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The global wood based panels market is projected to grow at a CAGR of 7% between 2024 and 2032, to attain USD 337.66 billion by 2032.
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The key factor driving the market for wood-based panels for ceiling, cladding, roofing, flooring and furniture applications is the low commodity cost, coupled with superior properties, including strength and longevity. The demand for wood-based panels is expected to be driven by growing investments in residential and commercial construction activities across major geographies. Due to the robust growth in residential construction spending in the region, the US dominated the North America market for wood-based panels in recent years. Other factors expected to boost regional product demand over the forecast timeframe include increased customer spending on aesthetically pleasing furniture items and strong growth in single-family housing development.
A wood-based panel refers to an extensive range of diverse board items that have a distinct range of engineering properties. Wood-based panel items are largely used in furniture, building, and packaging.
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By product, the market is divided into:
On the basis of application, the market is divided into:
The regional markets for the product include North America, the Asia Pacific, the Middle East and Africa, Latin America, and Europe.
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New growth opportunities in the industry are provided by the rising use of wood-based panels in various applications. Technological developments and innovation, along with growing productivity in the operations of maintenance, production and reconstruction, would further boost market demand. In the coming years, growing product demand for the production of small accent pieces and ready-to-assemble (RTA) furniture is expected to fuel growth. Development is likely to be hindered to an extent by increasing problems, such as dust, total organic carbon, and formaldehyde emissions during product manufacturing. However, growing attempts by manufacturers to improve new production methods and to reduce the effect on the environment are likely to help the development of the sector.
The report gives a detailed analysis of the following key players in the global wood based panels market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is projected to grow at a CAGR of 7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 337.66 billion by 2032.
The major market players include surging investments in commercial and residential construction activities, the increasing customer spending on aesthetic furniture items, and increasing single-family housing development.
The key trends guiding the market growth are technological developments and innovations, the growing demand for wood based panels in the production of small accent pieces and ready-to-assemble (RTA) furniture, and the increasing focus to improve production methods of wood based panels.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The different product types of wood based panels considered in the market report are high density fibreboard (HDF), oriented strand board (OSB), medium density fibreboard (MDF), plywood, softboard, particleboard, and hardboard.
The various applications of wood based panels are construction, furniture, packaging, and decoration, among others.
The major players in the market are EGGER Group, Norbord Inc. (West Fraser), Kronoplus Limited, Dongwha Group, and Georgia-Pacific LLC., among others.
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+44-753-713-2163
United States (Head Office)
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+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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