The latest report from Expert Market Research, titled “Wood Based Panels Market Price, Size, Share, Trends, Growth, Analysis, Outlook, Report, and Forecast 2023-2028,” offers a comprehensive examination of the Wood Based Panels Market. This report assesses various aspects of the market, including product categories, applications, and key regions. It closely monitors industry trends and their impact on the market, while also delving into market dynamics by examining important demand and pricing indicators. Additionally, the report employs SWOT and Porter’s Five Forces models to provide a holistic market analysis.
Key Report Highlights:
Market Overview (2018-2028)
- Forecasted CAGR (2023-2028): 7%
- Projected Market Size (2028): 257.60 billion
The global growth in residential and commercial construction activities across major regions is anticipated to drive the demand for wood-based panels. Technological advancements and enhanced manufacturing productivity are expected to boost the wood-based panel industry. However, rising costs of petroleum-based fuels and materials pose challenges by increasing production and marketing expenses for wood-based panel products.
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Wood Based Panels Industry Definition and Major Segments
Wood-based panels encompass a diverse range of board products with varying engineering properties used in furniture, construction, and manufacturing. These panels rely on raw materials like fiber wood and timber, which are supplied by sawmills, log dealers, and reclaimed fiber brokers. Market participants may face concerns related to price volatility and the inconsistency of raw material supplies.
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
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Wood Based Panels Market Trends
Growing investments in residential and commercial construction activities across major regions are expected to drive the demand for wood-based panels. Additionally, public-private collaborations aimed at developing the construction sector in emerging economies like India, China, and Saudi Arabia are poised to stimulate business growth. However, the industry may grapple with challenges such as raw material supply fluctuations and price volatility.
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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