Wood-based Panels Market is predicted to reach USD 141.6 by 2030 at a CAGR of 7.30% during the forecast period:

Pune, India, September, 2023/MRFR Press Release/- Market research future published a half-cooked research report on Global Wood Based Panels Market. The Wood Based Panels Market is expected to grow over the CAGR of around 7.30% during the period 2022 - 2030.

Market Research Future (MRFR) has published a cooked research report on the “Global Wood-based Panels Market” that contains information from 2018 to 2030. The Wood-based Panels market is estimated to register a CAGR of 7.30% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the global Wood-based Panels market— Ante Group (Germany), Donghwa Group (South Korea), Klein Holz AG, Kronospan, Caihong Wood Co, and Weyerhaeuser Company and Norbord.

Market Highlights

The global Wood-based Panels market is accounted to register a CAGR of 7.30% during the forecast period and is estimated to reach USD 141.6 by 2030 by 2030.

The wood-based panels market involves the manufacturing and distribution of engineered wood products, such as plywood, particleboard, and MDF (medium-density fiberboard). These panels are created by binding wood fibers, particles, or veneers using adhesives, offering versatile and cost-effective solutions for various construction, furniture, and interior applications. The market's growth is propelled by the demand for sustainable and customizable building materials.

Segment Analysis

The global Wood-based Panels market has been segmented based on Product and Application.

On the basis of Product, the market is segmented into MDF, HDF, OSB, particleboard, plywood and others. The paraffin wax segment dominated the wood-based panels market in 2021 and is anticipated to grow at the fastest rate from 2022 to 2030. It is created by sticking together multiple thin veneer layers.

Based on Application, the global Wood-based Panels market has been segmented into construction, furniture and packaging. In terms of revenue, the food and beverage category dominated the market for wood-based panels in 2021 and is anticipated to increase at the fastest rate from 2022 to 2030. The market for high-end hardwood furniture for home and office interior designs is expanding, which could offer opportunities for growth for the wood-based panel industry, which is anticipated to grow significantly. Consequently, this would help the market for wood-based panels flourish.

Regional Analysis

The global Wood-based Panels market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Wood-based Panels market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Wood-based Panels market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Wood-based Panels market comprises of Middle East, Africa, and Latin America.

The Asia-Pacific Wood-based Panels Market dominated this market in 2022 During the study period, it is anticipated to grow at a rate of 41.90%, reaching USD 33.8 billion in 2021. It is anticipated that growing nations like China, India, and Japan will be the main drivers of demand for the product in packaging and building applications. China is the largest producer and consumer of wood-based panels in the Asia-Pacific region due to its rapid population increase, which needs significant construction expenditure. Growing industrial exports from the country are driving up packaging usage and driving up product demand.

Additionally, From 2022 to 2030, the European wood-based panel market is anticipated to expand at a significant CAGR. Germany, the continent's largest furniture market, is the main driver of demand in the region. In the upcoming years, it is anticipated that the rise of the region's furniture industry will increase demand for particleboard. Additionally, the UK's wood-based panel market grew the fastest in the European region, while Germany's wood-based panel market had the biggest market share.

Moreover, The second-largest market share belongs to the North American wood-based panel industry. Demand for wood-based panels in this region is anticipated to increase as consumer expenditure on furniture and the construction sector both experience significant expansion. Additionally, due to accelerated industrialization and infrastructure improvements, the primary market for the wood-based panel industry is anticipated to increase quickly in the upcoming years.

Key Findings of the Study

• The global Wood-based Panels market is expected to reach USD 141.6 by 2030 by 2030, at a CAGR of 7.30% during the forecast period.


• The North American region accounted for the fastest-growing global market due to automation and smart manufacturing technologies are increasingly being adopted throughout the region's diverse industries.


• Based on Application, In terms of revenue, the food and beverage category dominated the market for wood-based panels in 2021 and is anticipated to increase at the fastest rate from 2022 to 2030.


• Ante Group (Germany), Donghwa Group (South Korea), Klein Holz AG, Kronospan, Caihong Wood Co, and Weyerhaeuser Company and Norbord.

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