PUBLISHER: Allied Market Research | PRODUCT CODE: 1225082
PUBLISHER: Allied Market Research | PRODUCT CODE: 1225082
The Wood-Based Panel Market size was valued at $190,873.90 million in 2021 and is estimated to reach $354,943.80 million by 2031, exhibiting a CAGR of 6.4% from 2022 to 2031. Wood-based panels refer to a variety of different board products made from wood in the form of chips, strips, veneers, strands or fibers. Wood-based panels are primarily used in construction, packaging, furniture, flooring, decorative and others.
Increase in demand for wood-based panel due to the increasing number of investments in the construction of new commercial space worldwide drives the demand for wood-based panels. The increase in application in the manufacture of cladding, flooring, roofing, sheathing, and decking as well as windows and doors in the construction sector is expected to boost the wood-based panels market growth. It is used in the packaging industry to make boxes, containers and cases for shipping and logistics.
The wood-based panels market is primarily driven by an increase in renovation and remodeling of older homes. In addition, new housing projects are also responsible for growth of the wood-based panels market. Since wood-based materials are also cost-effective and an environment friendly alternative to other wood and cement products, use of these materials as a replacement for building materials is on the rise. However, fluctuating prices of raw materials are expected to restrain the market.
The market is segmented on the basis of product type, application, end-user, and region. On the basis of product type, the market is divided into particleboards, plywood, medium-density fiberboard, oriented strand board and others.
On the basis of application, the market is divided into construction, Furniture, packaging, and others. On the basis of end-user, the market is divided into residential, and non-residential. Region-wise, the global market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The major players that operate in the global wood-based panels market have adopted key strategies such as product launch, acquisition, and business expansion to strengthen their market outreach and sustain the stiff competition in the market.
COMPETITION ANALYSIS
The key players that operate in the wood-based panels market are Dare Panel Group, Century Plyboards Limited, Egger Group, Evergreen Fibreboard Berhad, Georgia Pacific Wood Products LLC, Kronoplus Limited, Louisiana-Pacific Corporation, Sonae Arauco, West Fraser, and Weyerhaeuser Company.
Key Benefits For Stakeholders
By Product Type
By Application
By End User
By Region