

  • In April 2022, Weyerhaeuser announced a USD 265 million contract with a Campbell Global-managed fund to acquire 80,800 acres of top-quality timberlands in North and South Carolina. The transaction is expected to yield harvest tons per acre and portfolio-leading cash flow within the company's Southern Timberlands segment.
  • In January 2022, Kronospan and the Luxembourg Institute of Science and Technology (LIST) signed a five-year collaborative framework agreement. This Partnership Framework Agreement prioritizes sustainability and the environment, as well as Activities related to the production of wood-based panels for a PhD collaborative training programmer.

Global Wood Based Panel Key Market Trends

  • Increasing demand for eco-friendly and sustainable products: The demand for eco-friendly and sustainable building materials is growing rapidly, and wood-based panels are considered to be a viable alternative to traditional materials such as concrete and steel. Manufacturers are responding to this trend by developing innovative and eco-friendly products that meet the needs of environmentally conscious consumers.
  • Rising construction activities: The global construction industry is growing rapidly, especially in developing countries. This is driving demand for wood-based panels as they are used in a variety of applications such as roofing, flooring, walls, and ceilings.
  • Technological advancements: The development of new technologies and manufacturing processes is leading to the production of high-quality and innovative wood-based panels. For example, the use of nanotechnology is improving the strength and durability of wood-based panels.
  • Increasing popularity of engineered wood products: Engineered wood products, such as plywood and particleboard, are gaining popularity due to their cost-effectiveness, durability, and versatility. This trend is expected to continue, especially in the residential construction market.
  • Growing adoption of decorative wood-based panels: Decorative wood-based panels are becoming increasingly popular for interior and exterior decoration purposes. These panels offer a range of colors, textures, and patterns that can enhance the aesthetics of any space.

Global Wood Based Panel Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, we found that the Wood Based Panel market is the primary aspect driving demand for wood-based panels for ceiling, cladding, roofing, floors, and furniture uses is low cost of manufacture combined with exceptional qualities such as durability and strength. Rising investments in residential and commercial buildings across major areas are likely to drive demand for wood-based panels. Furthermore, increased public-private collaborations for construction sector development in emerging economies such as India, China, and Saudi Arabia are expected to promote market expansion.

Report Metric Details
Market size value in 2021 USD 265.67 billion
Market size value in 2030 USD 302.03 billion
Growth Rate 6.9%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Medium density fiberboard (MDF), High density fiberboard (HDF), Particleboard, Oriented Strand Board (OSB), Softboard, Hardboard and Plywood
  • Application
    • Furniture, Construction, Packaging
  • Distribution Channel
    • E-Commerce, OEMS, B2B, Specialty Stores, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Georgia-Pacific LLC
  • Norbord Inc.
  • Weyerhaeuser Company
  • Kronospan Holdings Limited
  • Arauco S.A.
  • Egger Group
  • Louisiana-Pacific Corporation
  • Kastamonu Entegre
  • Dongwha Enterprise Co., Ltd.
  • Sonae Industria SGPS SA
  • Swiss Krono Group
  • Pfleiderer AG
  • Metsä Group
  • UPM-Kymmene Corporation
  • Sumitomo Forestry Co., Ltd.
  • Greenply Industries Limited
  • Century Plyboards (India) Limited
  • Guangdong Yuzhu Timber Co., Ltd.
  • Shanghai Jiaodian Wood Co., Ltd.
  • Suzhou Huihua Wood Co., Ltd.
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Wood Based Panel Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Wood Based Panel Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Wood Based Panel Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Wood Based Panel Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Wood Based Panel Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Wood Based Panel Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

$5,300
BUY NOW GET SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

SPEAK TO AN ANALYST

FAQ's

Wood Based Panel Market size was valued at USD 265.67 billion in 2021 and is poised to grow from USD 177.10 billion in 2022 to USD 302.03 billion by 2030, growing at a CAGR of 6.9% in the forecast period (2023-2030).

To fulfil the changing expectations of consumers and gain a competitive edge in the market, manufacturers are putting their efforts into creating new and environmentally friendly products. In order to boost their client base and market share, businesses are also increasing their presence in emerging markets through strategic alliances, acquisitions, and collaborations. 'Georgia-Pacific LLC', 'Norbord Inc.', 'Weyerhaeuser Company', 'Kronospan Holdings Limited', 'Arauco S.A.', 'Egger Group', 'Louisiana-Pacific Corporation', 'Kastamonu Entegre', 'Dongwha Enterprise Co., Ltd.', 'Sonae Industria SGPS SA', 'Swiss Krono Group', 'Pfleiderer AG', 'Metsä Group', 'UPM-Kymmene Corporation', 'Sumitomo Forestry Co., Ltd.', 'Greenply Industries Limited', 'Century Plyboards (India) Limited', 'Guangdong Yuzhu Timber Co., Ltd.', 'Shanghai Jiaodian Wood Co., Ltd.', 'Suzhou Huihua Wood Co., Ltd.'

The demand for wood-based panels is increasing due to the growing need for affordable and sustainable building materials. Wood-based panels are cost-effective and offer better insulation than traditional building materials, such as brick and concrete.

Increasing demand for eco-friendly and sustainable products: The demand for eco-friendly and sustainable building materials is growing rapidly, and wood-based panels are considered to be a viable alternative to traditional materials such as concrete and steel. Manufacturers are responding to this trend by developing innovative and eco-friendly products that meet the needs of environmentally conscious consumers.

Asia Pacific held the greatest market share of 54.34% in 2022 and is expected to grow at a 7.9% CAGR during the forecast period. Emerging economies such as China, India, and Japan are expected to drive product demand in packaging and building applications. Because of population growth, which necessitates substantial investments in construction, China is the Asia Pacific's largest manufacturer and buyer of wood-based panels. A boost in packaging applications is supporting product demand as the country's industrial exports increase.

Speak With Our Analyst

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Wood Based Panel Market

Product ID: SQMIG20C2058

$5,300
BUY NOW GET SAMPLE